» Tuesday, May 20, 2008

Oil/food prices

Asked what was said about the economy during Cabinet, the PMS said that the discussion had been about what all Government departments could do to help deal with the economic situation in relation to issues such as higher oil and food prices. It was more about those subjects rather than a macro-economic discussion.

Asked what Government departments could do about oil prices, the PMS replied that this had been something the Prime Minister talked about yesterday, particularly in the Q&A session at the Google event; we could continue to keep up the pressure on OPEC to try to get oil prices down in the short-term, but in the long-term we needed to look at what more we could do to make the economy less dependant on fossil foils. There were short-term issues that needed to be addressed but if we believed that higher oil prices were here to stay then there was more we needed to do in order to help ensure the economy adapted and responded to that.

original source.

Briefing took place at 11:00 | Search for related news

1 Comment »

  1. Does anybody,anywhere,know how big a part in the massive price increase of oil,for instance,is played by stock market manipulation?

    Comment by b campbell — 27 May 2008 on 5:37 pm | Link

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