|
Firstly, the story below is just spin, plain and simple. The price of fuel at our petrol pumps has little to do with the world price of oil but EVERYTHING to do with the fact that 75% of the price is in tax. Give me a break! How hard would it be to reduce the amount of tax per litre to help hard working families who are struggling right now.
Oh, it would be a huge effort actually. That's because Gordon, the economic genius, has had 10 good years of high taxation and yet the country finds itself totally skint.
Just look at the 10p tax debacle when he had to bribe us with money he has had to borrow!
Roll on more fuel protests.
Gordon Brown has urged oil industry leaders to come up with ideas for improving supplies as fuel costs soar.
The government has announced moves to increase North Sea oil production, but Energy Minister Malcolm Wicks said they would have no impact on fuel prices.
The PM, who met industry bosses, warned that high oil prices were here to stay.
As the talks began, Business Secretary John Hutton announced the go-ahead for oil production to start in two new fields, West Don and Don South West.
The areas are expected to start operating in the first half of next year with an estimated production rate of up to 50,000 barrels of oil a day at their peak and a total output of 50 million barrels.
Mr Hutton also unveiled plans for new oil and gas fields to be carved out of unprofitable parts of around 30 existing fields, which could see additional daily production of 20,000 barrels of oil.
A record 193 applications have been received to explore for oil and gas in the latest licensing round.
After the meeting in Banchory, near Aberdeen, Mr Brown said: "We want to do more to increase production in the North Sea and we have made proposals today that I believe will incentivise, not only existing fields, but new fields, to come on stream."
However, Mr Wicks said the measures were "not going to affect prices today or next week" and he dismissed suggestions the announcement was a gimmick designed to distract attention from the political row over fuel prices. (LOL!!!)
He did concede that ministers had been working on this licensing round involving the Don Fields for more than three years.
Alex Kemp, professor of petroleum economics at Aberdeen University, warned there was no short-term solution for increasing production in the North Sea. Captain Gatso only at Speedaholics: speed cameras, car and motoring news
Last update: 21-06-2008 07:46
|