OPEC countered that the mechanisms behind the oil price increase is due to the United States, speculators from hedge funds and various market stocks that have spun prices up to unprecedented levels to a state of crisis for the industry itself.

Not only Asian countries and other world economies are feeling the bite of the oil crisis, but this battle field will affect big name corporations in the United States as well.

Just look at the drastic drop in production figures for trucks in the 2-tonne or larger segment. Even the SUV segment has contracted to alarming levels and just might see an end to its future as days go by. Looking back at Asean, many countries adopted measures of gradual price increases about 2 years ago.

Malaysia which earlier showed resilience to such matters, recently implemented a 40-60% oil price increase. The international community
needs to find a way out of this dilemma. Now if we wait for Lady Luck to
sing her praises then I think the chances are next to nothing.

But if we are lucky, then maybe, just maybe the big players will stop playing their useless games that spell nothing but disaster for the future.