AMERICANS NOW PAYING $4.00 FOR A GALLON OF FUEL
BUT THAT'S STILL CHEAPER THAN LONDON AND MOST OF EUROPE
BUT VENEZUELANS PAY JUST $0.18 A GALLON
SAUDIS PAY ONLY $0.80 A GALLON
TEXANS AND PHILADELPHIANS ARE PAWNING THEIR TELEVISIONS AND JEWELLERY TO BUY FUEL SO THEY CAN GET TO WORK
Texans are getting desperate as fuel prices skyrocket out of control.
Pawn shops say their business is increasing, with some customers saying they're selling things to buy gas.
"We just have customers come in and have to tell us that they need money ‘till the end of the week, for gas to get back and forth to work," said pawn shop owner, Gerald Costner.
Everything from high end jewelry, to name brand purses, and televisions… pawn shop owners say they are seeing it all come in. They say customers are frustrated and have no place to go to get extra cash for gas.
The pawn shop owner told of a tragic situation for construction workers who have nothing left to pawn but their valuable tools. Without tools, however, they cannot work. Without money to put fuel into their vehicles, they cannot get to work.
In Philadelphia, locals are pawning televisions, jewellery and DVDs to buy fuel, but the pumps at fuel stations are running dry.
VENEZUELAN PRESIDENT HUGO CHAVEZ BLAMES US HARD LINE ON IRAN FOR RECORD OIL PRICES
CHAVEZ SAYS HE WILL BLOW UP VENEZUELAN OIL FIELDS IF BUSH LAUNCHES INVASION OR ATTACKS ON HIS COUNTRY
Businessweek reports : Chavez predicted that the cost of oil would soar far higher if the standoff over Iran's nuclear program led to a U.S. attack on the Islamic republic."Chavez claims the US threats against Iran are responsible for the panic-trading amongst oil buyers, fearing supplies will plummet in the coming months if a War On Iran is launched.
"They must abandon the option for war against Iran," Chavez said. "Iran has the right to develop nuclear energy for peaceful purposes."
Chavez has now warned that the Venezuelan government would "blow up its own oil fields" if an attack against the country is launched.
Venezuela is the fifth largest oil exporter in the world and supplies millions of barrels of oil to the US every day. The country is believed to have oil reserves on par, or larger, than Saudi Arabia, that is the biggest oil reserves in the world.
The U.S. ambassador to Venezuela has now been forced to downplay any threats against Chavez and his government, after a rise in tensions between Chavez and Bush, and calls by US politicians and public figures to "take care of Chavez."
Venezuela earns billions a month in oil revenue from the US, but is now looking to less hostile markets for its increasingly valuable exports. Latin America, China and the Caribbean are now shaping up to be major customers.