Hazel Blears....my pet hate...i would like to see them using a shovel and hard hat if only to plant a tree instead of talking out of their ar se. The British public have to listen to the same old rhetoric day in day out. As someone in the audience said last night....Boris might be a bit of a ' Toff ' but a least he gives a straight answer to a straight question.Labour's Answer To The Fuel Price Crisis Is ';increasing the global supply of oil';...how?
Oil , like everything else, is priced according to supply and demand. The supply is diminishing, demand in growing. OPEC control the quantity of oil, so your government is correct to say the answer is to increase the global supply.
The government can only try to convince OPEC to change their policy, but if they do it just means the world will run out of oil quicker than planned. The government could decrease the level of tax charged on oil, but I doubt they really could do much else.
We need to find another source, and before you say bio fuels is the answer, you need to see that the recent increases in food prices is linked to the amount of land being used to grow bio fuels.
Quite right.This is just another slogan.It is at best an aspiration.More likely they hope that enough people will fall for it. As Hazel and Harriet know or certainly should know there is nothing this Government can do to increase global oil supplies.I did hear one Labour spokesman say that this 'policy' would involve disbanding OPEC but that is even more Mickey Mouse than the original soundbite.
I've always said New Labour couldn't run the proverbial p!ss up in the brewery - and this ';fuel crisis'; proves it.
On the one hand you've got Labour blaming the price rises on a ';global shortage'; whilst OPEC keep saying there's more than enough oil to satisfy demand.
Then you've got Brown imploring OPEC to ';turn on the taps'; whilst 60% of the oil arriving on our shores from the North Sea is being exported.
If they stopped the oil companies exporting the bloody stuff we wouldn't have a problem in this country. We must be the only oil producing nation on the planet with a ';fuel crisis'; at home. What a fecking joke!!!
Today's price for a gallon of petrol in Saudi - 74p. In Qatar - 64p. In the UK - 拢4.90
Castrate all the heads of OPEC.... that would be a start, they are purposely holding up production to see the west squirm, and ultimately experience economic collapse..... Then castrate all those fanatic environmentalist liberals who block oil drilling in areas known to contain vast quantities of oil.
Wake up...it's simple...
Maybe they can pressure the Liberals in the US Congress to allow for drilling in the Gulf of Mexico and Anwar region of Alaska. BP did an independent survey a few years ago and said that the Gulf could have greater oil reserves than all of Saudi Arabia.
You're absolutely right.
The fuel price crisis has its own internal mechanisms, but the only long-term solution to this is to stop using so much oil, stop using so much energy, and be more responsible about what we consume.
The Arabs are sick and fed up of this lack lustre government 'living off their backs' pushing up the price of oil by increased taxation!
Invading Iran or other such hair brained scheme...
Please do expect any sense from this cluelesss government...
By raising taxes no doubt.
They do it all the time and that is why prices go down....
These silly women talk garbage most of the time, and this was yet another example.
OPEC have already stated that they are dismayed by the price of oil per barrel, which independent financial experts have estimated as being worth $65, when the current price is $135: double the real value.
We keep on hearing about ';shortages of oil'; and ';increased demand'; from China, India and elsewhere, but this is not about to happen overnight. Like all shortages, there is fear of shortage and actual shortage, and at the current moment there is no shortage of supply: hence the true estimated value of oil being $65 per barrel.
A more pressing problem is that of oil-stability, and with problems in Iraq, as well as Nigerians blowing-up pipelines, there are potential and actual instabilities on the supply side of things. However, taking oil as a world-trade commodity, it matters nothing whether Iran only sells oil to China, and will not supply western countries, because it merely takes pressure off the global market by reducing China's dependence on other world-oil resources.
There are, of course, vast reserves of oil and gas in Russia, and only this week, the Americans have started to develop a large new oilfield beneath the sea in the Gulf of Mexico. There are also vast reserves of oil in the Kurdish region of Iraq, which remain largely untapped. That said, oil is a fairly finite resource, but alternatives may be developed which reduce dependency on what oil remains.
Taking a slightly more sophistcated view, the problem may well have nothing to do with supply and demand, but in the climate of fear being generated by investors and speculators, and backed by an immense amount of money. With vast amounts of money, the big investment people know how to buck the market and create ';bubbles,'; all of which are usually built on foundations of straw. Once a situation is created whereby the price of something starts to escalate disproportionally, you can be sure that a ';bull market'; is in operation; resulting in a ';run'; on that particular commodity.
That ';bull market'; rush is self fulfilling and self-sustaining, as people see prices being driven up and up, with no apparent ceiling. The usual trick is to invest in ';futures'; whereby the price is fixed at an agreed rate at a specific point in the future, and of course, when something is increasing in price exponentially, then buying ';futures'; becomes an attractive proposition.
So the big institutions offer a seemingly reasonable deal, by staking the price of the particular ';bubble'; commodity, and then getting the big consumers to agree to a financial commitment. The institutions can then guarantee a fixed-rate, and apparently shield the end-consumer from apparently never-ending price-hikes.
The whole thing is actually a con-trick, because eventually, the ';bubble'; bursts and the price crashes to realistic levels; thus leaving the end-consumers saddled with major debt to the big investment corporations and other speculators.
People never seem to learn form history. The ';bubbles'; have include the infamous South Sea bubble, the .Com bubble, the housing bubble, the food commodity bubble, the credit bubble and now the oil bubble. These bubbles, happening one after the other over a relatively short period of time, could be enough to destroy the world economy, and could even bring down some of the biggest institutions. It is a situation which could, quite easily, lead to another world-war.
Meanwhile, politicians ring their hands (or sit on them), and completely miss the point. The simple fact is, the financial institutions are actually more powerful than individual governments, and unless that situation is put to rights, we will all be victim to their machinations and double-dealing.
The problem will never be solved until the people responsible are properly identified and brought to heel, but then, some of us already have a very good idea of who they are!
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