A Call for Oil Price Stability

In less than a year, oil prices have gone down partly because of the ongoing global financial crisis. I first thought of the Iraq invasion in 2003 as the major cause of price increase of oil.

Early this year, I've witnessed first hand here in the Philippines how an oil-consuming country gets affected by the continuing rise of oil prices. People literally jammed our light-rail transit system. Those who would normally use their cars to commute to work suddenly found themselves among the throng of people lining up to get a cheap ride on the trains.

I read an article on the dailynews.com today urging cooperation among oil producers and consumers to help stabilize the price and future supply of oil. Will our world leaders finally "talk" about this pressing issue? You can read the whole article from this link:

http://www.newsdaily.com/stories/lj506554-us-london-energy-meeting