The answer *should* be no

Mr Cameron is anxious to make sure people can also face criminal charges if they are found to have rigged the oil price and driven up prices for consumers. However, the Government is still seeking to establish whether any new laws could be applied retrospectively.

Whether it will be or not is another matter.

Changing the law to criminalise something that was done when the law said it was not a crime is …well, fill in your own epithets here. It\’s certainly not conducive to those freedom and liberty things, is it?

17 thoughts on “The answer *should* be no”

  1. The Office of Fair trading found no evidence of wrong doing. So why the witch hunt?

    The news stories are still talking about motorists perhaps being charged thousands of pounds too much. This is impossible. It would need the manipulation to be sustained at a very high level.

    From Bloomberg.

    …….Kathleen Tanzy, a Houston-based spokeswoman for Platts, yesterday said it didn

  2. So Much For Subtlety

    The Roman Republic did not collapse because of foreign invasion or even civil war. It collapsed because people no longer believed it. They could not make it work compared to the attractions of the Empire.

    Liberal (in the Classical sense) Britain is dead. The people who rule us, the people who write about the people who rule us, the people who teach the people who rule us, no longer even understand what the point was.

    The attraction of an efficient administration is simply too much. Even Cameron cannot see why this is a bad idea. We defeated totalitarianism, but it will win in the end. It almost has.

  3. I thought the biggest price-fixer in energy, not just petrol, was the Chancellor of the Exchequer.

  4. The Office of Fair trading found no evidence of wrong doing. So why the witch hunt?

    The news stories are still talking about motorists perhaps being charged thousands of pounds too much. This is impossible. It would need the manipulation to be sustained at a very high level.

    From Bloomberg.

    …….Kathleen Tanzy, a Houston-based spokeswoman for Platts, yesterday said it didnt have anything to add beyond earlier confirmation that the EC has undertaken a review at its office in London in relation to its price assessment process. In a submission to a 2012 report by the International Organization of Security Commissions on oil pricing regulation, the company said external controls over its activities would be an unacceptable intrusion on its rights as a publisher.

    Herein lies the crux of the matter. The EU hates the free market and wants to control everything. It will use the minor imperfections in the current set up as an excuse to replace it with some bureaucratic monstrosity.

  5. Remember this an EU wide thing, not a UK only investigation. The UK retail market is very, very compettive because we have supermarkets buying fuels in Rotterdam and taking a loss leader on this in order to get bums on seats on the supermarket proper. MArgins in the UK are wafer thin. My view that UK is unlikely to show evidence of superprofits.

    Elsewhere in the EU the market is much less competitive – with often only a choice of one or two stations in many locales. They may well show abuse.

  6. TheJollyGreenMan

    If I post that Cameron is a dumb cunt can I be prosecuted under the Official Secrets act for giving away official government secrets?

    Oh, the little man is making so much noise.

    Does he want to impress Obama who tried, and is still trying, his best to bankrupt British Petroleum?

  7. Is this real? Cameron punishes people retroactively in another jurisdiction for doing something harmless which he doesn’t understand.
    He’s gone from incompetent to malignant.

  8. Dave is a PR man surrounded by PR people. What’s matters to them is the court of public opinion and unfortunately the public has been led to believe that all our problems can be blamed on big business and bankers.

    This has been a nice bit of deflective work and politicians need to continue the narrative in case the court of public opinion starts looking at the evidence and begins to realise that politicians are up there as part, if not most, of the root cause of the problems.

  9. SimonF,

    The problem is that a large amount of the public has seen so many substance-less pronouncements, so much PR spin (and he makes Blair look good) that no-one believes him.

    It’s why a lot of eyes are turning to Farage. Europe is only part of the reason for UKIPs success, it’s also a general sense of who you can trust.

  10. A small technical question;
    Is there actually any evidence punters at the garage have paid higher fuel prices? Or is this another Libor?
    The ‘point’ of rigging any market is to appropriate more of the gains from the flow through the market, to the rigger. It shifts the gain from one player to another. That doesn’t necessarily imply the end punter is the one loses out. Can just as easily benefit. It depends on the exact distortion of the market.

  11. Making something illegal after the event then dealing with people who have done this newly created illegal thing has happened before.
    Most famous example being the Nuremburg trials after WW2.

  12. Serf // May 16, 2013 at 8:25 am

    The news stories are still talking about motorists perhaps being charged thousands of pounds too much.

    This claim fails at first glance – what motorist is paying thousandS of pounds for fuel – so many thousands that you can hide more thousands of scamming in the bill.

  13. What about opec? Isn’t it the biggest rigger of the market? Are they being investigated?

    I think we should be told.

  14. But OPEC is comprised of governments and we all know that government is only benevolent and good in its price fixing, c.f interest rates, milk quotas, etc.

Leave a Reply

Your email address will not be published. Required fields are marked *