The current oil price is far, far removed from the LAW OF SUPPLY AND DEMAND. It is a very well known fact as well that the current price which has moved from the normal and REAL PRICE OF $20-$25 per barrel to about $150 per barrel is being manipulated by a clique that would probably like the whole world to pay for the IRAQ WAR in order to releave the US from the heavy financial burden. Since the very big corporations that benefit from this, so to say, BROAD DAY ROBBERY, are owned by the developed countries and these corporations have to pay taxes, the ultimate benefactors of the ROBBERY are the deverloped countries and the losers are the undeloped countries. Being a comodity that affects the whole world, the UN SHOULD GET INVOVED WITH THE MECHANISM OF OIL PRICING AND NOT LEAVE TO THE CLICKS AND CROOKS AND ROBBERS WHO RAISE THE PRICE AT THEIR WHIMS AND CAPRICES. THE UN OWES THE WORLD THIS RESPONSIBILTY AND SHOULD BRING THE OIL PRICE DOWN TO ITS NORMAL LEVEL OF ABOUT $25 PER BARREL. The production cost in Saudi Arabia is about $3 per barrel and even the tar sand production does not cost more than $15 per barrel. At about $150 the mark-up of Saudi,s crude 5000%. IS THE UN COMPLACENT WITH THIS ESPECIALLY WHEN THE POOR COUNTRIES ARE BENG MADE TO PAY FOR IT?

I don't think leaving the oil pricing to UN is advisable, because UN as an organization has a problem, which is the issues of the BIG FIVE (USA, RUSSIA, BRITAIN, CHINA AND FRANCE. However, in the organization the BIG FIVE only attend to issues urgently if it involves them but if not the issue will be left unsolved. Since OPEC is a different organization but employs the services of the BIG FIVE but could not allow them to control the oil price, it has now become an issue that should be looked into; I don't think it's fair.

Wonders shall never end! Is opec now being forced to sell what it does not have? If there is any manipulation of world oil prices, I think the Americans should look at the speculators on the world market rather than focusing on producers. I am sure we do not need to bring to their attention the fact that the world markets for oil are all situated and operated in non-opec countries.

hello, OPEC should understand that rising oil prices, is an ill wind that will blow no one on earth, any good. the sooner they, OPEC, controls the oil prices, the better for everybody. otherwise, my advice to the consumer nations, is to identify the products consumed by OPEC countries, and tax them heavily to recoup their losses. thanks. girl.candy.

What a double standard by the U.S. House of Representatives. First of all they should sue the American Government for refusing to open more drilling sites in America, and for refusing to stop stock-piling crude oil in America. The American Government is therefore directly affecting the volume of oil supplied in the world market with these acts. Why should they tell OPEC to remove the speck of dust in its eye while they themselves are having a big block of wood blocking their own view? It should be noted the America can directly affect the world's oil supply volume, but instead its Government deliberately refuses to open more of the capacities and reserves in America because they are selfishly holding on to these reserves in wait for the other world reserves to deplete. This is the naked truth! It is not just fair to continue shouting “wolf” and blaming OPEC alone.