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EU Leaders Look For Answer To Oil Crisis

As the price of oil continues to have a growing impact on the everyday life of every person and business in the world, the EU has decided to conduct a three month study to see how the impact of the crippling rise can be offset. While there are a number of issues to discuss, the subject of taxation on fuel is bound to rear its head with the UK imposing amongst the highest tax charge on fuel throughout the EU. How will Gordon Brown respond to the move?

Even as the study was being announced there were behind the scenes disagreements with some countries in favour of capping the tax charge and others looking at making industries more fuel efficient. There is even a suggestion, outside of the EU, that the announcement of a review was purely for cosmetic purposes with little or no chance of a widespread agreement being reached.

Gordon Brown has more to lose that many at the table and while he may be in favour with the EU after pushing through the EU Treaty, even in the light of Irish voters rejecting the move, money talks around the EU bargaining table.

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