World Oil Price settled at USD105 level
A few months back the oil price hit an all time high of USD145 per barrel which have gave a very significant impact to all of us. We tried various ways to reduce cost and to cut our dependent on fuel as much as possible. Many chose to car pool to work or taking public transport as we need to get ready if the oil price will ever hit the USD200 level. This is very much possible and as the main source of energy is depleting by the day, it is just a matter of time when our oil field will be empty.
So what have we learned from this few months? Now that the oil price has dropped, are we going back to our old habits of not being prudent enough. Soon we notice that the roads will be back with traffics and people started to spend unnecessarily buying things they don’t really need. Are we convinced enough that the oil price is going to drop more from now on and the recent hike was just some speculators driven and not because of the shortage of the commodity.
The price will surely be back upwards again in the near future. We need to minimize our dependent of oil so that whatever price the oil price now, we will have very minimal impact from it. And again we need to explore some other form of energy and start to focus on it from now on.