Just saw on the news that we only import 5% of our oil and gas...

So why the hell is it so expensive?

95% of it comes from the UK!

We can't blame any "tensions in the middle east", "conflicts in Nigeria",
etc, because the overwhelming majority of it, is from our own Isles!

Who the feck are the oil companies kidding?

A drop in the amount of tax put on oil by the government should happen
immediately to sort this mess out.

A cessation of all military conflicts that we're unneccesarily involved in
should be able to cover the loss.

Otherwise its bye-bye Mr Brown.

wrote in message news:QPj%j.19832$%B6.2713@newsfe13.ams2...
> Just saw on the news that we only import 5% of our oil and gas...

I think you may have left a zero off after the 5! We are now a net 
importer of crude oil.

> > Just saw on the news that we only import 5% of our oil and gas...
>
> I think you may have left a zero off after the 5! We are now a net
> importer of crude oil.

Nope - I think it was on Sky News - get on Freeview - they repeat it often
enough.

wrote in message news:QPj%j.19832$%B6.2713@newsfe13.ams2...
> Just saw on the news that we only import 5% of our oil and gas...
>
> So why the hell is it so expensive?
>
> 95% of it comes from the UK!

That isn't the real question.

Try some sums.

Oil is, say, $130 a barrel.

$130 is about £68 (at $1.90 to the £).

So, in the UK (with petrol at £1.14 / litre),  a litre costs about 1/60 of 
the price of a barrel.

In the USA (with petrol at, say, $0.60 / litre),  a litre costs about 1/216 
of the price of a barrel.

The US price includes US taxes and the crude is bought in the same world 
market.

Brian

"Brian Reay" <see@website.invalid> wrote in message
news:8lv%j.41132$Ht.16713@newsfe05.ams2...
>
>
>  wrote in message news:QPj%j.19832$%B6.2713@newsfe13.ams2...
> > Just saw on the news that we only import 5% of our oil and gas...
> >
> > So why the hell is it so expensive?
> >
> > 95% of it comes from the UK!
>
> That isn't the real question.
>
> Try some sums.
>
> Oil is, say, $130 a barrel.
>
> $130 is about £68 (at $1.90 to the £).
>
> So, in the UK (with petrol at £1.14 / litre),  a litre costs about 1/60 of
> the price of a barrel.
>
> In the USA (with petrol at, say, $0.60 / litre),  a litre costs about
1/216
> of the price of a barrel.
>
> The US price includes US taxes and the crude is bought in the same world
> market.
>
> Brian

Exactly! Our government's taxation policy will be its undoing.
Labour are already on the ropes and I reckon they've got a few months at
best to drag themselves back - and the only way to do that is by cutting
taxes left, right and centre (and not just poxy road tax - which for once, I
actually agree with) - or they are well and truly history.

wrote in message news:Sxv%j.38656$_c7.26726@newsfe16.ams2...

>
> Exactly! Our government's taxation policy will be its undoing.
> Labour are already on the ropes and I reckon they've got a few months at
> best to drag themselves back - and the only way to do that is by cutting
> taxes left, right and centre (and not just poxy road tax - which for once, 
> I
> actually agree with) - or they are well and truly history.

I'm no supporter of Labour but don't fool yourself that the Tories or the 
Liberals have an alternative.  Both have swallowed the "global warming" 
nonsense and will use it to justify crippling taxes.

Brian

wrote in message
news:hjm%j.33787$cZ3.31457@newsfe10.ams2...
>> > Just saw on the news that we only import 5% of our oil and gas...
>>
>> I think you may have left a zero off after the 5! We are now a net
>> importer of crude oil.
>
> Nope - I think it was on Sky News - get on Freeview - they repeat it
> often
> enough.

I got this from the National Statistics Office:

"Oil sales climbed to 2.5 billion pounds, the highest since monthly 
records
began in 1980, as the price of crude increased, the statistics office
said. The cost of a barrel of crude reached an all-time high of $112.21
yesterday. The oil balance was in surplus for the first time since April
2006. "

So we could export 52.5% of our oil requirements by *value*, and import 
50% of our requirements by value! This would give us a surplus by value of 
5%. Or a deficit if the figures were reversed. They vary on a month to 
month basis depending on the price of oil at the time.

North Sea oil is a particular high grade of oil and is not suitable for 
all of our needs. We therefore export it and import the lower grade stuff. 
It is not correct to say we only import 5% of our oil needs. Sky News(sic) 
was not comparing like with like.

On  your general point you were absolutely correct. We do have the highest 
tax on fuel of our European competitors. How Brown conned people who 
should know better that he was economically competent is beyond me.

A couple of days ago he met the oil companies to persuade them to invest 
in more North Sea oil fields. But in 2005 he landed the oil companies with 
a windfall tax. At the time he was told that this would be a disincentive 
to invest in the North Sea but he knew best as usual.

He sold our gold reserves at $330, it is now $930. He stole billions from 
deferred pensioners. He conned the poor with his 10% tax scam, he loaded 
us up with stealth taxes by the billion. He has created the highest budget 
deficit in the Western world. For what? For some ego trip that he knew how 
to spend our money better than we did. And what have we got for it? GP's 
recommending that patients go private, education at best no better than it 
was, university students having to pay for their college fees, inflation 
going north and the pound going south. People's confidence in the future 
shot to bits! This Labour government will bow out the way that all Labour 
governments do, leaving the country bankrupt.

> Our government's taxation policy will be its undoing.
> > Labour are already on the ropes and I reckon they've got a few months at
> > best to drag themselves back - and the only way to do that is by cutting
> > taxes left, right and centre (and not just poxy road tax - which for
once,
> > I
> > actually agree with) - or they are well and truly history.
>
> I'm no supporter of Labour but don't fool yourself that the Tories or the
> Liberals have an alternative.  Both have swallowed the "global warming"
> nonsense and will use it to justify crippling taxes.
>
> Brian

Absolutely. But we know its more of the same if we stick with Labour and I
think its finally worth a shot at the competition.

Taxation is half the story. I'd rather our taxes were spent properly. For
example, not on unnecessary focus group committees that take three years to
work out an answer that most of us can provide in 3 minutes - and at the
cost of millions. That makes my blood boil.

They are history. Its obvious. Its just those final few moments now that we
are just checking our watches as we watch them waste time. Like Bush in
America - who reports on what he's saying any more? Its all about the next
leader. It'll be like that here soon. I can't wait, although for what its
worth, Cameron seems like a media-savvy, market researched, bugle-boy who
wants to be successful at being a politician, not making the country better
from the goodness of his heart.

What's the other one called - the Lib guy? Nick something - Clegg? Mm, he's
a Cameron spot-light clone, but with no experience, the good I have heard
him say isn't enough to justify him running the country. So we are truly
stuck between a rock and a hard place.

Its times like this when you could easily think, leave it all to the Monster
Raving Looney Party - as Gore Vidal said recently about Bush - anyone could
be a better President - the doorman of his hotel could do a better job. I
don't think Gordon's quite in that league yet, but if all he is about is Tax
 and Spend (and cock it up), then I'd rather take my chances elsewhere.

Like the football clubs in this land, can't we import talent from
elsewhere - say, Scandinavia - where some countries are taxed even more
heavily than us, but their countries are comparatively spotless, have
low-crime, are miles more eco-friendly, are generally highly organised,
technically adept and the whole shebang doesn't go to pot when there's snow
on the roads? Please?

wrote in message 
news:jqE0k.55510$SA7.26328@newsfe09.ams2...

> Its times like this when you could easily think, leave it all to the 
> Monster
> Raving Looney Party - as Gore Vidal said recently about Bush - anyone 
> could
> be a better President - the doorman of his hotel could do a better job. 
> I
> don't think Gordon's quite in that league yet, but if all he is about is 
> Tax
> and Spend (and cock it up), then I'd rather take my chances elsewhere.

I used to have a sneaking admiration for Gore Vidal until I saw him 
interviewed the other night. Bitter, spiteful, he acted like he had 
suddenly realised his whole life had been a failure. Brown is more like 
Vidal than Bush. It is depressing what age does to some people.

On Sun, 1 Jun 2008 23:19:10 +0100, "Not Today" 
wrote:

>I used to have a sneaking admiration for Gore Vidal until I saw him 
>interviewed the other night. Bitter, spiteful, he acted like he had 
>suddenly realised his whole life had been a failure. 

well, what else would you expect from a hairdresser?



/gets coat.

"Herbie Cumberland"  wrote in message 
news:dcn744hoofv429vrd95fqon6etcdi55g8e@4ax.com...
> On Sun, 1 Jun 2008 23:19:10 +0100, "Not Today" 
> wrote:
>
>>I used to have a sneaking admiration for Gore Vidal until I saw him
>>interviewed the other night. Bitter, spiteful, he acted like he had
>>suddenly realised his whole life had been a failure.
>
> well, what else would you expect from a hairdresser?
>
>
>
> /gets coat.

Eye thang yew!! An goo'nite!
-- 
Harry Keane