I have to admit that the rise in oil prices is having an impact on the Chinese economy.

The soaring crude oil price, to some extent, will urge domestic companies to cut down energy consumption, upgrade technology levels and enhance technology innovation.

In the big oil shocks that really damaged the economy, the tax on the consumer was many times more than that, but that alone wasn't enough. You also had to have people worrying that prices were going higher forever.

Oil prices are effectively a tax and we want a low-tax global economy. I am happier with lower prices, even if the profits of oil companies come down.

This project is hanging by a thread. Chad remains unprepared for the complexities of an economy increasingly dominated by oil.

Cameroon's current oil revenue does not enter the local economy. Oil revenues go abroad to the overseas accounts of the elite.