Oil Price Rising ……
June 25, 2008
Almost all the newspapers have reported that the OPEC authorities have said that they have done everything in their power to control the oil prices-by increasing production in countries such as Saudi Arabia and Kuwait.
Still the oil prices are steadily rising and the OPEC now says that it is not in their hands anymore .The prices are rising only because of the speculators and for no other reason and if these practices are to continue,prices will continue to rise.
I don’t know why the speculators do not forsee the after effects of this unprecedented price hike.The poor and the middle classes all over the world are suffering.Prices of all essential commodities are increasing because of the oil cost incurred during transportation.
In Indonesia the peoples’ suffering has reached the point where parents have resorted to selling their children or sending them off to orphanages as they cannot feed them.
“Hundreds and thousands of children live in orphanages in Indonesia and their number is steadily rising.This is directly proportional to the rise in oil prices” says ‘Save The Children, USA’.
So what is the solution?
The only solution is to stop speculation on crude oil.Nowadays after air and water,the next most essential commodity essential for survival is oil.If speculators continue at this pace, the next commodity to be introduced into the trading market will be air and water!
All essential commodities will be under the control of the speculators.Therefore atleast now, the masses have to be made aware of this dangerous situation.Otherwise this will be the beginning of the end.Specualtions on luxury commodities like gold or silver do not really affect the poor and the middle class.
In order to curb these unscrupulous practices,the UN should act now.This is a war against the poor and the middle class irrespective of nationality,color or caste.The UN must pass a law that places a ban on speculation on oil and other natural resources.UN should take an active part in controlling the price of natural resources.If no one is interested in protecting the poor from exploitation by selfish speculators,then the God Almighty will act on their behalf.Once He takes control,these selfish ones will be made to suffer for the injustice they have inflicted on the poor,who have no way of making their voices heard.
If they or their loved ones get a life -threatening disease like AIDS or cancer,what will they do with all this money they have made . Someone has to pay for the suffering happening , this IS WRONG .
Take it or leave it…..
Regards .
Salim Abraham.
His Majesty,the King of Saudi Arabia,in his speech given during the opening ceremony of the Energy Convention said …..
“The truth behind the oil price hike must be explained and it is our duty.
The end users should find out the reason for it and it is their obligation.
It is due to speculation by selfish traders and not because of parity in production and demand.”
His Majesty also introduced a new program named ‘Energy For The Poor’.He ordered a fund of 1000 million dollars for the prgram by OPEC and said that Saudi Arabia would be the sponsor for the whole program.
He mentioned that the oil production was very much in sync with its demand.
Now we feel that the main culprits are Morgan & Stanley,Goldman Sachs and other financial institutions who have invested heavily in this trade,manipulating it and making the poor man suffer.
What the western world perceives as high demand for oil,meaning high demand in the commodity market,is not high demand in the physical oil market only virtual demand created by futures trading .
Regards .
Praise God .
Salim Abraham .
Solution . Bright Idea !
June 11, 2008
I believe that natural resources should not be traded on futures market that is what we should do to maintain the price at a reasonable amount such as 70 NYMEX .The game is changing manipulators are playing and everything is going to shi* .
Developing countries are going to stop development .real estate prices will fall .economies will be destroyed ,countries will be forced in to recession .
Is this what we want for our children ?
P.S
The only Solution is STOP OIL Trading on Futures Market .Only people who should be able to buy OIL should be actual consumers such as……..countries .
Regards
Gordon
Admin<>Shalom -SGA Inc .
