The oil price is shooting upwards; and businesses are sliding downwards. The oily domino rolls in the market; and there is no stopping it for oil is the engine of growth. Without oil, growth stops.
And when growth stops, markets shrink. And when markets shrink, businesses close shop. And when businesses close shop, unemployment rises.
And when unemployment rises, people commit crimes to get money. They rob; they steal; they threaten; they kill. So, how do leaders solve this domino of problems?
Firstly, convince the oil-producing countries (Opec) that the unprecedented rise in the oil price will boomerang on them. Oil consumers will reduce their use of oil and buy less and less oil because their decline in business does not warrant the need to buy more oil.T hen the price of oil plummets for there are fewer buyers.
Secondly, scientists should work extra hard to find an alternative to oil. Once this is discovered, there will be less dependence on oil. Obviously, the day of wine and roses for Opec are over.
Thirdly, transport facilities should be improved so that commuters and commodities can be mass-transported. This will mean less dependence on lorries for the transportation of goods and on cars for the transport of passengers.
The result is less need for oil; and reduced traffic jams. This will result in the fall in oil prices.
Fourthly, government leaders should cut down on overseas trips unless absolutely necessary. With the advent of tele-conferencing, leaders need not travel overseas for conferences and seminars.
Messages could be conveyed via the Internet. Holidays could be spent locally and there is even no necessity to visit Asean countries. Malaysia, for example, has so many beautiful places still unexplored.
Hence, government leaders, civil servants and the people at large could spend their vacations within the country and keep our currency within.
Fifthly, the government should retain the subsidy so that there is no necessity for the oil price hike and cut down on other extravagant expenses. It is not enough to call on others to change their lifestyle - the leaders must set an example by changing their lifestyle first.
A good leader will lead the way and do it first. Then and only then will the people at large accept the pronouncement and do likewise.
Undoubtedly, the oil price hike will have a domino or ripple effect and the majority of the people will suffer. They will be hungry and angry and they will demonstrate.
Understand the root cause of these street protests before ordering the police and FRU to shoot tear gas at the protesters. A leader must use his brains and try to find out whether the protesters have a genuine cause to demonstrate.
Do not be blind and deaf to their cries of hunger and frustration.
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