As the global financial situation causes many nations to enter a recession we see several companies closing sending to the unemployment list hundreds of workers...this scenario is a daily happening in one of Europe's oldest nations...Portugal.This situation is caused by the inflated consumer prices of energy (oil), wheat,rice and others..practiced by the respective companies and government...
We have the example of the oil companies such as aGalp, BP, Repsol and Cepsa who still practice inflated oil prices at the pump, not passing to the motorist the international crude prices that are now around the $62 per barrel...consumers in Portugal are paying for oil at a price of $120 per barrel...
The financial situation will continue to worsen as is the case with General Motors...this American car producer is very close to bankruptcy, according to some
brokers the stock value for GM has been placed at "zero" .... this situation for the US will no doubt be catastrophic !!!!
