Price of Crude Oil Dipping Below USD70......

The price of oil continue its downturn momentum registering a 16-month low with a more than 50% reduction from the high of around USD147 in July.

you can read more at

Oil falls below $67 on demand worries

Bloomberg Oil Prices

I believe this is more due to a corrective mechanism in the market, since the last time oil is shooting up is more due to a speculative and manupulative effort of the market and supported with the peak oil theory.... Well, I am not a very strong supporter of the Peak oil Theory.. Although I believe there is a real arguments in justifying the theories, but it is all in a debatable issues and there is always factors that can affected the progress towards a peak oil crisis...

Althogh the oil prices has decreased at a very drastic reduction, I hope this will not hamper the on-going effort to replace the dependency on oil to alternative energy... I hope all those people who are currently pursuing technological advances in alternative energy will not get frustrated or being darg down with the development in oil prices... I believe these continuing effort in finding replacement for oil is very important and very relevant.... we just cannot have the attitude like the malay proverbs "mendengar guruh dilangit air ditempayan habis dicurahkan" meaning you just throw away all your water supply because you just heard the thunder...

Anyway, hopefully the government can really look into this matter and perhaps we can have a lower diesel and petrol prices.. I believe there will be a lot more positive outcome from the lowering of the oil prices as opposed to the negative impacts. Maybe the most impacted industry is the oil industry, but hey, these companies are all very rich oil companies... The government need to take a positive initiative on this and maybe it will give some windows to re-engineer and re-structure the nations economy...

Anyway.. time to take a break...

GUITAR CONCERTO#3 IN AMINOR