He Who Controls The Oil

Oil. Liquid gold. The lifeblood of the economy. Oil, perhaps, is one of the most prized of all the natural resources available to us. It is said that he who controls the oil, controls the world. In a way this is true because without the continuous flow of oil into one country the development of that country would cease. Our dependence on this very limited slowly depleting natural resource is not only scary but should also be a source of concern. What would happen if one day this precious liquid suddenly runs dry? What would become of our industry? What would become of our economy? Production, development, progress, everything would be as if it's all for naught. It would be like we're back in the stone age.

Even now that we have it in abundance, we can feel how dependent we are on it. Oil prices direct our every move. When the price of oil in the global market rises, the prices of all other products and services increase. If you watch the news, almost everyday you would hear the words "oil price hike." Those three dreaded words can set me to the edge of my seat, three seemingly innocent words send my blood to a boil.

What is absurd about this is the fact that the price of oil on the market is not directed by the basic concepts in economics, like the law of supply and demand. No. It's controlled by some great super powers who are above the mere mortals still directed by laws. Our dependence on oil is what gives them this power. Our only hope for salvation from these petty (but global) crooks is to find an efficient and effective substitute for energy source but for now, "he who controls the oil..."

Source:
GMA News TV Saksi: Oil Price Hike