The oil crisis facing the world, is not about supply or about the increase in demand. It is about the speculators who are pumping huge amounts of money into forecasting a serious shortage ahead. Not now but in the future. And that the prices will escalate enough for them to make a killing. If one looks at the real picture, there is no shortage of oil, there has been no shutdown of any major producer, nor has there been a sudden jump in the import from any large consumer. The Chinese import for their industrialisation is not more than 10 percent annually. This is certainly not enough for the huge jump in the world crude rates. This jump is matched by the phenomenal profits of the oil companies and of course the oil producing countries. The thirst for profits of the oil traders has benefited the oil producers - Iran being a major beneficiary. The US government must be wondering at the irony of this windfall benefiting a prime enemy of American and Israeli interests at the cost of millions of innocent citizens of the US and Europe, engineered by the greasy gnomes of the oil trade. There is no threat of an oil embargo, nor of a war, it is just pure speculation, funded by the huge mountains of American and European cash at the disposal of the Soroses of the Oil trade. They stand to make a killing at the expense of hapless citizens of the world. As I had written in an earlier piece as far back as 2005, when an attack on Iran was imminent, that the rise in oil at 100 $ a barrel would impact on the food prices has proved prophetic with the current sky high prices of bread in Europe and America. In the meantime we poor Pakistanis are suffering with 50 percent living below the poverty line, and many more being pushed under thanks to the current oil crisis which has managed to create tsunami that is a threat worldwide. With no remedy in sight. Electricity riots are already a common sight but the frequency of breadlines breaking into riots is increasing daily, not just in Somalia but in parts of the third world where we thought wheat was never in critical shortage. The riots in Pakistan are for two reasons. Firstly, the price - a worldwide phenomenon, and second, a physical shortage due mainly to incompetence in the many layers of our government. The power shortage is something else. Usman Aminuddin, the ex-minister of power in the federal cabinet, a Cambridge man, and a no-nonsense person, stated on TV last night that our coal reserves in Sindh were larger than the entire oil reserves of Saudi Arabia. Yet in Pakistan the coal excavation has not even started. We have sunk billions of dollars into Gwadar port, which has handled zero cargo so far, since its dramatic opening two years ago, and it will be many years before Gwadar will see a cargo vessel. Whereas Coal, which was a fuel long before oil appeared on the scene, has been kept buried (in the literal sense) for even our coal operated locomotives (I remember them) were changed to oil, for reasons best known to our government. It does prove that our oil lobby is the most powerful today, and unless the government can convince the oil companies to invest heavily in the new Oil-Liquid technology, our coal will be destined to remain buried underground for years to come. Perhaps the financial wizards who have conjured a financial marketplace out of thin air would like to replicate their magic in this area. We would not need running battles with the US over the Iran Pipeline, nor a peacekeeping force the size of the UN to watch over it. This raw material belongs to us and we can sell the power to our friends and neighbours. Neighbours can become friends when they know you can put them in the dark with the flick of a switch. The best friendship is one that is built on dependence. Now that we will enter a new era of democratic governance, where the collective will of the people shall rule, the collective sense of the people is far more sensible, and less liable to screw up than a handful of cronies. The crony will always give that advice that serves his interest first and the country's later - if at all.