By: you are all colors

you are all colors — Tue, 30 Nov 1999 00:00:00 +0000

I'm really touched by your enthusiasm , but i have noticed few things in what you said that only tell part of the story . you have to be informed right , and i will try to clarify the picture for you .
Arabs only produce what can be from 20 -25 % of the total production of oil . OPEC countries , which is an international oil production cartel , which includes non-Arab countries produces only around 40% of the general production of oil .
the remaining 60% is produced from non-Arab and non OPEC countries . that includes places like Russia , the North Sea and the US itself .
so you see Arabs are not blamed for the hiking prices .
but you have to know that the these prices are high because the dollar is going down . actually i heard that the price of oil is equivalant now to what it was in the beginning of the 80s . something like 35 dollars for a barrel of oil . actually the price of the dollar compared to the Yen at that time was 235 yen for a dollar . today it is 101 yen for a dollar .
so you see the problem will aggrivate with time and the price of oil may rocket higher every time the dollar slips down .
i wish you a good day .

By: BeachBum

BeachBum — Tue, 30 Nov 1999 00:00:00 +0000

True. There is a movement from oil nations to change the currency to Euros. They will basically punish any country unwilling to do this by causing oil prices to increase.

Comments on: When m'sia ask govt why fuel prices have to go up, govt will say,ARABS sells oil to M'sia in US currency T/F?

By: you are all colors

By: BeachBum