POLITICS: Panic As UK Edges Toward Fuel Crisis In Wake Of Katrina

Nova Scotia, Canada

Our taxes run just over 50% of the pump price.

By the way, whatever happened to all your North Sea oil? I know, I know, it's the taxes.

The US runs around 20 to 30% of pump price.

And we pay more for the base price of petrol before any taxes than the U.S. This is irritating, too, because a big chunk of gas/oil/diesel sold at the U.S. pumps comes from Canada.

unfortunatly Brent Crude is only any good for plastics.

It seems increasingly apparent that a small reduction in taxes and a higher OPEC out put may solve this price problem. But no government is going to do that are they?

Sheesh, la2,

It's a real fix. Saudi Arabia is pumping more water into their wells than oil being pumped out. No link. I've read a fair bit of this so called 'Peak Oil' and imo, I think the Saudi's are just about tapped out.

Venezuela is going to have to step up to the plate. The African producers need to get stabilized. There is Russia. Iran's tied up with the French, Japan and China ... and others. We have Alberta's mature fields, lots of greasy sands and expensive offshore natural gas but I think the U.S. gets all of that. And Iraq is a complete balls up!

OPEC and the rest of the world's oil producers have absolutely no interest in lowering prices ... no one who is raking in the lucre, not the shipping companies, not the agents and brokers, not the banks, equipment manufacturers, refiners, no one wants a lower price who is getting rich of the higher.

And the 'government' least of all. In the last year the price of crude has doubled at least. Where does that money go? I sure don't know, and, really the oil market is a pretty complicated affair.

Unfortunately, I don't think things are going to improve ... if it does it will be the old "1 step forward/2 steps back".

Hope you aren't a lorry driver, la2.

thankfully mate, i aint a lorry driver, lol.

the way forward is hard to see at the moment, but i agree that the supply issue is more serious than people think, too many take oil for granted.

The problem with people trying to profiteer by maintaining record high oil prices is that they are jeapordizing the World economy. Their cash will be worthless if the economies crash, which is highly likely if we start getting around the $150/barrel prices.

No doubt they've worked out the highest oil prices that the World can economically limp along with and thats where it will go.

True, true, subz,

These parasites, the oil industry and its infrastructure, don't want to kill their host ...

The system cannot stay as it is ... it is just impossible. The pressure on the oil will become so great ... within a generation imo ... that only the biggest customers, the biggest single users of hydrocarbons, the world's military organizations will be the only ones with access to the supply.

Unless, unless we develop, and in a big hurry, viable, affordable energy alternatives.

In the meantime prices are likely to stay as high as possible and still maintain the gougers in their obscene wealth.

And our 75% tax in the UK generates what exactly?

Mmmm, What exactly, for decades to? Plus all the other hidden taxes. Certainly not a better transport system

I hope the prices keep going up, gets cars of the road and lowers pollution. Just reduce the cost for business transport and people with disabilities.

There are alternatives like walking, running, cycling, mopeds/motorbikes, and there,s always the bus or train.

People just have to adapt.

and there,s always the bus or train.

Actually scrap that, there’s not ALWAYS a bus or train.