Fuel prices are soaring – and are set to rise even higher.
The £5 gallon has made an unwelcome return, as prices per litre reach a record high. There’s been a 25 per cent rise since January.
But more hikes are on the horizon, analysts warn, as the return to 17.5 per cent VAT next month will add 11p to the price of a gallon. The increase to 108.7 pence per litre (ppl) for petrol and 110.0ppl for diesel also wipes out the savings British motorists made over the last 12 months, after diesel prices fell from their 133.25p per litre peak back in July 2008.
But next year could be worse still, according to the RAC’s Cost of Motoring Index. Motoring strategist Adrian Tink said: “The index is very sensitive to petrol prices, so costs look as if they’re going up for 2010. VAT will add another 2.4ppl, there’s a scheduled budget increase in April, while changes to road tax bands will see the cost of a year disc rise by £30 on average.”
Fuel prices have risen due to a hike in crude oil costs – despite healthy supply, the latter have doubled from under £25 a barrel in January.
So, how will the predicted increases affect you? It's a question we want to find the answers to. Why not join the debate, and post your thoughts below.
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Given the massive impact fuel prices have on everyone and the economy, I believe there is a good case for a fuel watchdog in the same way as for telecoms and household energy.
This would help ensure a fare deal for motorists and prevent fuel price fixing between the oil companies.
They all claim that they make very small profits on forecourt prices, but that is simply because they "sell" the fuel internally at inflated prices. The end to end profits are massive and oil companies are amongst the richest in the world....at our expense.
I agree with Paul. I think also a clear statement from the suppliers would help. I am an ecnomist and I| don't understand why fuel prices are going up. It maybe that the suppliers are just securing their income.
The oil companies are entitled to make a profit, it's this greedy labour government who are taxing us to the hilt, nobody does anything about it so they continue to tax the motrorist all the more, we are paying in the region of 75p in the pound, we all need to make a protest and say enough is enough.
Fuel prices need to be high enough so that the majority of people care about the fuel efficiency of their vehicles, currently most people don't so the bad news is it's still too cheap!
However, the tax used should be put towards creating a public transport infrastructure that's good enough for us to actually want to use it - currently I'd rather walk (most of the cycle lanes where I live are useless tokenism) or drive (it's much cheaper for the 4 of us in my family to drive than use public transport, so despite living 100 yards from a station and major bus route I drive).
The one thing I really do get annoyed about with rising fuel prices is that when oil prices fall the oil companies announce massive profits as their raw materials costs have fallen. When oil prices rise they announce massive profits because the value of their product has gone up! As long as the same companies drill for oil, own the refineries and sell us the end product they'll continue to make massive profits whatever the price of oil on the world markets - until we all stop buying fuel (if anybody has a practical suggestion of how we might achieve that I'd like to hear it)
The oil companies are entitled to make a profit, it's this greedy labour government who are taxing us to the hilt, nobody does anything about it so they continue to tax the motrorist all the more, we are paying in the region of 75p in the pound, we all need to make a protest and say enough is enough.
Whilst there is no doubt that oil producers and refiners manipulate the 'taps' to maintain oil prices, and speculators also cause increased prices, I agree with 'olsharezee' It is really the Government at fault for the high fuel prices taking about 80% of the pump price in taxes, and even more in the future.
BROQUETMAN
The reason it rises this fast in this country has nothing what so ever to do with the cost of a barrel ofm crude. Its this government firstly having to pay for the cost of 2 theatres of operations, Iraq and Afghanistan (both justifiable in Their eyes only) and their expenses, dont forget who pays them. Yes"US" the people of this country. Politicians that dont listen to the people are dictators.
Each Increase in fuel prices is nothing more than additional tax burden on the motorist. It is the government who is unfair and greedy. We all know that money raised from the motorist is another valuable source of revenue for government and the money is not primarily spent on transport infrastructure. The question is: How do we stop this and successive governments from ripping us off?
Lets not put all the blame on the government.
Shell profits between July & September 2009 were £1.83billion!
BP's profits between July & September 2009 were in excess of £3billion! (nearly half of that in the same quarter 2008)
The government should also be embarrased by the amount of tax they apply to fuel, it's disgusting & just shows that this country is (and always has been) run by greedy crooks.
Why is Diesel more expensive than petrol in the Uk when everywhere else in Europe apart from Switzerland it is cheaper ? is it because as it is rip off Britain that the government wanted and encouraged people to buy Diesel for less emissions etc and when the sales went up with more efficient technology (quieter, more power etc) and more economical that is why the tax went up so you end up paying the same approx as petrol per mileage. So the extra expense for buying diesel unless you keep it and run it in the ground would not make any financial sense!!!!!!
Well then, if the Oil Companies did make that much profit, taking Monkeyboy76's figures as gospel. Let's not forget that 75p or there abouts of every pound from fuel is tax from the British motorist, so if they made that much profit how much is the Government making out of us the poor British motorist? In America and Australia I have heard they are moaning about having to pay approx. £2 a gallon, there is no doubt about it we are being ripped off.
Each Increase in fuel prices is nothing more than additional tax burden on the motorist. It is the government who is unfair and greedy. We all know that money raised from the motorist is another valuable source of revenue for government and the money is not primarily spent on transport infrastructure. The question is: How do we stop this and successive governments from ripping us off?
Well then, if the Oil Companies did make that much profit, taking Monkeyboy76's figures as gospel. Let's not forget that 75p or there abouts of every pound from fuel is tax from the British motorist, so if they made that much profit how much is the Government making out of us the poor British motorist? In America and Australia I have heard they are moaning about having to pay approx. £2 a gallon, there is no doubt about it we are being ripped off.
Vehicle driver or not, everyone pays for high fuel prices through every purchase they make through a till. 90% of goods are delivered by road in this country, unlike the US our fuel prices are extortionate and are added to the cost of everything we buy. So even our basics are far more expensive. Knock 45p duty off a litre of fuel and see the impact it has on our economy. Foreign trucks will fill up here, people will travel further to find work, manufactured goods will be cheaper to everyone and more product will be sold, therefore increasing the tax into the overall pot. Simples!!!
But if I also took Monkeyboy76's "Shell profits between July & September 2009 were £1.83billion!
BP's profits between July & September 2009 were in excess of £3billion!" figures as gospel, for every 25p Shell/BP (& not taking into account other suppliers) make the Government get 75p(ish)? Does that not mean that they've raised at least £14.4 billion pounds TAX in 3 months?
Yes anonstarter, it seems to be the case, but it's apparently not enough they still want more and lets not forget all the revenue from the camera's etc etc... the mind boggles with it all.
Tax Tax and more Tax, thats Browns answer to the general public who need a car, road infrastructure is not being supported even though fuel Tax is on the rise, someone needs to make a stand on this, but how do we do it?
These Green freaks don't help with this so called "Global Warming Nonsence", soon we will all be driving Electric Boxs, which will kill the economy and jobs within the motoring industry.
Who will buy Oil then when we don't use it?.
I am sick of this governments attitude towards the motorist, but who should we vote in to take thier place?.
Be aware that "YOU" are being "RIPPED OFF" by a government who do not care about the working class of this country, they see "You" as a sheep or a cow which they keep milking to fulfill their lust for them to keep spending "YOUR" money taking it from us so easily by Taxation. Then next come the manufacturing companies, they see how easy it is for this government to relieve "YOU" of "YOUR" hard earned money so following "Your" governments example they are doing the same. "RIPPING YOU OFF"
Did anyone notice the price of fuel going down when the Chancellor reduced VAT? Of course you didn't, because he sneaked in an identical increase in fuel duty at the same time, so the price never moved. So when he of the strange eyebrows returns VAT to 17.5%, it will represent a real increase in the taxation applied to fuel, but nobody will know he has done it. Brown and his Darling protege - the stealth tax masters!
I agree, we as motorist's are used as a cash cow, but the money has to come from somewhere,only one third of the population are working and paying taxes, the other two thirds are made up of children , students in further education and the elderly, all reliant on the welfare state, as there is no limit on immigration we now have half of half of europe flocking to this country adding to our ever increasing tax burden.
stevie t
When the vat and prices went up in the states they dumped the pump just for 24 hours n the governemnt was hit so hard they dropped the prices. Why are we paying more now even though the price of oil is lower than this time last year when the prices soared we need to fight back now. Why is it BP are always 1-2p dearer than other providers we need to unite and take a stand
Peter Davison
there is no need for fuel to be the price it is, we are paying more now, it's just over $50 a barrel than we was last year when it was over $100 a barrel, it is this rip off goverment trying to screw every penny it can out of the motorist, they say they want cars off the road, that is rubbish, it was stated earlier this year, that less motorist was driving their cars, and that the goverment was losing over £1billion a day in tax's, when is this goverment going to realise that the motorist is the backbone of this country and get off our backs.
We are too blame for allowing these idiots of successive governments to apply such a ludicrous rate of duty. It is so short sighted and hits everyone just where it shouldn't. Why don't they start asking why the States always recovers quickest. Because it is cheap to get around and do business, so people get back on their feet. Not kicked continually with Fuel Duty, Spirits Duty, VAT, Council Tax, National Insurance, Tax on earnings, Tax on savings, Business rates, Corporation Tax and now most laughable of all the Carbon Tax!!!!. What do they think we are!! It is total and utter madness to tax any economy as much as we are and then wonder why we are not out of recession when everyone else is!!. We are slowly being strangled and choked to death. Who pays the most? The poor and working man just trying to bring up a family or keep warm in old age until death when they have another slice with Inheritance Tax. It is hurting so much people are just numb. Wake up polititions and Smell the Coffee!!!
We are too blame for allowing these idiots of successive governments to apply such a ludicrous rate of duty. It is so short sighted and hits everyone just where it shouldn't. Why don't they start asking why the States always recovers quickest. Because it is cheap to get around and do business, so people get back on their feet. Not kicked continually with Fuel Duty, Spirits Duty, VAT, Council Tax, National Insurance, Tax on earnings, Tax on savings, Business rates, Corporation Tax and now most laughable of all the Carbon Tax!!!!. What do they think we are!! It is total and utter madness to tax any economy as much as we are and then wonder why we are not out of recession when everyone else is!!. We are slowly being strangled and choked to death. Who pays the most? The poor and working man just trying to bring up a family or keep warm in old age until death when they have another slice with Inheritance Tax. It is hurting so much people are just numb. Wake up polititions and Smell the Coffee!!!
Fuel is dirt cheap. It costs less than bottled water for heaven's sake, so why are people complaining; nobody moans about the price of Perrier water?\ Actually it will never be this cheap again, because world oil production has finally peaked and no matter how much more they find, and they aren't finding much (and forget tar sands - not commercially viable) every year from now on there will be slightly less available to the world market. Since economic expansion depends on cheap energy this means economic expansion has now to all intents and purposes ended. We can look to resource (all resources by the way) scarcity and job losses from now on in, and a shrinking economy where credit will be almost impossible to come by as banks won't believe any businesses will be able to expand and increase wealth. This is happening now, but the reasons given are not understood by economists who can only see a universe of perpetual economic growth based on perpetual cheap resources.
So, once more, enjoy the very cheap fuel we have now, because we won't see it 'like again.
It seems that we are almost powerless now to reject any of the financial decisions made on our behalf by our political dictators. I feel it is as though the general public are so caught up in making ends meet that we are pained to face reality. I am the same and feel powerless as a result. Its not like we can just stop paying tax as they are incorporated into almost every aspect of the economy. The suggestion I read earlier that seems to hold the most weight is to boycott the stations in a national wide revolt for just one day. Easy really, make sure you have enough and dont fill up on the one day. The result massive revenue loss in tax being raised to highlight the impact we have as citizens. We may have no choice any more and the complexity of the circumstances are vast but we can make a point of wanting an external regulator to monitor government taxation in every aspect of the economy not just fuel.
I though the introduction of democracy over a monarchy was that we don't have to have be civilized slaves to unregulated taxation. Alas very little has changed since then and at least now we can delude ourselves more creatively now.
It seems that we are almost powerless now to reject any of the financial decisions made on our behalf by our political dictators. I feel it is as though the general public are so caught up in making ends meet that we are pained to face reality. I am the same and feel powerless as a result. Its not like we can just stop paying tax as they are incorporated into almost every aspect of the economy. The suggestion I read earlier that seems to hold the most weight is to boycott the stations in a national wide revolt for just one day. Easy really, make sure you have enough and dont fill up on the one day. The result massive revenue loss in tax being raised to highlight the impact we have as citizens. We may have no choice any more and the complexity of the circumstances are vast but we can make a point of wanting an external regulator to monitor government taxation in every aspect of the economy not just fuel.
I though the introduction of democracy over a monarchy was that we don't have to have be civilized slaves to unregulated taxation. Alas very little has changed since then and at least now we can delude ourselves more creatively now.
It seems that we are almost powerless now to reject any of the financial decisions made on our behalf by our political dictators. I feel it is as though the general public are so caught up in making ends meet that we are pained to face reality. I am the same and feel powerless as a result. Its not like we can just stop paying tax as they are incorporated into almost every aspect of the economy. The suggestion I read earlier that seems to hold the most weight is to boycott the stations in a national wide revolt for just one day. Easy really, make sure you have enough and dont fill up on the one day. The result massive revenue loss in tax being raised to highlight the impact we have as citizens. We may have no choice any more and the complexity of the circumstances are vast but we can make a point of wanting an external regulator to monitor government taxation in every aspect of the economy not just fuel.
I though the introduction of democracy over a monarchy was that we don't have to have be civilized slaves to unregulated taxation. Alas very little has changed since then and at least now we can delude ourselves more creatively now.
Change to Autogas and pay half price.
I agree tax is the government's solution to everything, but as far as fuel is concerned the matter is out of the government's hands. The market will decide how much of the world's oil we get hold of: how much we can afford in other words. Already many parts of the poor world have energy blackouts on a daily basis, and their economies are suffering accordingly. A boycott won't make one jot of difference to anything. In this country any number pf people drive around in cars far larger and thirstier than they absolutely need, so the price of fuel can't be that important to most people. In the 1960s the most popular family car was the BMC 11/1300. It was the size of a Fiesta. This did well for families who would now probably state that they couldn't survive without a huge MPV. We have become very greedy, and lazy. Again, look at all the fat people walking to their cars in Mcdonalds and service stations, still with food and drink in their hands, never able to control themselves even when going somewhere. Disgusting. Well, very soon they may have to, or do without a car altogether unless they are very well off indeed.
We have to get used to this. And if anyone thinks I am a crank, google up YouTube oil depletion, and spend the evening watching, and learning. Especially Auto Express editors by the way.
Change to Autogas and pay half price.
Having read all the comments above I have to agree with most of what has been said. My conclusion is, and it would obviously be a personal choice, to not buy any fuel for a week! Those of us that cannot do that, do it for as long as you can, make the Oil companies sweat, make the Gord sweat.
Also, I think you may find that lots of people -I am in this bracket- cannot afford to get another, more economical car. Thanks to the Gord's taxes, I can hardly afford to run the T-reg petrol 2.0 Auto Mondeo I have. It is kept in good order, but, I would rather have a more economical car, and a smaller one. A two door hatch-back would do, like the 1.4 Scirocco for example... But, it's always about money isn't it? The great Gord giveth, and the Gord taketh away. B&*tard!
A Citroen C1 would be even more economical.
I really don't want to be a killjoy, but...
1. The demand for oil is increasing, and the supplies are decreasing. Supply and demand means that prices go up. That's capitalism for you.
2. Peak oil is coming. Like it or not, prices will explode and become too expensive for all 'normal' people. Saving as much as possible of it will leave more for our children and grandchildren.
3. It might be hard to accept, but global warming is happening. If we don't wean ourselves off oil there'll be no roads to drive on. Witness Cumbria this weekend.
"Everyone agrees that climate change is the biggest challenge facing humanity." That`s the constant claim of the political elite - and it`s a lie! Everyone does NOT agree. Thousands of scientists dispute the very existence of man-made global warming, citing natural cyclical changes that saw vineyards in Roman northern England and a Swedish army march over the frozen Baltic at the height of the Little Ice Age in 1658 to Copenhagen. As an army of global warming zealots marches to Copenhagen, the truth is that their Orwellian ´consensus´ is based not on scientific agreement but on bullying, censorship and fraudulent statistics. In the words of leading climatologist Professor Lindzin: "Future generations will wonder in bemused amazement that the early twenty-first century`s developed world went into hysterical panic over a globally average temperature increase of a few tenths of a degree, and on the basis of gross exaggerations of highly uncertain computer projections contemplated a roll back of the industrial age." In fact, there will be no ´bemused amazement`, for the reason for this hysteria is clear: It is designed to provide the excuse for the political project of the globalists to replace national democracy with New World Order global governance. It has nothing to do with science and everything to do with a globalist common purpose to tax and control us, while making Billions for corporations in the Green-Industrial complex. The anti-Western intellectual cranks of the Left suffered a collective breakdown when Communism collapsed. Climate change is their new theology, a secular religious hysteria complete with Pope, Al Gore, Carbon Credit indulgences and the persecution of heretics. But the heretics will have a voice in Copenhagen, and the truth will out: Climate change is being used to impose an anti-human Utopia as deadly as anything conceived by Stalin or Mao." The short speech was met with horrified gasps and shouts of 'outrageous' from the Communists and leftists. The Speaker was Nick Griffin MEP.
anonstarter... Very well put thanks for that!
It won't be too long before electric cars are more common place that have no emmissions & use no fuel. Where will the government get it's £billions from then?
The reason fuel prices are high is that quite simply, the oil companies are restricting supply in order to force prices up. By restricting supply, they can raise prices knowing that no-one can go anywhere else to buy crude oil in bulk at a discount on the spot market.
How did they do this? For most of the summer, there have been a number of Very Large Crude Carriers (supertankers to you) moored in Scapa Flow, Orkney, full of crude oil, waiting for the price to rise. Slowly over the last couple of months, they have been feeding this oil into the UK refining system because the price HAS now risen. There's just one VLCC still there waiting for a further price rise.
So folks, yes, the oil companies ARE dictating the price, they have caused a shortage to force the price up, when the oil was sitting there in British waters all along!
In reply to ... j_harden
You are missing the point... the oil companies are entitled to make a profit, it's this greedy labour government who are taxing us to the hilt, nobody does anything about it so they continue to tax the motrorist all the more, we are paying in the region of 75p in the pound, but it's apparently not enough they still want more, so it's going up yet again.
I wish people would take their heads out of the sand and stop believing exactly what they want to believe. Why not take the time to look into the science instead of adopting the faith (because that's all it is) of "it's all a government con"?
It is incontrovertible that:
1) the earth is getting warmer - look at all the indications in nature if you don't believe the statistics; they tell a solid and undeniable story.
2) the science of greenhouse gases is based on the physics of how they behave, which is totally undeniable. Greenhouse gases are heated by the IR radiation which is emitted from the earth and any structures on it. The more greenhouse gases, the more absorbtion of heat, the more the atmosphere warms. There is a bit more to it than that (which apart from anything else explains why there is no practical limit to the warming which can result), but the basic principle is simple to understand.
3) There are continual crackpot theories which attempt to show that there are other reasons for the Earth's warming. Some of these are valid but are just part of the overall story, not an explanation in their own right (like the fact that water vapour has its part to play in the overall system), but the majority of these alternative ideas are just that - ideas - and when investigated properly just don't hold any water at all. But people perpetuate in putting them forward because they want to confuse you all - and people soak them up!
I can't believe the gullibility of people who just accept things without looking into them - all the information is readily available if you just look for it. That is what I have done over the past few years, and after a LOT of research i am convinced that the answer is exactly as the vast majority of scientists say - global warming IS happening, and we ARE the largest contributor to it. Most of the other factors are feedbacks from our activity - like water vapour, for example.
Don't just accept what I say, do your own research before you reach a conclusion. But make sure that what you read is proper science, not crackpot stuff...
I have seen deluded comments on here. The government does not care how much pain they inflict on the man in the street and their families just as long as they can top up their comfy life styles at our expense.
I have seen comments to change to Autogas - prohibitively expensive to convert to, loss of miles per litre and power so the lower price given all that equates to the same per mile as petrol plus you are restricted on where you can travel. Try taking your LPG car on Eurotunnel you will not be able to.
Electric cars - require recharging - source of electric - fossil fuels or nuclear so no win there as the cost is already rising at a ludicrous rate.
What ever we shift to the government will just move the tax burden to that source, they will never lose out.
I drive a large car that was hinted as being a gas guzzler, I routinely get 55 MPG and if I really try I have had it up to 72 MPG.
Large size of car does not mean fuel guzzler everytime, style of driving has a lot to do with it.
If anyone comes up with a way of making the government to listen I will be interested and ready to join in but short of civil war they will not care.
I saw on SKY News - Newspaper review last week, that there are about 6 or more fully laden oil tankers anchored in British waters.
The cargo of oil in each tanker, increases in value by £1 million for each day that passes. The oil tankers just lie anchored, and do nothing but gain more money.
To me this appears like sheer greed on behalf of the oil producers, and tanker owners, when Joe Public has to pay through the nose for a product that is deliberately being held back to make higher profits!
olsharezee says the oil companies can make a profit they did when it was $147 a barrel they had a taste of that and are now crying that there profits are down at $80 a barrel as for the greedy labour government what would the price be under a tory one with there fuel escalator when it was first added prices rose 3 pence alitre and tax on fuel was 72.8% this tax forced us up from one of the lowest in europe to one of the most expensive
I agree and disagree with comments above. I do not believe mans activity has had a major affect on "Global Warming" I have done the science, read the relative papers on Sun output , water density , methane ect ect. The trouble with the Global Warming CO2 argument is for the last 2 years overall global temperatures have actually cooled!! If you read , it just so happens Sunspot activity is also at it's Solar minimum. Then of course you have the literally billlions upon billions of tons of CO2 the worlds Volcanoes spew out in unpredictable amounts. Oh , sorry I forgot the fact that there have been many many warming and cooling episodes in earth's history well before we came on the seen. What we emit is just a pin prick compared to the whole eco system. It has a massive ability to absorb and release gases in balance. Nothing we do will make any difference. What we do need to do is cope with it best we can and yes be responsible. As for oil reserves. Who told you reserves are going down. If you look at total global oil reserves and finds , you will see it is high than ever. Also the estimate of what hasn't been investigated yet is more than the total found and used to date!! It is all a big bluff to get as much out of every Barrel as possible no matter whether your the oil company , an oil broker, or government screwing us for tax. I agree with comment that whatever we "have to have" it will be taxed. 50 litres of water to fill up that will be £55 please. We are being conned people and we should all wake up to the political manipulation involved. New World Order, Illuminati . Bilderberg Group. They've already decided. Rockerfella's hold your head in shame.
Having read all the comments above, and comparing them with my own views, I feel one step nearer to giving up. I do however, wish to thank anonstarter, who correctly points out the fact that the the "Global Warming" issue is being used as a vehicle for certain undesirables to take over the world. Now don't misunderstand me, I am a friendly, considerate, law abiding, socially responsible 51 year old father of two, trying to get peacefully through the life I've been blessed with, and it enrages me when people like N. Collingridge make out-and-out statements like "Global warming IS happening and we ARE the largest contributor to it".
Nearly every day, I hear people come out with statements like "Ooh, we didn't have summers like this when I was small"; and they're right, but so where all of their ancestors when they made the same statements going back hundreds or even thousands of years. The environment is constantly changing, and it doesn't change over hundreds of years, but tens. The Earth wobbles on it's axis causing continuous melting and re-forming of the ice caps, and that's just one of the causes of millions of effects. When the last ice age disappeared, the Ford Pilot V8 hadn't even been thought of, and contrary to what the gullible green men say, the Lamborghini Miura didn't kill the Dinosaurs. On BBC's Horizon some time ago, a scientist stated that "although we do contribute to global warming, it's going to carry on like it always has, regardless of what we do about it". He also stated that he is perpetually asked by the media for footage of ice breaking off the ice caps. The reason they want such evidence is because telling people they're killing the Earth is big business. The sad thing is that the majority of people will believe it, as evidence is a momentary thing, very powerful when there is so much controversy about. What the masses don't seem to intellctualise is that ice breaking off the caps is a natural ongoing process, and has been since our planet stabilised after the big bang.
Having said all that, I do think we should be tidying up the planet, the ultimate method being voluntary extinction of the human race. If we were to stop reproducing, the population would plummet by the day, there would be plenty of cheap fuel and everything to go round, the people left would be able to live good lives and smoke round in V8s. After that, the planet can do as it wants. See below
http://www.vhemt.org/
Read more: http://www.autoexpress.co.uk/n...
.
First: CO2 is the term governments use to justify energy taxation.
Second: Oil production HAS peaked. Sorry folks, but It's true. Don't be misled into thinking that because oil tankers are sitting full of oil we haven't reached peak production; the two are not related. What we have in fact is a demand fall off resulting in a very temporary spare capacity. The price may even go down in the short term, possibly even into the $60s. But think; this is astronomically higher than the $10-20 it was only a comparatively short time ago, and what had been the norm for decades. All the best estimates, by oil scientists who in fact know what they are talking about, suggest that we have, at best two years left at the present price, if we are lucky. After that the gap between production and demand will continue, erratically at times, granted, to widen, and the price will rise accordingly. Another economic regression will take effect at c $80 a barrel, which means that economic production - growth - will stall again and more people will be thrown out of work, and prices will again rise. Oil could easily be at $100+ after two years. This series of dead cat bounces will continue indefinitely. And we also have a serious gas supply situation. And don't think coal will help. We are a net importer and even at present rates of consumption our own reserves have only about 20 years left.
None of what I've written is the raving of a crank. Nobody wants to face what's coming, but we must. So now might be a good place to star and stop hoping - for hope is what it is - that oil prices will stay the same for ever and 'they' will keep finding more and more to replace the denuding fields and indeed add to the increasing world demand.
It's over.
Figures above gone...? Sorry.
Briefly, I say that oil may go down to the $60s, and that it had been at $10-20 for ages, and that the economy will regress again at $80+.
Oil may well hit $150 in two years, unless the economy really tanks and demand is destroyed, in which case we are also bu@@ered.
One more. World oil production has peaked. We will never have again as much as we have now. Think about it.
Oh well. I give up...
The rate that oil/petrol/diesel is TAXED is the PROBLEM!
The most fantastic thing about being naive is NOT knowing that you are.
That's exactly what the EU bureaucrats have planned, hoped for and need.
http://www.telegraph.co.uk/new...
"Australia is leading the revolt against Al Gore’s great big AGW conspiracy – just as the Aussie geologist and AGW sceptic Professor Ian Plimer predicted it would..."
http://blogs.telegraph.co.uk/n...
Why does this government rip us off, Answer : Because it can.
Because we put up with it !!
They have got you used to the odd reduction of a few pence, then after a short period its put back up 3 or 4p more than it was, We are being ripped off.
Not only has this car hating government of idealistic crackpots ruined the economy, they have also devalued the pound in your pocket, so that your fuel has got to cost more, and they will make sure that it keeps costing more,
The next new law from the new style communists in Brussels will probably swap pounds for euros and that will be another price rise, just as it was when we went decimal, as your pound will not buy 3 or 4 euros as it once did before Gordon Brown became chancelor.
Do not forget the ultimate aim of the Labour higharchy is to get us out of cars and onto public transport, and only the better off will afford personal transport.
The british gov have to pay for 2 illigal murder campaigns (wars) somehow, the obvious target is going to be the motorist EVERY TIME. I must have missed when GB were attacked by Iraq & Afghanistan, but we definitely are ALL paying for it. Motorists ARE paying for the latest british folly. I think the fuel protests of a few years ago need to make a swift & sustained return!!!
Colin S is way off the mark. This is just what government wants us to think. Panic is a great way of raising price and tax, Government heaven. In two years time we will still all be paying 76% Duty. By the way as regards coal. When Thatcher forced all the pit closures and ruined communities that had been there for decades it was not because the coal seams had run out. Scargill rightly said she was going to shut down most of the pits and he was right on every point he made. He even proposed clean coal scrubbing technology that was available then!! Now we import it at ridiculous cost by countries that hold us to ransom. We actually have approx 400 years worth of coal in OUR ground that can be mined easily and cheaply and used cleanly. Don't I remember that it was Thatcher a chemist by profession saying the Black crap coming out of Diesel engines was cleaner than petrol emissions so we all should use Diesel? People did just that and Diesel was taxed to the hilt and the truth that anyone with any ounce of intelligence could see , it turned out that Diesel particulates were far more dangerous than Petrol. Don't believe any of it. Global warming, oil running out , death and destruction to all. It is utter bunkum to suit hidden political agenda's and screw yet more taxes out of the poor average working guy. Look at it like this. People are a lot less likely to demonstrate about rising taxes if they think they are somehow to blame. When was the last time you heard any politician tell you anything like it really is. If they can fiddle expenses that we pay for they will not think twice at lying to us over Global warming and oil shortage. The Iraq Enquiry is showing us just how much we are deceived on every level. If they said the Grass was Green I would go and look for myself to make sure. Shame on them.
I can't see it anywhere above but has anyone thought about the cars our government drive?
They don't exactly set a good example do they?
I do feel a bit sorry for Flash Gordon due to Tony the Merciless leaving him with everything in such a state. (Waits for the public stoning)
I do agree with some of the comments above though, the government don't give a stuff about us, the public, they are only interested in lining their own pockets (Expenses scandal) and if Tony the Merciless had not 'slept' with 'Bush the Mush' the UK's finances would be in a slightly better state than they are now.
All the fuel that has been wasted and all those emissions put into the atmosphere during the 'War' over the last 8 or so years? A war that appears to be totally unjustifiable?
It's no wonder we have no money, it's no wonder we are hated as a country, it's no wonder the tankers anchor off the coast to wait for the price to increase, it's no wonder our businesses are failing and redundancies are increasing.
Who in their right mind would want to do business with the UK when the Labour government are as corrupt as they are? (And all other parties it seems).
Maybe we should scrap a UK government all together and properly become part of Europe and see if things improve? At least that way we might stand a chance?
Anyway rant over, PS I won't be voting for anyone again at the next election, i have better things to do than waste time going to the polling station.
Regards.