The present scenario of oil price going through US116 per barrel is causing massive poverty throughout the whole world. With the increase in the price of crude oil, everything that is related to fuel and oil, such as transportation, process, manufacturing, retail, building maintenance etc. is going to be affected. There will be massive dissatisfaction and may even result in national riots leading to uproar at governmental authorities.
But actually the hands of the government is more or less tied. They are not in the position to control the world price of crude oil which is operating on supply and demand, and also speculated on the rise of Middle East turmoil.
As long as the Middle Eastern nations of OPEC do not relent on the price of oil, there will be huge sufferings of the common man in the street. Food prices will rise. House prices and commercial properties will rise. Basic necessities will be a luxury.
May God help us in this troubled world.
Posts
No comments:
Post a Comment