1. Most Discussed
  2. Gainers & Losers

maybe war is not imminent

  1. Higher oil and fuel prices created by threat of war in Iraq seem irrational but must be filling the coffers of oil companies. Maybe war is not in the interests of GWB's oil lobby backers but threat of war is just great! Maybe, like the 70's oil shortage that was planned in Texas but blamed on the Saudis, the current raised oil prices are the short term end game.


    Peak Tasmanian motoring body the RACT has called on Australia's competition watchdog to investigate soaring petrol prices.

    RACT chief engineer Doug Ling says the stronger Australian dollar should be offsetting higher world oil prices.

    On the New York Mercantile Exchange this morning, West Texas intermediate crude reached $US38 a barrel, a level not seen since 1991.

    Mr Ling has urged the Australian Competition and Consumer Commission to investigate.

    "We're also calling on the Federal Government to look at ways of giving back the windfall that they're now receiving from the increased petrol prices," he said.

    "We believe they're getting about $410 million extra from the petroleum resource rent tax and about $220 million from the GST."

DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top