Oil Price

Stock markets worldwide are hit badly again this week. After the last sell down because of subprime mortgage in US mid 2007 , financial market is somewhat recovered a bit. Nowaday, because of oil price, the whole financial markets are dragged down again. Well, I am not really sure what happens to the oil price. Some experts said that it's caused by China and India powerhouse that results higher consumption, not enough exploration, etc.

I am not a financial expert here, so my opinion should worth 2 cents only. Price should be controlled by demand, so, higher demand results higher price, well how beauty this concept that we learn from school. Well, combine with human greed, demand can be a true and fake demand. Let's see this Friday, when oil price was increased by 10$ in one night, is there really so high demand for oil overnight? My bet, this must be another bubble price again, created by some big player to gain more money, similar to dotcom bubble. Whatever this big player is called, speculators, capitalist, etc. And, who will be the real victim? Of course, big corporate will get hit by this, but they can have a strategy to offset it, like passing it to consumer. Countries with heavy subsidies on oil, like Malaysia and Indonesia, have just recently increased the oil price to not overblown their budget, and it's really necessary. If there's no such action, well, we'll see another 1998 crisis. It's such a pain to make such decision, as poor people will suffer. Well, we as just ordinary folk can only try to help by reducing power consumption. Be green and save money and mother earth as well.

Update 17 June: Oil touch new high 139.89. Scary..

Talk about green, incredible hulk is released this week. I think i will like this one more than the previous Ang Lee's version.