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Oil prices and developing countries
The effect of crude oil prices on the economies of countries is a very unpleasant experience that does not only negatively affect economic growth but also brings about disastrous consequences that can also lead to unexpected political upheavals and cause havoc for a number of people.
When the prices of crude oil begin to rise, it results in inflationary trends that bring about high prices of goods and services even in countries that are economically well off. This is an unfortunate situation in which many developing countries find themselves and are expected to cope with whether they like it or not.
FUEL PRICES
The past few weeks have seen crude oil prices fall, for which reason the cost of fuel has become a bit more bearable.
It is not that fuel prices are being sold at very low prices, but compared to previous times, these fuel prices can be described as better.
PRODUCTION CUT
It is high fuel prices that have made economic life unbearable in both developed and developing countries. In the case of developing countries, many budgets have been thrown out of gear. This unfortunate situation is likely to arise again because Organisation of the Petroleum Exporting Countries (OPEC) wants to cut down on the production of crude oil. When this happens, the prices of fuel will start rising again.
In the case of Ghana, the gold for oil policy being implemented by the Akufo-Addo and Bawumia administration is yielding positive results, but if crude oil prices in the world market continue to rise because of production cuts by OPEC, the stable prices in Ghana may start rising again.
OPPOSITION’S COMMENTS
We have heard comments from the opposition that the government should not take any glory for the current fall in fuel prices. Their argument is that if world oil prices begin to go up, the inevitable result will be rising fuel prices.
While this is true, if things go bad because of rising crude oil prices on the world market, the effect will be unpleasant for all Ghanaians, not just a section of them.
Why don’t we think about the country before any other political consideration?
GOLD FOR OIL
The gold for oil policy is good because it has helped to reduce pressure on the dollar. This pressure reduction has helped stabilise the cedi, preventing any sharp rise in oil prices in the country.
If OPEC carries out its production cut, the effect on the global economy particularly that of developing countries, will be very disastrous.
Already, oil prices have surged after several of the world’s largest exporters announced surprise cuts in production. The price of Brent crude oil is trading above $84 a barrel after jumping by almost six per cent.
ECONOMIC CONSEQUENCES
This is not pleasant news because of its unbearable economic consequences for developing countries, many of which are struggling to find their economic levels.
Economists warned that higher oil prices could make it harder to bring down the cost of living. But the RAC motoring group said it does not expect petrol prices to rise unless the higher oil price is sustained over several days.
UNSYMPATHETIC OPEC
Brent crude prices rose after Saudi Arabia, Iraq, and several Gulf states said on Sunday they were cutting output by more than one million barrels of oil a day. It seems as if, in the world of today, OPEC does not care about the plight of developing countries, but how much money they can make for themselves alone.
In addition, Russia said it will extend its cut of half a million barrels per day until the end of the year.
Energy giants BP and Shell saw their share prices rise on Monday, with both rising more than four per cent.
DEVELOPING COUNTRIES
Developing countries, including those in Africa, must know who their true friends are. If things are to continue this way, then countries in the developing world, including Ghana, will be pushed to the wall.
It is our expectation that OPEC will not continue with its decision for long in order to give some breathing space to all developing countries, including those in Africa.
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BY DR KOFI AMPONSAH-BEDIAKO
THE typical itinerant salesman in Sikaman is a herbalist. He is normally a slim macho with the capacity to perambulate the expanse of area covering the triangle of Accra-Tema-Ashiaman. In short, he can walk a total of 60 miles a day, marketing a product that cures every disease, including poverty. 
The door-to-door herbal pharmacist advertises his product by word of mouth. He has nothing to do with the Food and Drugs Board (FDB). After all, his concoctions do not feature on FM stations.
Those herbalists who cannot walk to propagate the herbal gospel, liaise with drivers of mass transportation and their mates. They are, therefore, given the chance to sell their products on Benz buses that ply the routes.
Normally, the herbalist starts his sales message with a prayer and Bible study. He asks the passengers to bow down their heads in supplication to God the father, the son, the Holy Spirit.
When a herbalist asks the passengers to close their eyes and bow their heads, Moslems on board naturally feel offended. They feel that the herbalist has no right to assume that every passenger is a Christian. They think such an assumption is an affront to Islam.
So a Moslem on board will raise the hand for a point of order. He’ll remind the herbalist that it would be in his own interest to mind his language.
“Be careful the way you address people in a public place. Not every person here is a Christian,” he’d state assertively.
Of course, the herbalist will promptly ignore him, but would all the same “watch” his tongue. Who knows whether or not the Moslem brother is inspired by Quoranic zeal to defend the tenets of Islam to the hilt?
When he starts saying, “Wallahi!” and “Inshallah!” it could be the beginning of proclaiming Islam as supreme, a point which must be driven home with talibanic precision.
So the herbalist must tread carefully lest he steps on fire.
The herbalist could even add a measure of mirth to it all, by announcing that Christians on board today have very interesting company on the journey, but that should not detract from the business of the day.
The Moslem brother will weigh the words carefully and offer a wry smile.
He must be careful the occasion does not degenerate into the use of semantics and proverbial oration to deride his conviction that public utterances must be mindful of religious sensibilities. He has made his point very clear and expects that it is taken in good faith in the interest of a peaceful journey.
The herbalist will now open the New Testament and preach salvation, stating clearly that salvation can come only through Jesus Christ and NOBODY else.
The Moslem brother will now start twitching his moustache. The visible and almost revolutionary reflexes of his upper lip can be an indication that sentiments have begun superseding reason, and the outcome could well be tragic now shift uneasily in his seat.
The time has come for him to also express his right to the religion of his fore-bears. He’ll put his hand into his pocket and rise to his feet. The time has indeed come!
This article was first published on Saturday, September 9, 2006
When the cause of a particular problem like sickness, disease, sudden illness, a social issue etc. are not known, it stands to reason that resolving it becomes a huge challenge.
Citizens would understand the government when public announcements are made to the effect that government is trying to find a solution to the issue, even though it is taking a while for it to be resolved because citizens are rational beings.
On the other hand, if the solution to a particular issue is known to everybody but the government for whatever reason, is dragging its feet in resolving it, citizens become frustrated and begin to lose trust in their leaders.
One such issue is the heavy traffic along a section of the Kasoa – Odokor road. A short stretch of bad road between the traffic light at the Weija Government Hospital and the entrance to the entrance of the overhead that leads to the N1, is the cause of the problem but nothing is being done about it, day after day, week after week, month after month. Thus is clearly unacceptable.
Another issue that requires urgent attention is the lack of pavements along a lot of streets in parts of the various Municipal Assemblies. Exercise is a prerequisite for long life and healthy living and for those of us who it has become a way of life, this issue of people putting up structures right to the edge of the drains beside the roads, are making life difficult for us.
We are compelled to walk along the roads, putting our lives at serious risk. Pedestrians should never be compelled to compete with vehicles on our streets and roads. Roads and streets are made for vehicles and pavements are made for pedestrians. That is the norm. Any attempt to normalise a situation where pedestrians are mingling with vehicles is insanity.
It is the road regulations that makes it so and therefore district or municipal assemblies are to take responsibility and ensure that spaces for pavements are not encroached upon. Citizens have rights that must be protected by their leaders and making pavements available to pedestrians, is one of them.
When we hear of teachers having sex with students, it appears it is something recent. It is not a new phenomenon. It has been there since Adam. Perhaps this issue is getting much attention due to the proliferation of social media. It was an open secret in times past when Teachers were in relationships with female students and some married them immediately after completion of school.
Some teachers were also known to be having unholy interactions with female pupils but due to the times that these acts occurred, human rights issues and the awareness around it, allowed such unscrupulous teachers to get away with their crimes.
Now we are in a different era and so a Headmaster is now in hot waters. He is alleged to have raped about 19 female students and as usual, some officials tried to cover it up and are also in hot waters and their actions or inactions in the matter are under investigation.
Why the man has been allowed to roam freely without being arrested is simply mind boggling. It appears that the law applies differently, depending on who you are. This issue came to public attention sometime in August this year, yet the police had not arrested or invited this man for question regarding the rape allegation.
It has come out that he is a Constituency Secretary of the ruling party and the question in the public domain is that, is it because he is a political figure that is why he is still walking around without questioning? I believe in the rule of law so let us hold our breadth and let the proper thing be done.
The police must however be seen to be active in this matter. God bless.
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