Why should innocent countries be penalized?

B. S. Wijetunge, The Island, Asia News Network, Colombo

It is now common knowledge that the World Trade Organization, along with its side kick, the International Trade Centre, have together gradually and intentionally favored the rich nations against the poor. So much so that, it has unwittingly caused enormous enmity between the haves and the have-nots and helped terrorist organizations to flourish and given them a cause to establish themselves, internationally.

With the collapse of the old colonial empires a new form of trade colonization which favored the old colonialists was introduced. The systems of international banking, insurance, shipping, tariffs and the entire gamut of international trade laws have favored the rich nations bringing in a neo-colonialist trading base from which the so called third world countries can never lift their heads.

Knowing these facts the U.S. made capital from its false propaganda calling for a "New World Order" but increased its bullying and the disparity between the rich and poor grew even wider economic slavery.

Right now we are seeing world oil prices rising owing to a stupid and selfish invasion (Bob Woodward's latest book Plan of Attack) by two major powers who dragged some lackeys along with them into the fray. But why should the poor countries who had nothing to do with this disgusting, barbaric and burdensome conflict, have to bear the cost of this painful and shameful invasion.

It is also the ploy of the WTO mechanism which allows Cartels, Commodity Markets, Futures Markets etc to be players in world price fixing. The manipulations and dirty dealings behind these obnoxious forums are well known. We have even learnt how some UN officials made billions by manipulating Iraq's "oil for food" program. Should we say more. Whatever the price of oil, companies (not producers) like Shell, Caltex, Mobil, Exxon etc. always increase their profits. UK companies last year made a massive profit of US$40 billion.

In as much as the U.S. opts out of various forums and also blatantly disregards or breaks trade laws, the larger groupings of poorer, nations as a block, must emphatically demand the renegotiating of trade protocols to suit their justifiable and equitable needs. OPEC must recognize the glaring fact that the poor or the so called third world countries should not be penalized for no fault of theirs, in the rapid surge of oil prices. The ever spiraling violence in Iraq, Palestine, Nigeria and now Saudi Arabia would sooner or later push up the price to over $6O a barrel.

If OPEC is willing to bend backwards to increase its output for the benefit of the U.S. and its allies it should allow the poor countries to negotiate bilateral agreements with OPEC, on the basis that they were not the cause or the reasons for the crisis in oil production and consumption but only innocent by- standers and their requirements are far meager compared to the gluttonous consumption of oil by industrialized nations, who are also the major polluters of the earth.

OPEC would do well if it evolved a simple system to subsidize oil sales to poor, third world countries. Anything short of this proposal would spell disaster to the worlds poor and encourage international terrorism and further destabilize the world.

Nobel economics laureate, Joseph Stiglitz, an American, called on Asian countries to challenge the U.S.'s domination of the international monetary system, with their own monetary integration. This could be speedily achieved within Asia and Africa if they intensified trade amongst themselves, using the Euro as the currency of exchange, especially with petroleum exporting nations (Indonesia, Brunei, Malaysia, India, Nigeria, Libya and Iran.)

Let's negotiate bilateral agreements with oil producers in Asia and Africa now, by emphasizing this very unfair price hike in oil on innocent poor nations.