The present income from oil export contributes a significant portion to Malaysia economy, it is predicted that the oil deposit in the country will be depleting in 10 years. Petronas, the government own oil company is aggressively investing in new oil fields abroad.
The oil price has soared to record high USD 96 lately, good news to oil rich countries. Saudi Arabia, UAE, Iraq, Iran and Kuwait are among the countries gaining huge benefits from oil export. Without this natural deposit, what would these countries be… probably poorer than African Continent. The desert is too harsh for agriculture and living. (Yet the people treat foreign workers as second class human being, especially Saudi Arabia. What the hell they think they are more superior then the others?)
The escalating oil price has pressured inflation hiking, inducing price acceleration on broad range of basic commodities, but the salary increment is never proportion to it. The grassroots level would be severely hit.
This is all money business and political games. Lots of hedge funds are investing / speculating on any business which could generate huge fortune overnight disregarding their social responsibility and conscience, a weakness of capitalism. It could easily destroy a developing economy of poor countries. The rich-and-poor gap would be stretching farther apart. Properly this is how the rich to enjoy their dominance.
Free economy must be curbed on basic commodities trading, strict regulations have to be applied, and speculations have to be punished. The risk of continuous oil price hiking would trigger domino effect to global economy. What is the reaction of OPEC lately to stabilize the oil price? I hear nothing…
Therefore it's desperate needful to source alternative substitution for oil.
The oil price has soared to record high USD 96 lately, good news to oil rich countries. Saudi Arabia, UAE, Iraq, Iran and Kuwait are among the countries gaining huge benefits from oil export. Without this natural deposit, what would these countries be… probably poorer than African Continent. The desert is too harsh for agriculture and living. (Yet the people treat foreign workers as second class human being, especially Saudi Arabia. What the hell they think they are more superior then the others?)
The escalating oil price has pressured inflation hiking, inducing price acceleration on broad range of basic commodities, but the salary increment is never proportion to it. The grassroots level would be severely hit.
This is all money business and political games. Lots of hedge funds are investing / speculating on any business which could generate huge fortune overnight disregarding their social responsibility and conscience, a weakness of capitalism. It could easily destroy a developing economy of poor countries. The rich-and-poor gap would be stretching farther apart. Properly this is how the rich to enjoy their dominance.
Free economy must be curbed on basic commodities trading, strict regulations have to be applied, and speculations have to be punished. The risk of continuous oil price hiking would trigger domino effect to global economy. What is the reaction of OPEC lately to stabilize the oil price? I hear nothing…
Therefore it's desperate needful to source alternative substitution for oil.
