Prices are rising... not surprising when VAT increases and crops fail through drought or flood.But why are prices rising so quickly across a whole range of consumables?
Probably the massive amounts of profit being taken by oil companies is the explanantion.
Shell alone make £1.6 million pounds an hour PROFIT! That is £3.5 billion over the last quarter alone, £18.6 billion profit for the full year. The oil companies blames the high price on the cost of crude oil... which they themselves produce.
It should be remembered that the price of oil is not really being set by tensions in Egypt, despite the claims of pundits and politicians. The real reason is that following the financial crisis many of the worlds biggest investors, especially Goldman Sachs, shifted their liquid assets, much of which was delivered to them via cheap or free state bailout cash, into oil futures thus driving up the crude price for 2008, 2009, 2010 and 2011. They made a killing on those profits.
We the people paid the interest on this cash to ensure a money supply to keep the banks solvent, and that is how they repay us.
Read more here
Meanwhile the oil companies unfettered by any form of government intervention are able to make record profits.
