SUDDEN ROLLBACK on OIL PRICES COULD BE DECEIVING

Oil crisis is now a full-blown worldwide epidemic that's hurting economies of many nations, and United States of America is not an exemption.

Despite never-ending global talks and negotiations, propositions and plans on countering measures, crude prices soared at its height in July, reaching $147 per barrel.

Oftentimes, I kept thinking, was there really a substantial reason for these oil producing countries to increase their prices? And, in almost every week in the past.

Is there really a crisis on its production and reserves?

Are the oil supplies really getting tighter or someone else is just hoarding it?

Top oil producing are of those from the Middle East, muslim countries, which to name some are Kingdom of Saudi Arabia, United Arab Emirates, Qatar, Brunei, Afghanistan and Iraq.

There are allegations against U.S. taking advantage of the wars in Iraq for its own economic gain and oil reserve stability.

What are the effects of these allegations to the minds of the oil producing muslim countries? Do they sympathize with Iraq? Can this lead to jihad (muslim's holy war to expand territories ruled at the expense of territories ruled by non-muslims)?

How United Nations (UN) and Organization of the Petroleum Exporting Countries (OPEC) can mediate and ensure the utmost interests of the world?

These concerns ought to be addressed ASAP.

Although, OPECclaims that they "remain committed to its longstanding policy of promoting market stability and providing a reliable and regular supply of a very valuable resource to the world. And, also appreciates the positive role that oil has played in the past and will play in the future to raise the living standards of people all over the world," fact is,oil is the most unstable market in the world.

Oil crisis has the cold feet of many nations around the globe. It means increase on prices in gas, electric, and basic commodities. It manipulates economy, triggers inflation and freezes growth. And, what's more saddening it's more felt by the average-income earning families.

We can't just wait for the American-led oil and gas pipe-line.

Instead of pursuing senseless war that causes not only lives, but, deep wounds in diplomatic relations, along with conservation, America has to totally reroute its oil resources from non-muslim oil producing countries like Venezuela, and encouraged non-muslim allies to do the same.

In addition, government should intensify research and exploration on petroleum alternatives.

The need to address all these are highly critical and of too time-sensitive. It's not only billions of dollars involve. Our means of transportation going not only to the places we love, but, to our work primarily, how often we can bring our cars, our standards of living, the food we can have on our table, even the kind of life and education we can give to our children.

We need action, not just debate, solutions and not just promises.

Although, there's a fall of $30.00 per barrel these days, since it's July's peak of $147.00, marking its lowest of $112.48 per barrel since May, we can't just be complacent that end to the crisis is possible.

U.S. Government should remain vigilant and determined in finding measures to counter even the unexpected.