I take this opportunity to air my views on the uncontrolled rise in oil prices and request you to publish my views in your letters columns. Oil prices have affected every individual everywhere in the world, except those living in oil producing countries.
Oil producers have formed a cartel and are known as Opec, who regularly meet to devise ways and means to control the prices. In economics, supply and demand regulate the price structure. These Opec countries have, as a matter of fact, monopolised the control over production, resulting in speculation of prices by creating scarcity.
Since every individual person is affected throughout the world, it becomes necessary for the United Nation, to study the gravity of the situation and force oil producing countries to disband the Opec cartel, in order to enable each oil producing country to compete fairly with one another, so as to check the rise in oil prices.
This is a very serious matter and it is highly desired that organisations which take lead in mobilising the opinion of the people of all the continents, to present the views of the sufferings of the people, before the United Nations.
It is desired that people at large should support the views of disbanding the cartel of Opec and create an atmosphere whereby high inflationary tendencies can be controlled to provide relief to the affected people of the world.
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