Billions of dollars have to be used to eliminate terrorism on the earth by many countries, but have these countries done anything to to eliminate poverty? Did they show any zest to find solutions to the above mentioned problems faced by the common man? Won't these simmering discontent and widespread social and economical disparities lead to insurgency and terrorist activities?
It is still an un-answerable question. One may doubt whether global wealth has indeed increased but more like to be concentrated or marginalised in the hands of an elite few. Global corporates are roaming to mobilize the world's total wealth into their pocket by squeezing and exploiting the great assets of a country, common man.
There is a divine word that says "Due to the mischiefs of men's hand acts, havoc will erupt on land and ocean". The divine revelation has come as true. All the corporate tycoons are exploiting the weakness and nature too. Now they are recognizing that the fossils fuels no longer will be in the earth and are trying to find alternative fuel source, thus was created food scarcity.
Take the case of crude oil. The resources are cartelized by some countries. They decide whether to increase or reduce the production of the industrial blood. According to their decision, the world prices of commodities and cost of living sways from one end to the other. The oil prices are skyrocketing day by day in the international market.
Even though the facilities for extracting oil for all global majors, they depend on this oil cartel, OPEC, to meet their extra requirements. From end January 2007, it has kept global crude prices higher than $ 50 per barrel. From April 2007, at levels higher than $ 60; from September 2007, at above $ 80; from late February 2008, at over $ 90 and from 14 March 2008, at over $ 100 per barrel. They have been increasing they domination over the world by oil blood.
Did you ever think why OPEC is increasing oil prices? OPEC began with five major oil producers including Iran, Iraq, Kuwait Saudi Arabia and Venezuela and later eight other countries had joined with them. In fact until 2007 the OPEC was not seen as price gouging corporate. Since the formation of OPEC in 1960, it had been fluctuating its prices in accordance with the production.
Till September 1999, crude was below $ 20 for per barrel and it remained below $ 30 up to March 2004. The analysts have pointed out many facts that made OPEC an oil cartel such as increasing oil demand from India and China, difference between demand and supply, volatility and the role of commodity market speculations etc.
Rather than all these factors, there is one thing is that the US has irked oil rich countries that included the OPEC. If US had only isolated Iran from mainstream alleging nuclear enrichment, sometimes the world could breathe easier without Iran's presence but it had tried to alienate Venezuela, UAE and very recently its biggest ally in the Middle East Saudi Arabia.
In India, increasing prices of crude oil has affected the bottomlines of public oil companies who are making huge losses. Indian government has announced the fuel prices hike is inevitable in order to support public oil companies who are reeling under the crude prices hike in the international market.
But the government is lagging its decision in foreseeing forthcoming Parliamentary election. Still the government is mulling to hike Rs 10 for petrol and Rs 5 for diesel. These hikes are unbearable as far as concern to a common man.
Why can't the government utilize other machineries to cull the revenues to compensate PSU's. Inflation is a common threat to all classes of people although some are more affected than the others. The government which spends crores of rupees in other sectors such as sports, defence, science and technology should infact find out some way to cushion the common man from the effect of oil and food grain price hikes.
Inflation: The silent killer
