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The world in a stranglehold

Reader comment on item: The Curse of Oil Wealth

Submitted by S. Immanuel (India), Jun 17, 2008 at 04:19

It is imperative that the OPEC rationalize their price mechanism and increase output to stabilize the rising price of oil. It would be a shame on the part the cash stashing OPEC nations and the insatiable oil companies to strangulate the process of development in cash starved nations. It is unfortunate that the world is held to ransom by unscrupulous profit mongering cartels and political desperados. The collective objectives of globalization are not well served in such a scenario of indiscretion. It is quite obvious and evident that more than the theories of demand and supply there are various other extraneous factors of social maladjustment that are in play contributing to oil price rise and hikes.

The world forum and governments need to investigate and address this grave issue and put pressure at the appropriate levels to stem this ever increasing tide of profit motive and political gamesmanship. It would be in the best interests of the world community if there are concerted efforts to research and develop alternate sources of energy.

Submitting....

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Reader comments (10) on this item

Title Commenter Date Thread
The Curse of Oil Weath [50 words]robert ngobiJun 2, 2010 04:02173717
Comparison with revenues from crime [110 words]Petrus C. van DuyneMay 21, 2010 18:17173208
OIL! POWER! What If it wasn't ARAB - MUSLIM BIGOTS who suck us to the bones at the pump [249 words]AlJul 15, 2008 01:50135123
The world in a stranglehold [172 words]S. ImmanuelJun 17, 2008 04:19132353
funny , with all this oil and they are still " poor " . Why ? [195 words]Phil GreendJun 8, 2007 03:0596694
The death of Innovation [118 words]AngelFeb 26, 2009 17:3196694
they are like in communism world. [13 words]junjieJun 16, 2009 14:0496694
About iran [51 words]MahtabJul 15, 2006 13:0549742
The course of oil wealth [2 words]Nelson Iriñiz CasásMar 5, 2005 08:5120669
What about Non-Oil Producing Arab Countries? [69 words]Mariam A ZedMay 20, 2002 22:02410

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