Last Updated: Fri Aug 05, 2011 14:05 pm (KSA) 11:05 am (GMT)

Dr. Saleh Al Namla: Is the oil price really high?!

Dr. Saleh Al Namla

These days there are many complaints from Europe and the United States about the soaring prices of oil. Last Friday, oil closed at $117 per barrel.

Europe and the US—which have been accustomed to get oil in very cheap prices—for political, not economic, reasons cannot withstand any increase in the oil prices whatsoever.

By holding a comparison between the price of an oil barrel, which is a part of all details of our lives, and the price of any other important commodity exported to us by Europe and the US—not necessarily that we couldn’t live without—we would easily realize how the west is really hypocritical and makes a big deal out of the oil prices.

If we compare the price of an oil barrel with the price of a barrel of any other product, we will find out the following:

1) A barrel of Brent oil ($117).
2) A barrel of Coca Cola ($126)
3) A barrel of milk ($163)
4) A barrel of mineral water Perrier ($300)
5) A barrel of Tropicana orange juice ($307)
6) A barrel of Budweiser beer ($447)
7) A barrel of Scope mouth wash ($682)
8) A barrel of Starbucks juice ($954)
9) A barrel of Ben and Jerry’s ice cream ($1,609)
10) A barrel of Bertolli olive oil ($2,370)
11) A barrel of Tabasco spices ($6,155)
12) A barrel of Visine eye wash ($39,728)
13) A barrel of Chanel perfume ($1,666,560)…My God…more than six million Saudi riyals!!!

After this simple comparison, is the price of a barrel of oil—this vital material that enters in all aspects of our lives—low or high?!

Or is it just a kind of unexplained complaining from western communities, which are accustomed to launch wars against others for the sake of living a comfortable life?!

Imagine if oil was only owned by the US and Europe, for how much would they sell it? They might not sell it except to those whom they are pleased with. Would they consume their oil reserves by producing huge quantities just to please others?

Of course not, and the proof is: medicine, weapons, progressive technology….etc.

The other catastrophe is that along 80 years of oil production, most oil-producing countries have not invested their oil wealth is useful and potential way.

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