EU investigation into oil companies
13 September 2013, 09:20 AM
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EU investigation into oil companies
Does anyone know if anything has been released about what is happening with this?
Petrol Price Fixing Dossier Handed to EU Investigators
Just asking as petrol is £1.40 a litre again here!
Petrol Price Fixing Dossier Handed to EU Investigators
Just asking as petrol is £1.40 a litre again here!
13 September 2013, 11:59 AM
#2
I could write the report for you:
My money would be on: "No price fixing, no profiteering, no profit made on petrol or oil, and the huge profits they make come directly from the fairies.
Oh, and please can me and my mate have directorships when no longer gainfully employed....?"
There, how's that?
Call me a cynic, but we've had just that in the UK SOOOOOO many times.... Why would EC be any different?
Although they do seem to have reigned in the Mobile Phone companies...mine now only charges me 7p a minute to receive calls abroad.
My money would be on: "No price fixing, no profiteering, no profit made on petrol or oil, and the huge profits they make come directly from the fairies.
Oh, and please can me and my mate have directorships when no longer gainfully employed....?"
There, how's that?
Call me a cynic, but we've had just that in the UK SOOOOOO many times.... Why would EC be any different?
Although they do seem to have reigned in the Mobile Phone companies...mine now only charges me 7p a minute to receive calls abroad.
13 September 2013, 12:45 PM
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For people unhappy that oil companies make large profits, consider this:
Oil and gas reservoirs are measured in millions or billions of barrels or cubic feet. Oil and gas are commodities. Oil and gas are sold in absolutely enormous quantities.
Now, given that in mind do you not think it is inevitable that a well run company that sells a commodity in millions of units will make large profits? When it comes to percentage of turnover that is profit you will find oil companies are very low compared to the likes of supermarkets and utility companies. Supermarkets aim to make 20-30% on each item sold (as an average), the catering industry looks to make 30% and oil companies? Well they make often much less than 5%. The difference is they sell in bigger volumes. Joe publics issue should really be the tax on the oil or gas that they pay but people see oil companies making big money and think 'oh they are making lots of money, we must hate them'. Is the way oil companies work always righteous and in 'the spirit of the law' surrounding tax etc? No. Are they worse than any other company you care to name? Not at all. So instead of getting excited about BP or Shells profit and loss account why not consider that the company who made the trousers you are wearing or the company from which you purchased your dinner will have sold them for a much bigger profit than the company who supplied you with your petrol.
Oil and gas reservoirs are measured in millions or billions of barrels or cubic feet. Oil and gas are commodities. Oil and gas are sold in absolutely enormous quantities.
Now, given that in mind do you not think it is inevitable that a well run company that sells a commodity in millions of units will make large profits? When it comes to percentage of turnover that is profit you will find oil companies are very low compared to the likes of supermarkets and utility companies. Supermarkets aim to make 20-30% on each item sold (as an average), the catering industry looks to make 30% and oil companies? Well they make often much less than 5%. The difference is they sell in bigger volumes. Joe publics issue should really be the tax on the oil or gas that they pay but people see oil companies making big money and think 'oh they are making lots of money, we must hate them'. Is the way oil companies work always righteous and in 'the spirit of the law' surrounding tax etc? No. Are they worse than any other company you care to name? Not at all. So instead of getting excited about BP or Shells profit and loss account why not consider that the company who made the trousers you are wearing or the company from which you purchased your dinner will have sold them for a much bigger profit than the company who supplied you with your petrol.
13 September 2013, 12:50 PM
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For people unhappy that oil companies make large profits, consider this:
Oil and gas reservoirs are measured in millions or billions of barrels or cubic feet. Oil and gas are commodities. Oil and gas are sold in absolutely enormous quantities.
Now, given that in mind do you not think it is inevitable that a well run company that sells a commodity in millions of units will make large profits? When it comes to percentage of turnover that is profit you will find oil companies are very low compared to the likes of supermarkets and utility companies. Supermarkets aim to make 20-30% on each item sold (as an average), the catering industry looks to make 30% and oil companies? Well they make often much less than 5%. The difference is they sell in bigger volumes. Joe publics issue should really be the tax on the oil or gas that they pay but people see oil companies making big money and think 'oh they are making lots of money, we must hate them'. Is the way oil companies work always righteous and in 'the spirit of the law' surrounding tax etc? No. Are they worse than any other company you care to name? Not at all. So instead of getting excited about BP or Shells profit and loss account why not consider that the company who made the trousers you are wearing or the company from which you purchased your dinner will have sold them for a much bigger profit than the company who supplied you with your petrol.
Oil and gas reservoirs are measured in millions or billions of barrels or cubic feet. Oil and gas are commodities. Oil and gas are sold in absolutely enormous quantities.
Now, given that in mind do you not think it is inevitable that a well run company that sells a commodity in millions of units will make large profits? When it comes to percentage of turnover that is profit you will find oil companies are very low compared to the likes of supermarkets and utility companies. Supermarkets aim to make 20-30% on each item sold (as an average), the catering industry looks to make 30% and oil companies? Well they make often much less than 5%. The difference is they sell in bigger volumes. Joe publics issue should really be the tax on the oil or gas that they pay but people see oil companies making big money and think 'oh they are making lots of money, we must hate them'. Is the way oil companies work always righteous and in 'the spirit of the law' surrounding tax etc? No. Are they worse than any other company you care to name? Not at all. So instead of getting excited about BP or Shells profit and loss account why not consider that the company who made the trousers you are wearing or the company from which you purchased your dinner will have sold them for a much bigger profit than the company who supplied you with your petrol.
So stick that in your pipe
dl
13 September 2013, 12:57 PM
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For people unhappy that oil companies make large profits, consider this:
Oil and gas reservoirs are measured in millions or billions of barrels or cubic feet. Oil and gas are commodities. Oil and gas are sold in absolutely enormous quantities.
Now, given that in mind do you not think it is inevitable that a well run company that sells a commodity in millions of units will make large profits? When it comes to percentage of turnover that is profit you will find oil companies are very low compared to the likes of supermarkets and utility companies. Supermarkets aim to make 20-30% on each item sold (as an average), the catering industry looks to make 30% and oil companies? Well they make often much less than 5%. The difference is they sell in bigger volumes. Joe publics issue should really be the tax on the oil or gas that they pay but people see oil companies making big money and think 'oh they are making lots of money, we must hate them'. Is the way oil companies work always righteous and in 'the spirit of the law' surrounding tax etc? No. Are they worse than any other company you care to name? Not at all. So instead of getting excited about BP or Shells profit and loss account why not consider that the company who made the trousers you are wearing or the company from which you purchased your dinner will have sold them for a much bigger profit than the company who supplied you with your petrol.
Oil and gas reservoirs are measured in millions or billions of barrels or cubic feet. Oil and gas are commodities. Oil and gas are sold in absolutely enormous quantities.
Now, given that in mind do you not think it is inevitable that a well run company that sells a commodity in millions of units will make large profits? When it comes to percentage of turnover that is profit you will find oil companies are very low compared to the likes of supermarkets and utility companies. Supermarkets aim to make 20-30% on each item sold (as an average), the catering industry looks to make 30% and oil companies? Well they make often much less than 5%. The difference is they sell in bigger volumes. Joe publics issue should really be the tax on the oil or gas that they pay but people see oil companies making big money and think 'oh they are making lots of money, we must hate them'. Is the way oil companies work always righteous and in 'the spirit of the law' surrounding tax etc? No. Are they worse than any other company you care to name? Not at all. So instead of getting excited about BP or Shells profit and loss account why not consider that the company who made the trousers you are wearing or the company from which you purchased your dinner will have sold them for a much bigger profit than the company who supplied you with your petrol.
Now can anyone answer the question I raised?
13 September 2013, 01:00 PM
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13 September 2013, 01:02 PM
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For people unhappy that oil companies make large profits, consider this:
Oil and gas reservoirs are measured in millions or billions of barrels or cubic feet. Oil and gas are commodities. Oil and gas are sold in absolutely enormous quantities.
Now, given that in mind do you not think it is inevitable that a well run company that sells a commodity in millions of units will make large profits? When it comes to percentage of turnover that is profit you will find oil companies are very low compared to the likes of supermarkets and utility companies. Supermarkets aim to make 20-30% on each item sold (as an average), the catering industry looks to make 30% and oil companies? Well they make often much less than 5%. The difference is they sell in bigger volumes. Joe publics issue should really be the tax on the oil or gas that they pay but people see oil companies making big money and think 'oh they are making lots of money, we must hate them'. Is the way oil companies work always righteous and in 'the spirit of the law' surrounding tax etc? No. Are they worse than any other company you care to name? Not at all. So instead of getting excited about BP or Shells profit and loss account why not consider that the company who made the trousers you are wearing or the company from which you purchased your dinner will have sold them for a much bigger profit than the company who supplied you with your petrol.
Oil and gas reservoirs are measured in millions or billions of barrels or cubic feet. Oil and gas are commodities. Oil and gas are sold in absolutely enormous quantities.
Now, given that in mind do you not think it is inevitable that a well run company that sells a commodity in millions of units will make large profits? When it comes to percentage of turnover that is profit you will find oil companies are very low compared to the likes of supermarkets and utility companies. Supermarkets aim to make 20-30% on each item sold (as an average), the catering industry looks to make 30% and oil companies? Well they make often much less than 5%. The difference is they sell in bigger volumes. Joe publics issue should really be the tax on the oil or gas that they pay but people see oil companies making big money and think 'oh they are making lots of money, we must hate them'. Is the way oil companies work always righteous and in 'the spirit of the law' surrounding tax etc? No. Are they worse than any other company you care to name? Not at all. So instead of getting excited about BP or Shells profit and loss account why not consider that the company who made the trousers you are wearing or the company from which you purchased your dinner will have sold them for a much bigger profit than the company who supplied you with your petrol.
It's the lot who tax us to death on petrol that need looking at not the oil companies, on every £1 quid of fuel how much of that goes into the Governments pocket?
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13 September 2013, 01:10 PM
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13 September 2013, 01:22 PM
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For people unhappy that oil companies make large profits, consider this:
Oil and gas reservoirs are measured in millions or billions of barrels or cubic feet. Oil and gas are commodities. Oil and gas are sold in absolutely enormous quantities.
Now, given that in mind do you not think it is inevitable that a well run company that sells a commodity in millions of units will make large profits? When it comes to percentage of turnover that is profit you will find oil companies are very low compared to the likes of supermarkets and utility companies. Supermarkets aim to make 20-30% on each item sold (as an average), the catering industry looks to make 30% and oil companies? Well they make often much less than 5%. The difference is they sell in bigger volumes. Joe publics issue should really be the tax on the oil or gas that they pay but people see oil companies making big money and think 'oh they are making lots of money, we must hate them'. Is the way oil companies work always righteous and in 'the spirit of the law' surrounding tax etc? No. Are they worse than any other company you care to name? Not at all. So instead of getting excited about BP or Shells profit and loss account why not consider that the company who made the trousers you are wearing or the company from which you purchased your dinner will have sold them for a much bigger profit than the company who supplied you with your petrol.
Oil and gas reservoirs are measured in millions or billions of barrels or cubic feet. Oil and gas are commodities. Oil and gas are sold in absolutely enormous quantities.
Now, given that in mind do you not think it is inevitable that a well run company that sells a commodity in millions of units will make large profits? When it comes to percentage of turnover that is profit you will find oil companies are very low compared to the likes of supermarkets and utility companies. Supermarkets aim to make 20-30% on each item sold (as an average), the catering industry looks to make 30% and oil companies? Well they make often much less than 5%. The difference is they sell in bigger volumes. Joe publics issue should really be the tax on the oil or gas that they pay but people see oil companies making big money and think 'oh they are making lots of money, we must hate them'. Is the way oil companies work always righteous and in 'the spirit of the law' surrounding tax etc? No. Are they worse than any other company you care to name? Not at all. So instead of getting excited about BP or Shells profit and loss account why not consider that the company who made the trousers you are wearing or the company from which you purchased your dinner will have sold them for a much bigger profit than the company who supplied you with your petrol.
Nor does the price of THOSE commodities effect almost everything else sold in the UK.
13 September 2013, 01:26 PM
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13 September 2013, 01:42 PM
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FFS can we not turn this into a tax argument. Duty on fuel is not a percentage, its a fixed rate and hasn't changed for a good while now. We all know the govermnet are screwing us, but they have been for decades now, nothing has changed on that recently.
This thread isn't some thinly veiled rant about prices in general. I just genuinely wondered if anyone knew anything further about the investigation? It was the £1.40 I paid last night that made me think about it. That's all!
This thread isn't some thinly veiled rant about prices in general. I just genuinely wondered if anyone knew anything further about the investigation? It was the £1.40 I paid last night that made me think about it. That's all!
13 September 2013, 02:48 PM
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FFS can we not turn this into a tax argument. Duty on fuel is not a percentage, its a fixed rate and hasn't changed for a good while now. We all know the govermnet are screwing us, but they have been for decades now, nothing has changed on that recently.
This thread isn't some thinly veiled rant about prices in general. I just genuinely wondered if anyone knew anything further about the investigation? It was the £1.40 I paid last night that made me think about it. That's all!
This thread isn't some thinly veiled rant about prices in general. I just genuinely wondered if anyone knew anything further about the investigation? It was the £1.40 I paid last night that made me think about it. That's all!
13 September 2013, 03:35 PM
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The last increase in fuel duty was to 58p for unleaded and occurred on 23/03/2011 which in the context of the current fluctuation in price and an ongoing investiagtion into price fixing constitutes "a good while"!
Thank you, however, for a contribution from the Daily Telegraph (no doubt one of your favourite newspapapers along with the Daily Mail
) and it's a pity it wasn't remotely on topic, but there you go!
Thank you, however, for a contribution from the Daily Telegraph (no doubt one of your favourite newspapapers along with the Daily Mail
) and it's a pity it wasn't remotely on topic, but there you go!
13 September 2013, 04:15 PM
#16
FFS can we not turn this into a tax argument. Duty on fuel is not a percentage, its a fixed rate and hasn't changed for a good while now. We all know the govermnet are screwing us, but they have been for decades now, nothing has changed on that recently.
This thread isn't some thinly veiled rant about prices in general. I just genuinely wondered if anyone knew anything further about the investigation? It was the £1.40 I paid last night that made me think about it. That's all!
This thread isn't some thinly veiled rant about prices in general. I just genuinely wondered if anyone knew anything further about the investigation? It was the £1.40 I paid last night that made me think about it. That's all!
Without wishing to cause offence, it seems to me that any EU or other form of price fixing investigation just looks like so much window dressing for morons who don't understand this and conspiracy types - not saying that you are either.
I wouldn't say the government are screwing us, they are just spending our money for us, because they think we are too stupid to do it for ourselves. C'est la vie.
ps - ain't heard nothing about no investigation.
14 September 2013, 11:53 AM
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FFS can we not turn this into a tax argument. Duty on fuel is not a percentage, its a fixed rate and hasn't changed for a good while now. We all know the govermnet are screwing us, but they have been for decades now, nothing has changed on that recently.
This thread isn't some thinly veiled rant about prices in general. I just genuinely wondered if anyone knew anything further about the investigation? It was the £1.40 I paid last night that made me think about it. That's all!
This thread isn't some thinly veiled rant about prices in general. I just genuinely wondered if anyone knew anything further about the investigation? It was the £1.40 I paid last night that made me think about it. That's all!
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