The way some countries are playing games,with their economy and oil,it is not far away before it hurts a lot of other countries,on their economy.These contries can be Militarily stong and may not tolerate economic down fall because of this one product called oil.They try and launch military adventure for the oil and can trigger non neuclear mediium scale wars with oil rich countries.Thus resullting in further eroding economically.Before any such things happen,lets hope that good sense will prevail in the oil rich countries,and bring down the oil prices to an acceptable levels.
Demand increased supply remained same..that is the bottom line...US Feds, Big Oil cos this that are sub plots...basic economics still remains same....high prices are good in a way..huge guzzlers and oil addicts like the US must adjust lifestyle - either dig up more oil from Alaska and not worry about Polar bears or simply cut down consuming oil...build sub trains, buses, railroads and quit 3-4 cars per family and SUVs.
RE:Demand & Supply
by MS on Jun 03, 2008 10:32 PM Permalink
Yes, we are feeling the effect of Oil peak. Prashant, it doesnt matter if it is 4-5% of more, the bottom line is that demand-supply gap is widening. Come up with some way of reducing fuel consumption and reduce the burden on our nation.
RE:Demand & Supply
by Prashant on Jun 03, 2008 10:21 PM Permalink
do u know what is the percentage change in demand compared to last year's daily consumption? IF there is 4-5% change why the prices are changing 200-250%.? Its all greedy speculators trying to make bucks.
RE:RE:Demand & Supply
by Rajendra Rao on Jun 03, 2008 11:42 PM Permalink
Bush is to blame for many things. His Iraq war is going on for ever- every day USA lifts supplies on many cargo planes to Iraq- and stupid politicians make frequent trips to Iraq- wasting a lot of fuel. Bush did not implement a good energy policy. Had he done that, USA would have seen a significant increase in alternate fuels and technology. Bottom line is- the world petroleum deposits are being wiped out at a fast rate- 80 million barrels every day. This planet is doomed with idiots running the countries, and more idiots breeding out of control.
RE:Demand & Supply
by sushma anuprava on Jun 04, 2008 11:05 AM Permalink
What an idiotic article this is by rediff? The main reasons behind the bubble are not discussed. Waste of time going through this.
