Need of the hour is cooperation

…Opec has tried its very best to find a sort of balance in global oil markets. But these efforts are not enough, neither in providing the world with its oil needs or in decreasing global warming.

The reasons behind this are several. The oil production rate has reached its maximum level for Opec countries, any increase in production will need huge investments. These oil producing countries do not need additional revenues currently.


…The world seems to be close to an energy crisis if countries and economies do not cooperate to solve this situation. Opec alone cannot carry the burden of all the changes taking place in the international energy market. The reserves of most Opec member countries have started their count down, but we cannot hang all the responsibility on one part. Cooperation has to take place, to cut down the negative affects of this complicated issue.

Gulf News