The Oil Price

According to Murray (2008) in his article, “Oil: A global crisis,” the oil price has increased to 300% of the real price because of the Iraq war. Also, he says that Dr Salameh, who is the oil economist, recommends that the Iraq war should stop, so the oil price will go back to the regular price which is $40 a barrel. Moreover, the author says that Goldman Sachs mentions that the oil price may increase five times more by the next year. Furthermore, he says the oil financial support may stop from the countries that cannot pay for it. Besides, Dr Salameh mentions that three years Iraq had offered the U.S. that they would give them oil if they quit the extracting from Iraq and if this happened the oil price would be regular. In addition, he says that the decrease of the oil use in the developed countries might help to reduce the oil cost.

It is apparent that the author’s opinion is right in this article. There are many things that affect on the oil price. First, the Iraq war had an effect on the oil price. Second, the OPEC should do something about the oil price. Third, the Middle East, and Europe should do something about the Iraq war and the U.S. policy.

First, the Iraq war had uneffect on the oil price. The oil price started to rise when the Iraq war started. Therefore, we should stop this war because as a result it does not affect the Middle East and Iraq only, but also the entire world. by the increasing of the oil price there are some countries that have been affected in an economic way because of this rise in the oil price.

Second, the OPEC should do something about the oil price. The OPEC should control the oil price and put a limit on the increase of the oil price. Also, they should push the oil producer countries to support the poor countries or the countries that can not afford for the oil because of the huge increase in the oil price now.

Third, the Middle East and Europe should do something about the Iraq war and the U.S. policy. They should stop the United States from taking advantage of the Iraq oil and hurting the entire world; even the American society has been affected by the oil price.

In conclusion, the oil cost has increased in a scary way, and we should stop it. In addition, there are many things that affect on the oil price. The Iraq war had effect on the oil price. The OOEC should do something about the oil price.
The Middle East and Europe should do something about Iraq war and the U.S. policy.

Reference
Murray, J. (2008, May 25). Oil: A global crisis. Independent.com.uk. Retrieved July 2, 2008 from http://www.independent.co.uk/environment/green-living/oil-a-global-crisis-834023.html