Whatever country it is, or whatever corporation, we all seem to have suffered a slowdown in economic growth, attributable to the high price of Oil as well as policies being pursued.
Remember the time the oil price reached $147 a barrel? Leading to that, economies started to slow down. People started to feel the pinch. Petrol and household energy bills started to reduce peoples' spending power. People stopped using the car, and switched to using the bus instead, which became overcrowded.
Coupled with this, the food price inflation. Remeber the 70p loaf of bread going up to 130p, making people eat two slices instead of three?
Corner shops could just not compete with the supermarkets, and so many shops started to close in many areas. Boarded up shops in the malls, half vacant High Streets, jobless people, worry about the future, nervousness about what was happening to peoples livelihoods.
That's what the high price of Oil gave us all. Squeezed household budgets, unemployment, lower standards of living, worried faces.
Then remember the period the price of Oil dropped to $35 a barrel, and people had lost confidence in the future? Building projects were being put on hold in the Middle East, construction workers were being laid off...
All nations would rather have Recovery, but I suggest the price of Brent Ice at $125 and Nymex at $104 or so is far too high. A price around $100 and $85 respectively may save everybody, so the worldwide economic Recovery may not falter. It is time there was a forthright discussion on this matter, and agreement on a policy to pursue this humanitarian aim.
I pray that the powers that be will listen to my message.