| inbluevt | Date: Tuesday, 2013/05/14, 9:40 PM | Message # 1 | DMCA |
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The London offices of BP and Shell have been raided by European regulators investigating allegations they have "colluded" to rig oil prices for more than a decade.
The European commission said its officers carried out "unannounced inspections" at several oil
companies in London, the Netherlands and Norway to investigate claims they may have "colluded in reporting distorted prices to a price reporting agency [PRA]to manipulate the published prices for a number of oil and biofuel products".
The commission said the alleged price collusion, which may have been going on since 2002,
could have had a "huge impact" on the price of petrol at the pumps
"potentially harming final consumers".Lord Oakeshott, former Liberal Democrat Treasury spokesman, said the alleged rigging of oil prices was "as serious as rigging Libor" – which led to banks being fined hundreds of millions of pounds.
He demanded to know why the UK authorities had not taken action earlier
and said he would ask questions of the British regulator in Parliament.
"Why have we had to wait for Brussels to find out if British oil giants
are ripping off British consumers?" he said. "The price of energy
ripples right through our economy and really matters to every business
and families."
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Message edited by inbluevt - Tuesday, 2013/05/14, 9:42 PM |
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