Major then highlighted many of the changes occuring in Europe, and how they affect the world at large. While most celebrated the end of the Cold War and the fall of communism, the changes actually means more wars are likely to happen, Major said, explaining that the war in the former Yugoslavia would have never happened if not for the fall of the Soviet Union. When asked about oil prices, Major said there is little governments can do to influence production decisions by other countries. But what governments can do is control taxes, he said. As prices rise, taxes could be reduced to stabilize the price.
Instability is almost as damaging as the price itself.