Something Has to be Done to Control Oil Prices....

[Mini-itx]

Don't you think so?

 

I do understand about supply and demand and some simple economics. However, I feel economics cannot be applied to everything in this world. Some things are necessary for basic survival needs rather than just a money making tool and oil is one of them.....

 

This is because almost everything in this world depends on oil. Rise in oil prices will drive up almost everything (even food prices etc are affected as you need transportation and processed food needs energy to process). Even the cloths you wear are made from oil (eg polyester, nylon etc).

 

FYI, a hike in oil prices back then cause a rather big surge in cooking ingredients prices (I know because my dad was in this industry, but retired around 6 months ago). If you ever do frequent Pasir Panjang Wholesale Centre, you will notice the hike. The reason for it is massive increase in oil prices lead to increased in transportation cost and hence price goes up.

 

I don't know if rising crude oil prices will create a bubble and then burst (then crisis/recession again). However, if crude oil prices goes up like nobody business, I wonder what will happen to people esp. in poorer countries.

[Mini-itx]

Forget to add one thing. What goes up don't usually comes down. Those cooking ingredients are the same.

[Vega]

not sure how true is this. i heard from a oil trader that the price of oil not truely depends on supply and demand. its the financial institutions that is holding the oil and "play" with the price to earn money.

[Mini-itx]

not sure how true is this. i heard from a oil trader that the price of oil not truely depends on supply and demand. its the financial institutions that is holding the oil and "play" with the price to earn money.

 

Oh IC..... But my guess is that these institutions are just interested in making money.... nothing more.....

[Peaceracer]

I guess its all part and parcel of the economics of the world. There are super rich ppl out there who are playing with the prices jus to their benefits. We the commoners don have much power to play with all these and thus hav to 'listen' to them. But then again, they are all humans too. If they can reach that stage, probably anyone of us also can.

[Csnewbie]

I do understand about supply and demand and some simple economics. However, I feel economics cannot be applied to everything in this world. Some things are necessary for basic survival needs rather than just a money making tool and oil is one of them.....

 

Depending on what types of oil.Crude oils that are used to refine for vehicles

are depletable,and probably soon.I am waiting for electric cars to be massly

viable to buy & try one.

And crude oil sucking fr below Earth probably leads to some earthquakes &

some other disaster.Hmm.....not so good.Hope they find alternatives soon.

[Csnewbie]

I guess its all part and parcel of the economics of the world. There are super rich ppl out there who are playing with the prices jus to their benefits. We the commoners don have much power to play with all these and thus hav to 'listen' to them. But then again, they are all humans too. If they can reach that stage, probably anyone of us also can.

 

Not agreed.You need "sky timely,earth good to you & people coming together" to be truly successful.

[Mini-itx]

I guess its all part and parcel of the economics of the world. There are super rich ppl out there who are playing with the prices jus to their benefits. We the commoners don have much power to play with all these and thus hav to 'listen' to them. But then again, they are all humans too. If they can reach that stage, probably anyone of us also can.

 

No, I don't exactly agree bro.

 

Cause, in order to have 1 super rich people, you need many poor people to support that 1 rich people. In return, the super rich person feed those poor people.

 

If everyone becomes rich, then who will want to work? Then the world will collapse.

[Mini-itx]

Depending on what types of oil.Crude oils that are used to refine for vehicles

are depletable,and probably soon.I am waiting for electric cars to be massly

viable to buy & try one.

And crude oil sucking fr below Earth probably leads to some earthquakes &

some other disaster.Hmm.....not so good.Hope they find alternatives soon.

 

If crude oil is depleted, I seriously don't know what will happen to the world. The entire world today relies on crude oil to function. If there is no oil.....

[Tom_kkh]

so long as our own land is practising 'price fixing', theres nothing much we can do.

 

and some ppl are talking abt whtever fair trade thingy, give me a break!

[Hotamp]

not sure how true is this. i heard from a oil trader that the price of oil not truely depends on supply and demand. its the financial institutions that is holding the oil and "play" with the price to earn money.

 

 

welcome to the "free"economy where everyone is free to speculate and push assets prices till to the moon, thats why the rich will always get richer....ai :angry: the world economy is controlled by large financial conglomerates and powerful governments....nothing much we can do ...except to get whack left right center .

Edited May 22, 2010 by Hotamp

[Csnewbie]

If crude oil is depleted, I seriously don't know what will happen to the world. The entire world today relies on crude oil to function. If there is no oil.....

 

 

If crude oils are undepletable, then we could virtually burn off the whole earth.

And it takes millions of years for new ones to form.

[Zhiwei933]

Just move to woodlands stay near toward johor and pump your petrol every week in malaysia. SOLVED ! ! !

[Ghostami]

Don't forget, 95% of the world's wealth is control by only 5% of the population while the other 95% of people only controls 5% of the worlds wealth. I for one belongs to 95% of the worlds people... Sigh.. How can I shift to the 5%????????

[Atonchia]

Go Nuclear

[Kiadaw]

An alternative, one that can be regenerated, & environmental friendly is the future. Don't expect it to be cheap though.

 

I too hate to be held ransom by petrol price & giving money to some sheiks & co who virtually sit on gold

[Watwheels]

Tell that to the crude oil speculators. Those greedy S.O.Bs will stop at nothing to get what they want.

[Mamasita72]

what to do, they have a vested interest for the oil prices to go up. According to a friend who works very closely with the middle easten shieks. They said that they have so much oil in stock that it is virtually impossible to run out of it in the next 100 years. And they are just releasing it slowly and setting the price even higher each time.