Detailed text transcripts for TV channel - CNN - 20110214:09:36:00
Compares it with recent price spikes. >> reporter: think back to july, 2008 before lee man bros. and interest rates were slashed, before the breathtaking economic crisis. crude oil was pushing to $147 a barrel, transportation costs were priced. speculations were blamed as were crops used for biofuels. >> they had it all together, demand is soaring. supply has been cut back. food has been converted into the gas tank. >> reporter: it wasn't just fuel in '508. soy doubled, and rice. riots broik out in haiti, the island coast. >> we have two problems, energy problem and a food problem. there are s...
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