Downing Street Says » Oil/Food Prices

Asked if the Prime Minister was concerned about the Bank of England’s inflation predictions this morning, the Prime Minister’s Spokesman (PMS) replied that, as the Prime Minister and the Chancellor had been saying, increases in prices was a phenomenon that was happening around the world; oil price had gone up to $125 a barrel in recent days and we were also seeing global increases in food prices. No country, including the UK, could insulate itself from what was happening in the global economy. The Prime Minister understood the difficulties that families who were affected by the rising prices faced, and that was why he was working with his international colleagues to take action to put pressure on oil producers to increase the oil supply and see what could be done in relation to food prices.

Asked if the Prime Minister had a plan regarding oil prices, the PMS said that as and when we had more to say on this we would let people know. The key point was that there needed to be greater dialogue between oil producers and oil consumers and we also needed to work with oil producing countries to see what more they could do to increase supply and get the oil price down. The PMS added that he anticipated that this subject would come up at the G8 meeting in July.

3 Comments »

Somebody tell the prime minister that developing countries such as China and India cap their prices so higher oil costs dont get passed on the consumers. India has not had a petrol price increase for over a year. Increases in prices of oil are subsidised by their governments. Why the hell should we pay such high prices when two of the most heaviest world oil consumers get their fuel for peanuts. They wont trim demand as there is no need to petrol and deisel increases are not passed onto the consumer so they are not effected. They continue to buy and consume as always with no hit on the wallet.

Once again we are being peanalised so poorer nations can get everything cheaper. I suppose the high prices in the UK are one way of cutting immigration. Another false promise of yours.

Worst government ever
Comment by Paul — 15 May 2008 on 11:33 am | Link
Paul you peanut-head, in India and China, the price caps on oil mean the government has to pay the difference. Since the government doesn’t own anything that money come from taxes which means everyone pays, including non-drivers to subsidise drivers. Hardly a smart solution to high prices to offest them on to higher taxes.
Comment by Norman Scott — 15 May 2008 on 12:46 pm | Link
Hi Norman

Thanks for the comments but as I mentioned in my post I did mention that the government pays the differences. What do you think Subsidised means?

Please dont call me a peanut-head.

If the government had saved for a rainy day and not just spent spent spent then there would be plenty of cash to be used when problems arise.

Don’t make excuses for this lot. Its not my fault they have squandered everything they have raked in and have nothing left.

Remember non-driver still see the effect of higher fuel prices. They still travel and travl prices are on the rise because of fuel prices.

You think 15% inflation was high durining the 80’s you aint seen nothing yet.
Comment by Paul — 22 May 2008 on 9:12 am | Link

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» Wednesday, May 14, 2008

Oil/Food Prices

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