Global Economic Watch: Oil, Food, Shortages

Further down on my home page you will find a section titled End-Times Headlines. There you can read current news stories that I believe relate to biblical prophecies concerning events that God said will happen when He begins His judgment of the world. The subject matter of many of these news items revolve around one particular prophetic theme or another. On this page I will compile the stories that relate the prophecies that speak of famines occurring in the last days that will affect the whole earth. When Jesus' disciples asked Him what the prophetic signs for the end of the age were He responded with several prophecies. One of them concerned the suffering of humans: "4 And Jesus answered and said unto them, Take heed that no man deceive you. 5 For many shall come in my name, saying, I am Christ; and shall deceive many. 6 And ye shall hear of wars and rumours of wars: see that ye be not troubled: for all these things must come to pass, but the end is not yet. 7 For nation shall rise against nation, and kingdom against kingdom: and there shall be famines, and pestilences, and earthquakes, in divers places. 8 All these are the beginning of sorrows." (Matthew 24:4-8) The book of Revelation also speaks of a famine that devastates the world: "5 And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand. 6 And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine." (Revelation 6:5-6) The penny (denarious in the Greek) spoken of here was the equivalent of a day's wages (cf. Matthew 20:2) which means that food is going to be costly because of a lack of it. Just as Adolph Hitler rose to power during a time of great economic turmoil so too will the Antichrist in the future.




[April 28, 2008] - OIL=$200 GAS=$10? - According to a report in the New York Sun newspaper, gas prices could rise as high as 10 dollars a gallon the next few years. (Gasoline May Soon Cost a Sawbuck) The article states, "The forecasts calling for a jump to between $7 and $10 a gallon are based on the view that the price of crude is on its way to $200 in two to three years. Translating this price into dollars and cents at the gas pump, one of our forecasters, the chairman of Houston-based Dune Energy, Alan Gaines, sees gas rising to $7-$8 a gallon. The other, a commodities tracker at Weiss Research in Jupiter, Fla., Sean Brodrick, projects a range of $8 to $10 a gallon."

OPEC (Organization of the Petroleum Exporting Countries) says that oil could reach 200 dollars in the future. (Opec chief says oil could hit $200) This article reports that OPEC officials blame the rising costs on the U.S. economy and weak dollar. U.S. officials blame OPEC for cutting oil production.

If this scenario plays out, commodity prices will also have to increase. This of course would adversely affect consumers everywhere as the global economy would continue to spiral downward.

[April 25, 2008] - UN SECRETARY-GENERAL CALLS FOOD PRICE RISE A GLOBAL CRISIS; BIOFUELS CONTRIBUTING TO FOOD SHORTAGES?; WSJ: AMERICANS SHOULD STOCKPILE FOOD - The Secretary-General of the United Nations, Ban Ki-moon, addressed the issue of the rising costs of food, "This steeply rising price of food — it has developed into a real global crisis," (UN secretary-general calls food price rise a global crisis) Another United Nations official noted that the UN food agency, World Food Program, needs 755 million dollars to help offset the rise in food prices. (UN food agency needs hundreds of millions for hungry)

On another front, it appears that biofuels (a solid, liquid, or gas fuel consisting of, or derived from recently dead biological material, most commonly plants. This distinguishes it from fossil fuel, which is derived from long dead biological material - Wikipedia) are contributing to food shortages around the world. (Food Crisis Starts Eclipsing Climate Change Worries) This article reports, "'One factor being blamed for the price hikes is the use of government subsidies to promote the use of corn for ethanol production. An estimated 30% of America’s corn crop now goes to fuel, not food...' A study by a Washington think tank, the International Food Policy Research Institute, indicated that between a quarter and a third of the recent hike in commodities prices is attributable to biofuels." The reporter mentions that some governments of the world could collapse if food prices don't recede.

A contributing writer for the Wall Street Journal, Brett Arends, suggests that Americans should start storing up food, "I don't want to alarm anybody, but maybe it's time for Americans to start stockpiling food." (Load Up the Pantry) The point of the article is that people should purchase non-perishable food items now before the prices increase and therefore lessens your money's current purchasing power.

I am not suggesting the hoarding of food by anyone. I used these news stories to illustrate the possibility that we will experience a global famine which biblical prophecy declares will occur in the End-Times. Whenever this prophetic famine occurs, I believe that the Antichrist will use it to rise to power. In the first news article listed above, there is an interesting statement made by the reporter that is unrelated to the food crisis. The Associated Press writer briefly mentioned the background story for the occasion of the UN Secretary-General's address: "He spoke to reporters at U.N. offices in Austria, where he was meeting with the nation's top leaders for talks on how the United Nations and European Union can forge closer ties." It is biblically possible (see Ch. 10 of my book 10 - Armageddon) that the Antichrist will come to prominence via the European Union. It may be that he will then consolidate his power through the United Nations.

[April 24, 2008] - OIL PRICES TO DOUBLE BY 2012 - According to a Canadian study the price of oil is likely to rise to 150 dollars a barrel by 2010 and 225 dollars by 2012. (Oil prices to double by 2012: Canadian study) The article states, "'Despite the recent record jump in oil prices, oil prices will continue to rise steadily over the next five years, almost doubling from current levels.' The CIBC report also notes that while production increases are at a virtual standstill, global demand continues to grow...Although US oil consumption is likely to fall by over two million barrels a day over the next five years as pump prices rise, he says, more drivers on the road in Russia, China and India will surely pick up the slack in demand."

Since most commodities are transported by fuel-consuming vehicles, this will cause a significant increase in the cost of consumer products. This of course could lead to shortages of all types including food. One day, the world's need for oil may lead some countries to use aggressive means in order to obtain it. Whether this is the reason the armies of the world come together in the Middle East and eventually fight the battle of Armageddon is unclear at this time.

[April 23, 2008] - AMERICANS HOARD FOOD, FOOD RATIONING, LIMIT RICE BUYING, HUNGRY JAPAN, ERA OF CHEAP FOOD ENDS - Worldwide food prices and shortages continue to increase. As a result of this, a Washington Times article states that some Americans have resorted to hoarding food: "Farmers and food executives appealed fruitlessly to federal officials yesterday for regulatory steps to limit speculative buying that is helping to drive food prices higher. Meanwhile, some Americans are stocking up on staples such as rice, flour and oil in anticipation of high prices and shortages spreading from overseas." (Americans hoard food as industry seeks regs)

The New York Sun newspaper is reporting that some retailers in America are limiting consumer purchases of some food staples: "Major retailers in New York, in areas of New England, and on the West Coast are limiting purchases of flour, rice, and cooking oil as demand outstrips supply. There are also anecdotal reports that some consumers are hoarding grain stocks." (Food Rationing Confronts Breadbasket of the World)

In San Francisco, at least one store is asking customers to limit their rice purchases. (Bay Area Shoppers Asked To Limit Rice Purchases)

Sam's Club and Costco are limiting sales of rice because of food shortage fears. (Sam's Club, Costco Limit Rice Purchases)

Across the Pacific, Japan's food problems are increasing. (Japan's hunger becomes a dire warning for other nations)

The British newspaper, The Times is reporting that high food prices are here to stay, "Families have been warned that the prices of basic foods will rise steeply again because of acute shortages in commodity markets. Experts told The Times yesterday that prices of rice, wheat and vegetable oil would rise further. They also forecast that high prices and shortages — which have caused riots in developing countries such as Bangladesh and Haiti — were here to stay, and that the days of cheap produce would not return. Food-price inflation has already pushed up a typical family’s weekly shopping bill by 15 per cent in a year." (Era of cheap food ends as prices surge)

The problems facing the world's food supply are not going away. According to the Bible, one day in the future there is going to be a global famine which may lead to the rise of the Antichrist.

"4 And Jesus answered and said unto them, Take heed that no man deceive you. 5 For many shall come in my name, saying, I am Christ; and shall deceive many. 6 And ye shall hear of wars and rumours of wars: see that ye be not troubled: for all these things must come to pass, but the end is not yet. 7 For nation shall rise against nation, and kingdom against kingdom: and there shall be famines, and pestilences, and earthquakes, in divers places. 8 All these are the beginning of sorrows." (Matthew 24:4-8)

"5 And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand. 6 And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine." (Revelation 6:5-6)

In the first passage Jesus predicted famines in the end-times. In the second passage the equivalent to a day's wages will be necessary to pay for food staples at some point in the future. Out of this famine a global leader will arise and seem to have all of the answers to the world's problems including the economic woes of the people. Just such a scenario played out in the 1920s and 30s when Adolph Hitler used the people's suffering to rise to power. So too will the Antichrist.

[April 18, 2008] - WORLDWIDE FAMINE IN THE NEAR FUTURE? - The last couple of months global food prices and shortages have been in the news. The price of the world's food staple, rice, is soaring to all-time highs. (Jump in rice price fuels fears of unrest) Rising prices affect over 2.5 billion people in Asia alone. Egypt and India are protecting their own supplies of the grain.

The Financial Times reports that record levels of oil and rice prices could lead to widespread social unrest. (Oil and rice race to record levels)

Australia's drought is contributing to the shortage of rice around the world. (As Australia dries, a global shortage of rice) This article states, "The collapse of Australia's rice production is one of several factors contributing to a doubling of rice prices in the last three months — increases that have led the world's largest exporters to restrict exports severely, spurred panicked hoarding in Hong Kong and the Philippines, and set off violent protests in countries including Cameroon, Egypt, Ethiopia, Haiti, Indonesia, Italy, Ivory Coast, Mauritania, the Philippines, Thailand, Uzbekistan and Yemen."

Rising oil prices are affecting the cost of most commodities. Martin Crutsinger, Associated Press Economics Writer, reports that wholesale prices have increased substantially. (Wholesale prices soared in March) The article states: "With the crude oil price rising to a record close of $113.79 per barrel on Tuesday, analysts said consumers should be braced for more bad inflation news to come. 'Wholesale prices are rising and the consumer should expect more shocks at the supermarket and the gas station,' said Joel Naroff, chief economist at Naroff Economic Advisors."

Ellen Simon, AP Business Writer, also reports on the rising food costs and how they affect the population, especially lower income families: "For the U.S. poor, any increase in food costs sets up an either-or equation: Give something up to pay for food. 'I was talking to people who make $9 an hour, talking about how they might save $5 a week,' said Kathleen DiChiara, president and CEO of the Community FoodBank of New Jersey. 'They really felt they couldn't. That was before. Now, they have to.' For some, that means adding an extra cup of water to their soup, watering down their milk, or giving their children soda because it's cheaper than milk, DiChiara said." (Food Costs Rising Fastest in 17 Years)

An article in the British newspaper The Independent is titled "USA 2008: The Great Depression" and speaks of the growing number of Americans (28 million) using food stamps (USA 2008: The Great Depression)

According to CBS News: "there have been food riots in Haiti, Bangladesh, Egypt, Burkina Faso, Mauritania, Mozambique and Senegal. Rising prices have hit poor countries like Peru (and even developed countries like Italy and the United States)." (Food Shortages Herald "New Era Of Hunger")

There seems to be no glimmer of hope in the future with rising fuel prices adding to the cost of everything. The Bible indicates that near the time of the end there is going to be a worldwide famine: "5 And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand. 6 And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine." (Revelation 6:5-6)

The cost of wheat and barley in this passage declares that a day's wages will be necessary to pay for food staples at some point in the future. Out of this famine a global leader will arise and seem to have all of the answers to the world's problems including the economic woes of the people. Just such a scenario played out in the 1920s and 30s when Adolph Hitler used the people's suffering to rise to power. So too will the Antichrist.

[March 11, 2008] - FORECLOSURES A SIGN OF HARD ECONOMIC TIMES AHEAD? - USA Today reports that home foreclosures are having a rippling effect on the U.S. economy. (Foreclosure crisis has ripple effect)

The foreclosure crisis in the U.S. is spreading to other areas of American society. According to this USA Today article:

"The mortgage foreclosure crisis has caused a drop in cities' revenues, a spike in crime, more homelessness and an increase in vacant properties, a survey of elected local officials out today shows."

This problem along with the U.S. dollar's value falling around the world and oil and gas prices spiraling out of control are indicators that the economy of America and possibly the whole world is in dire straits. History has shown us that America and the world have rebounded from economically tough times in the past. However, the Great Depression of the 1930s led to the rise of evil dictators who eventually led the world into a devastating World War. How far the economic indicators fall remains to be seen. The Bible does indicate that at some future point there will be economic devastation around the world that will eventually lead to the rise of a world leader who will seemingly have the answers to the world's problems.

In Revelation 6 God's servant John is shown some events that have worldwide effects. He sees these four horsemen who are unleashed upon the world who initiate a series of judgments upon the earth: "5 And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand. 6 And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine. 7 And when he had opened the fourth seal, I heard the voice of the fourth beast say, Come and see. 8 And I looked, and behold a pale horse: and his name that sat on him was Death, and Hell followed with him. And power was given unto them over the fourth part of the earth, to kill with sword, and with hunger, and with death, and with the beasts of the earth." (Revelation 6:5-8)

What John saw was food staples such as wheat and barley costing a day's wages. This would indicate that some economic calamity had occurred in the world. After this he sees death from hunger and the animals of the world. These too would be the result of an economic disaster that would cause not only humans to starve but animals also who would resort to killing people in order to eat. The rest of Revelation deals with what Christians call the Tribulation Period and the rise of the Antichrist and the devastation of the earth and its inhabitants that follows it. As I stated above, it was just such circumstances that afforded a type of Antichrist to enter into world history in the 1930s.

I believe that one day America will cease to be a superpower. The reason for this is because the Bible declares that in the future Israel will be attacked by numerous countries in and around the Middle East. (See my article on this site "Coming Invasion of Israel") Right now America is protecting Israel from the aggression of other countries. However, if we become militarily or economically impotent then these countries will not have to fear America's military forces and would feel they could attack Israel with impunity. Like all prophecies in the Bible, the timing of these events is in God's domain and His alone.

[October 26, 2007] - UNITED NATIONS SCIENTIFIC STUDY DECLARES HUMANITY'S VERY SURVIVAL IS AT RISK - In a report submitted to the United Nations a group of 1400 scientists concluded that future of the human race is at risk. ('Humanity's very survival' is at risk, says UN) According to this study human beings are using up the earth's natural resources. This in turn will lead to the extinction of 30 per cent of amphibians, 23 per cent of mammals and 12 per cent of birds. Climate change will contribute significantly to the degradation of the earth and the resources humans need in order to survive. Whether or not the dire predictions of these scientists come to pass is yet undetermined. However, the Bible makes it clear that in the future both the environment of the earth and its human population will indeed be devastated by both natural and supernatural causes. In the Book of Revelation God showed to John the things that would happen at the end of the current age. John wrote about some of the events he had witnessed: "The first angel sounded, and there followed hail and fire mingled with blood, and they were cast upon the earth: and the third part of trees was burnt up, and all green grass was burnt up. 8 And the second angel sounded, and as it were a great mountain burning with fire was cast into the sea: and the third part of the sea became blood; 9 And the third part of the creatures which were in the sea, and had life, died; and the third part of the ships were destroyed. 10 And the third angel sounded, and there fell a great star from heaven, burning as it were a lamp, and it fell upon the third part of the rivers, and upon the fountains of waters; 11 And the name of the star is called Wormwood: and the third part of the waters became wormwood; and many men died of the waters, because they were made bitter." (Revelation 8:7-11) John saw the earth environmentally devastated. Trees were burned up, waters became poisonous, and many humans died. Later on in Revelation John says that he saw men "scorched with great heat". The future of the world is indeed bleak until Jesus Christ comes again. From a scientific point of view it seems the world is running out of time. From a biblical point of view it would seem the scientists are right.

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