Granted, OPEC prices suck, (as of Thursday OPEC's price is $106.13 dollars a barrel), everyone is feeling the pain of the rocketing effect of soaring costs.
What is the reason behind UN not being up front about monies on hand? I believe another "oil for food" travesty is at hand.
Just weeks before it announced the onset of a global food crisis and the urgent need for donors to provide at least $775 million in additional funding, the World Food Program (WFP) was sitting on a cash and near-cash stockpile of more than $1.22 billion.
The startling figure is contained in the latest audited statements of the WFP, which were endorsed by WFP’s executive director, Josette Sheeran, on March 31, 2008 — just a month before Sheeran announced at an international aid conference on April 22 that a “silent tsunami” in rising food prices demanded the huge infusion of cash for WFP’s latest budget.
In an op-ed article published in the International Herald Tribune on May 1, U.N. Secretary General Ban Ki-moon further declared that the WFP had just “$18 million cash in hand” in the wake of its appeal for emergency funding.
The audited statements are due to be presented to the annual Rome meeting of WFP’s supervisory executive board in June.
High prices now have forced the UN to cut Palestinian refugee's food aid. I guess their $1.2 billion stockpile wasn't already slated for Gaza.
Las Vegas Sun
Rising prices and funding shortages [emphasis mine] have forced the United Nations to stop providing emergency food aid to more than 13 percent of the 750,000 Palestinian refugees it feeds in Gaza, a U.N. official said Friday.
The United Nations' Relief Works Agency has over the last few weeks gradually reduced the number of Palestinian refugees to whom it distributes packages of basic foods to about 650,000 people, spokesman Matthias Burchard told The Associated Press.
It has also had to further reduce rations, he said.
"Soaring food prices, transport and fuel costs are forcing us to reduce what we can give," Burchard said.
Too bad the Arab's refused to let their "own"[refugees] become citizens in their countries and instead expect Israel take care of it by giving up their land - all of it.
The UN is continuing the farce by this latest announcement of cutting aid. More outrage will definitely follow. Those evil jooooos!
In case you missed ZH#3 post, here is a reminder of those evil joooos...not.