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After days of rumours it has been confirmed that Toyota is to recall 437,000 Prius hybrid vehicles amid concerns about the car’s software and how it reacts to breaking on slick surfaces. While not...
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Thursday 19th November 2009
In a startling revelation which does nothing to dispel the fear that the oil market is in some way rigged by investors, it was revealed that 10 oil tankers have been anchored off the south coast of England for some months, waiting for the price of oil to rise. The owners of the oil tankers have refused to unload their fuel at various ports in the region as they fully expect the price of oil to continue rising for the foreseeable future.
When you consider that the price of oil has risen from $40 a barrel to $80 a barrel in just 12 months, and has been as high as $100 a barrel during this period, there is concern that motorists in the UK will be stung by the ever increasing strength of the oil price. There are already forecasts that the price of petrol in the UK will balloon over the next few weeks and months and indeed the UK government would not be against this because of the ever increasing amount of tax they would receive.
In many ways the UK motorists is seen as an easy target for the government, which needs to replenish its damaged finances, and with investors and oil operators "playing the game" with regards to the price of oil, the future does not look good for UK consumers and businesses. |
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