Crude oil prices are skyrocketting everyday, affecting the economy of the world.Who is responsible nd solution

Question

What is the role of OPEC? US economy is in jeopardy.Why US is acting as a mute spectator.

Answer 1

Role of Opec is to safeguard and control the oil reserves in the Opec nations. It simply is a cartel. Its goal and agenda is not to protect consumers.

Answer 2

go to www.youtube.com

and type in "the end of surburbia"

a 53 minute movie - free to watch.

It will be a jaw dropping experience.

Answer 3

We all are its time to stop buying gasoline we need to restore our power s***w gasoline. Isn't it time we wake up and realize

that if we really wanted to we could have electric or hho water powered cars on the market in full force within 3 years. its up to you because we buy it so we are a Nation or world of consumers if it cost so much stop buying it.

Answer 4

It will rise like this because of monopoly. US is party to this inflation. So far solution is concerned World must go for alternative source of energy.

Answer 5

The only effective solution is to nationalize oil production and distribution until the American consumer can get a sense of relief from the burdensome expenses of energy and oil. It sounds drastic. It has become economically critical.  Oil producers and refiners have enjoyed a unique opportunity to drain financial resources from the American Mainstream.

Nationalize energy for a set period of time. Issue $10,000 energy compensation per household. When oil production and refining is returned to the oligopoly, strict guidelines must be observed.