http://business.inquirer.net/money/topstories/view/
20080526-138894/
Asian-shares-sink-on-high-oil-price-growth-fears
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I myself find it quite alright that the price of oil is constantly increasing. It is simply because of the small, unnoticed reason that oil is an important necessity in today's everyday life.
Think about it. Vehicles such as cars, buses, and jeeps need oil. Even some factories need oil. But is oil renewable? Do we have an infinite supply of it?
No.
The United States realizes this simple fact. They continue to hoard oil in preparation for the near future. The US will be the only major supplier of oil, which enables them to monopolize the economy and demand ridiculous prices for even a mere liter of oil.
Shouldn't our country be doing the same?
Please comment. Thanks.
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9 comments:
I believe that the world are aware of oil being used by the consumers and how it affects the lives of the people. It is slowly depleting and people should find a way to solve this unfortunate crisis. They should focus more on their experiments on battery powered vehicles and less on gas guzzling cars.
Now that I think about it, we should. The United States has begun to monopolize the oil distribution in the world by hoarding it.
However, we must also realize the fact that our country cannot compete in the same league as the United States or any other First World country in buying resources. The best we could hope for is the very short end of the stick.
Some people say that for now, we should maximize the growth of our economy for us to have a better shot at acquiring resources such as oil in the future.
@vchu
Yes, we should focus on experiments which require less/no oil in order to preserve our own supply.
@jugo
Our economy CAN compete at third-world level. MAYBE even at second-world level. In order to do so, we should focus on making our government less corrupt and more productive.
Only the 1st world countries can create renewable oils
so let's just have faith on them
If by "hoarding" you mean WAR...which ultimately results to taking over oil-countries such as Iraq in the case of the US....then I believe the Philippines should not get into it. And besides, we might find ourselves losing the war anyway. Maybe, by focusing on the production of a particular global demand like rice or other basic food,hopefully, we might be able to use this to purchase oil from those countries at lesser costs.
I'm not really aware of the issues concerning oil but i'm aware of the fact that our country's economy is continually weakening because of the continuous increase of the price of oil.
We all know that oil is an important resource, its change will surely have an effect on the prices of our commodities. I believe our country is doing what it can do (im not saying its best) to lessen the effects brought by the changes of oil price. We may be incapable of hoarding oil because of the problems we face right now such as corruption in the government but i think our country is doing something to lessen its use. Right now I believe scientists were able to find or produce possible substitutes for oil. I think we also have battery operated jeepneys in Makati, but the problem is it's too expensive and it requires 8 hours of charging.. still insufficient..
We should try to invest for renweable energy but not too much though as it will lead into a food scare like now we are experiencing in the Philippines.
The reason why the United States is having oil price hike is because they are having economic crisis. They also use the money for wars. They monopolize the oil for their own good without thinking about other countries like the Philippines. Since oil plays an important role in our lives to travel from one place to another, and since we do not control the oil,unfortunately we cannot do anything about it. Imagine the price of 50+ pesos per liter? Along with other things that have rapidly fluctuating costs because of all the problems our country has these days, we will suffer if the prices will continue to rise.
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