Oil gas prices

Philippines
June 9, 2008 6:27am CST
There have been a lot of opinions on what affects the price of oil. Some even ignorantly blame the government for this- opinions which i find totally laughable and idiotic. It is the oil speculators who dictate the price of oil and they are the ones to be blamed for the increasing prices. As experts would say, we have a lot of oil reserves to go around at the moment, but the speculators, being the unscrupulous businessmen that they are, jack up oil prices at the slightest sense of supply instability. On our part, i think it is best to just start saving and tighten our belts. The government on the other hand should consider increasing taxes on luxury items like tobacco and alcohol. I do not see any advantage in removing taxes on oil and gas since these taxes are used to subsidize rice and other basic commodities to help the poor.
2 responses
cuteshe
@cuteshe (126)
• Thailand
11 Jun 08
The government is involve in this and also to be blamed. Why?Because of course, if they govern the country well, inflation and cost of living will be not be that high.True, we cannot control the price of oil but at least if we live in a stable economy, slight changes in oil prices will not highly affect our lifestyle.
chennai_b02
@chennai_b02 (1735)
• India
10 Jun 08
For the increase in the price of the Fuel and the Gas prices, always the people blame the governement is not a bad thing, According to me, Government shoud get it alright by way of.. -- Reduction in the State Taxes, for example in Tamilnadu, India we are paying around 57% as Tax on Fuel cost.. do you think that is it really acceptable one..? -- The Crude oil price increase is not only for the country like india.. Its applicable for all over the world.. The petrol price in pakistan Rs.17/- Malaysia Rs.18/- this means that they will not get it suffer from the crude oil price, or they are all very rich country to suffer all the difference in price by way of subsidy by the government..?? -- In this issue, Government can only has to interfier in this issue and solve the problem, you can me cannot do anything. -- We can do only one thing.. we can find the solution for alternate for using the Petrol and diesel and also for the Cooking gas, if we are not afford to pay that much.. and those who are afford to pay the increase the cost, they can pay and continue to use the same.. thats all..