March 4, 2011 4:39am CST
Here we are again, due to the conflict in the Middle East countries and also in Libya, the oil price start to rise up again, for the first world countries it is ok to have that increase becuase they are not actually affecting the said issue but for the third world it was a vicious kind of event, once the oil are increasing its price the more the poor countries are struggling for survival and the most results are starvation and high crime rate, when these things have to end?
2 people like this
5 Mar 11
Hello my friend shellback Ji, I think thisn is a thumb rule. Richer wants to become richest and simulate a condition when there wa sno money transaction, it was a barter system, people would exchange the items for their fullest satisfaction. There has nver been anytime when prices have come down and remained same for considerable one or two decades. They have only increased and increased and poor are ought to suffer and find their own means for their survival. Thanks. May God bless You and have a great time.
• United States
16 Mar 11
Not only will the energy cost increase but so will the cost of almost all consumer products. What needs to be done is the first world countries need to expand their energy production. If the US, Canada and other countries would expand their oil, gas and coal production we would not be hurt as much by the unrest in the Middle East. This would also help the poor countries of the world because there would be more energy on the market and the price would be lower. Every one would benefit, except the dictators in the Middle East.
4 Mar 11
It is indeed a big blow to the economy of many countries. Oil prices are already high and it is becoming worse each day. In the Philippines, the prices came up by almost 2 pesos within 2 days. This is just too much to take. Everyone is affected when the prices go up. I also have the same question. I just hope that things get done to resolve these issues with regards to the dependence to oil.