Scrap the ERC Fuel Price regulation and let Kenyans enjoy the full impact of Saudi Arabia´s sabotage of the US industry: I was among the few Kenyans that vehemently opposed the establishment of Price Controls of fuel by the Energy Regulation Commission ERC. Knowing the way big money organizations operate in Kenya, I argued that sooner or later the big money would be used to buy out ERC to maintain high prices. Free Market, and opening the Oil Sector to real competition is the way to go. For instance, in the past 5 months, the Saudis have decided to play dirty in oil production by pumping huge amounts of Oil into the market in order to paralyze the American Oil production that was poised to overtake the Saudi capacity in five years to come bloomberg/news/2014-07-04/u-s-seen-as-biggest-oil-producer-after-overtaking-saudi.html. The reason Saudi doing this is due to the technology used to explore Oil in the US. The US method is five times more expensive than the Saudi method. Consequently, the US can only become a top Oil Producer if prices remain very high. Otherwise it will be meaningless to produce expensive Oil. The Saudis, in a bid to retain control of their status and influence as the top producer have decided to flood the market with the Oil, thus reducing the prices to all time low. Now back to Kenya, ERC just announced a very very small dip in prices. Clearly, the price of Petrol should not be more than 70 bob per litre. However, due to the so called regulation of prices, Kenyans are now paying much higher prices for petrol. We should petition Parliament to move with speed to force ERC to let the market decide the price. That is the only logical way of ensuring that the we enjoy the global powerplay between US and the Saudis. We just do not want to read about it in the papers- we want to feel it in our pockets.
Posted on: Tue, 16 Dec 2014 14:21:29 +0000
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