Oil price hike
Zeenat Z. Syed UPS eDeployment
The price of oil is on the rise. The sharp rise in its demand in countries such as China and India is putting pressure on the oil reserves. There seems to be an oil depletion fear. Experts who met at Edinburgh recently believe that oil depletion will begin in 2008, as opposed to the earlier projection of 2030.Now in this situation where the supply of oil is less compared to the demand, it is expected that the price of oil and substitutes will rise. The leader of the opposition claimed that "the government raised the prices of kerosene, diesel, and petrol several times in the last three years without considering the sufferings of the people". Such a comment is quite surprising because it sheds a negative light on a situation that makes the entire world of oil consumers worried. Other countries are thinking of the substitutes of oil. I think if the opposition wants to hold the government accountable it should do so for the failure of the government to find substitutes to deal with the rising oil prices, and the possible depletion in its supply in the years to come.
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