Jump to content
House Price Crash Forum
Sign in to follow this  
interestrateripoff

Aa Asks European Union To Investigate Oil Market Manipulation

Recommended Posts

http://www.guardian.co.uk/business/2011/apr/28/aa-queries-oil-market-manipulation

The AA is to ask the European competition commissioner to investigate whether oil and petrol markets are being manipulated as Shell reports first quarter profits up 40%, making its global profits stand at nearly £2m per hour.

The motorists' organisation wants similar groups on the continent to pressurise the European Union to take action because, while wholesale petrol prices are at record levels, crude oil is still $20 lower than in 2008. "We do not have a beef with Shell per se," said an AA spokesman, "but we do have a beef with the oil industry in general and the lack of transparency in the sector."

Perhaps the EU will discover that having political unrest in countries that produce oil isn't good for the oil price.

The mass printing of dollars and monetizing the US deficit isn't good for the oil price...

etc....

Although I'm sure that if any blame is found it will be down to some evil speculator stroking a cat somewhere.

Share this post


Link to post
Share on other sites

http://www.guardian....et-manipulation

Perhaps the EU will discover that having political unrest in countries that produce oil isn't good for the oil price.

The mass printing of dollars and monetizing the US deficit isn't good for the oil price...

etc....

Although I'm sure that if any blame is found it will be down to some evil speculator stroking a cat somewhere.

I think AA is targeting refiners who must be enjoying huge margins.

Share this post


Link to post
Share on other sites

I think AA is targeting refiners who must be enjoying huge margins.

Compared to the tax man they earn sod all, and actually have to do some work for it. Tax man takes what - 200% tax on petrol?

Share this post


Link to post
Share on other sites

The AA must be hurting - maybe more people running out of fuel after trickling in a little fuel at a time plus more breakdowns from cars that aren't being serviced / repaired.

Share this post


Link to post
Share on other sites

The AA must be hurting - maybe more people running out of fuel after trickling in a little fuel at a time plus more breakdowns from cars that aren't being serviced / repaired.

My uncle worked for the AA for 25 years but was made redundant during the GFC.

People are cutting everywhere they can.

Share this post


Link to post
Share on other sites
The motorists' organisation wants similar groups on the continent to pressurise the European Union to take action because, while wholesale petrol prices are at record levels, crude oil is still $20 lower than in 2008.

Duh!

Share this post


Link to post
Share on other sites

The AA must be hurting - maybe more people running out of fuel after trickling in a little fuel at a time plus more breakdowns from cars that aren't being serviced / repaired.

The AA is hurting because it's little more than a household name and a massive pile of debt. In 10 years they've been flipped three time by private equity spivs. All the assets have been sold, they don't even own the vans!

The current owners are interested in nothing but selling the whole liability but to do this they need to show yoy profit growth, so they're asking patrols to sell all their other products (insurance, driving lessons) at the breakdown!

Share this post


Link to post
Share on other sites

The main business of the AA, is not fixing cars, but selling insurance! :angry:

Share this post


Link to post
Share on other sites

The AA is hurting because it's little more than a household name and a massive pile of debt. In 10 years they've been flipped three time by private equity spivs. All the assets have been sold, they don't even own the vans!

The current owners are interested in nothing but selling the whole liability but to do this they need to show yoy profit growth, so they're asking patrols to sell all their other products (insurance, driving lessons) at the breakdown!

But private equity creates growth and wealth.

Has any private equity buyout created a business which doesn't acquire a huge amount of unserviceable debt, which can only be sold at a profit if another PE buys with an even larger amount of debt?

Isn't modern capitalism a wonderful thing.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.