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Talk Is Cheap But Petrol Is Not

Gordon Brown has received something of a rebuke from Saudi Arabian officials as he looks at ways of bring the oil price down to more manageable levels. For the last few days Mr Brown has been very vocal with his opinion that the oil countries around the world should be looking to increase supplies and bring the oil price down. While there did appear to be some movement on the subject of the oil price and supplies, Brown was criticised for the fact that taxes in the UK are the main reason why everyone is feeling the pinch.

The rebuttal cast doubt on the view that the oil countries of the world were taking Mr Brown seriously and has the potential to open up dangerous divides between those countries which are net exporters of oil and those (like the UK) which are net importers. The comments attributed to Saudi Officials did somewhat take the glory away from Mr Brown who had been cast as the peoples champion by many.

As the arguments rage on, the price of oil is currently around $136 a barrel and some are even suggesting that we could see $200 as the winter season kicks in and oil demand rises yet higher!

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