Oil prices in international markets, $139 per barrel at present, are expected to shoot up to $150 or even $200 per barrel in some time. This will lead to hyper-inflation. Prices of all products, commodities and manufacturing will rise due to higher costs of sourcing & production and transport. We could be heading for a global recession since demand will be severely depressed. We need to: a) increase production; b) cut consumption; and c) usher austerity measures worldwide on an urgent basis. The UN/World Bank has to coordinate such a global effort.
?Rajendra K Aneja, Dubai
Clarification
While the article written by Deepali Pant Joshi (?A good time to marry?, June 16) carries an institutional affiliation, it should also have stated that ?These are her personal views?. The error is regretted.
