Wednesday, March 12, 2008

The Pain of the Pump

From America to Jordan, citizens are struggling to make ends meet, whether it's pain at the pump; making the hard decision to heat or not to heat the home; or even to buy the staple food in Arabian cooking, the humble 'cousa' or corgette now at almost JD 2 a kilo! With a slowing economy and rising cost of oil which surged to $109.72 a barrel (according to the AP), costs are likely to keep on rising, particularly when you consider the other side of the coin – profits - and big oil companies are reaping them in by the barrelful.

Consider this: record profits in the oil industry recorded for 2007. From Exon Mobil's shocker of close to $40 billion, the largest corporate profit in American history and now to Shell, at almost $27bn (£13.6bn), the highest earnings ever made by a British company. http://www.guardian.co.uk/business/2008/jan/28/royaldutchshell.oil

Outrageous wouldn't you think – as outrageous as the cost of a kilo of cousa!

And meanwhile back in Jordan as we continue to be 'hijacked forward' as a friend once put it, the people live on with ominous predictions http://www.jordantimes.com/?news=6369 as the voice of the people remains silent along the corridors of Parliament, stifled by the nonsense of personal honour and broadcasting.

Just when are our elected representatives going to start doing the honourable thing and at least turn up for their meetings?

J

3 Comments:

Blogger No_Angel said...

well the fact of the matter is they either don't care, or they can't do anything about it.
For once it's not the oil cartels that are at fault for the high oil prices, not trying to make them fully innocent, but its actually the banged up, and crippled US dollar that is causing all these inflationary pressures on the region. it's only going to be much worse come september, and if they manage to drop the Fed's interest rate close to zero you can start praying since we can't unpeg our currency... 25% inflation rate for the year, here we come :)

Wednesday, March 12, 2008  
Blogger MommaBean said...

Ouch, you go girl.

Wednesday, March 12, 2008  
Blogger joladies said...

No-angel .... spot on! However is it only the dollar?? What exactly is our esteemed Ministry of Finance doing http://www.jordantimes.com/?news=6385 .... just looking at rumbers making sure they do the math .... but maths is one thing ... what about society, the end beneficiary of all this math and book balancing gone beserk? If 'we the people' can no longer afford to play the game .... I dread to think what comes next! And yes Mommabean .... 'ouch' it hurts!

Thursday, March 13, 2008  

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