https://www.taxtmi.com/news?id=477 Rapid escalation of international oil prices threatens development gains by diverting resources and fueling inflation. Structural supply vulnerabilities, dwindling spare capacity and weak fresh investment increase risk. The speaker blames unregulated speculative trading in over-the-counter and futures markets for recent price spikes rather than demand growth. He urges coordinated producer-consumer action: accelerate resource development and investment, reassert industry leadership in price formation, and implement a Price Band Mechanism where consuming countries guarantee a price floor and producing countries guarantee a price ceiling to stabilize markets. en-us Sun, 22 Jun 2008 17:06:11 +0530 Mon, 23 Jun 2008 10:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=477 Rapid escalation of international oil prices threatens development gains by diverting resources and fueling inflation. Structural supply vulnerabilities, dwindling spare capacity and weak fresh investment increase risk. The speaker blames unregulated speculative trading in over-the-counter and futures markets for recent price spikes rather than demand growth. He urges coordinated producer-consumer action: accelerate resource development and investment, reassert industry leadership in price formation, and implement a Price Band Mechanism where consuming countries guarantee a price floor and producing countries guarantee a price ceiling to stabilize markets. News - Sun, 22 Jun 2008 17:06:11 +0530 https://www.taxtmi.com/news?id=477