I understand the wholesale market, but if Brent Crude is X price & say BP extract the crude but their operating costs are still much the same hence their profits move with the wholesale price being paid. Somehow that must be corrected back to a sensible profit margin. However if no one can afford the price of the goods I hope that will be self levelling. Trouble is the energy firms have the population of the world by the short & ***** . Governments must react to prevent anarchy. (People starving/freezing)
I wonder why people always point the finger at companies rather than governments and countries. We would not be in the current position if our government had not taken it on themselves to apply sanctions to the Russians. The latter are fighting back by effectively applying sanctions to the rest of the world , and the irony is that they are not suffering from our energy boycott because the prices have shot up. So in effect we have shot ourselves in the foot because bleeding heart liberals have decided we must support a country than many if not most of us didnt know where it was before we got involved.
Mind you its not just the Russians is it. What about getting more oil from Iran or Syria? Sanctions? There is a price to be paid for self righteousness.
Anyway IcePack, you are happy to say the government must react but you dont say how. What do you want them to do?
