Remember $4.50 a gallon gas? The oil companies and oil speculators surely did and apparently they miss those good old days. But when the laws of supply and demand aren’t working what are they to do?
They resort to Plan B and they manipulate the supply…
Locals in Suffolk watched with growing anger over the summer as more and more tankers dropped anchor.
Southwold mayor Susan Doy said: ‘It is wrong that tankers should be left off our coast for reasons of profiteering. Ordinary people are left to suffer as petrol prices go up.’
Andrew Reid, of ship owners and managers Charles M Willie & Co, said the flotilla off the Devon coast, pictured in the Mail yesterday, was ‘a drop in the ocean compared to the much bigger fleet full of crude oil off Suffolk’.
He added: ‘They are all just waiting there for the price of crude oil to rise, enabling huge profits to be taken. If all this crude were to be delivered there would doubtless be a fall in the crude price and petrol prices.