Topic: The Full Price of Oil

[sam]

The  oil slick in the Gulf of Mexico continues to grow. The screw top placed on top of the broken well now captures more than 600,000 gallons a day and, yet, remains largely invisible behind a veil of oil that continues to spill, adding to the as much as 50 million gallons already in the ocean depths. 

http://www.scientificamerican.com/podcast/episode.cfm?id=the-full-price-of-oil-10-06-13

[Rik]

It will be interesting to see if it has any effect on America's use of fuel.

[Simon]

Surely this will raise fuel costs astronomically the longer it carried on?

[Rik]

It must do, though as it only affects BP, I wonder how the cartel will cope.

[Simon]

I'm sure they would all be happy to raise their prices in support of BP. 

[Rik]

Exactly. Would anyone act against them, I wonder.

[Simon]

Like?

[Rik]

OFT would be the natural body to deal with price fixing. Just can't see them taking on the oil giants.

[Simon]

So, we don't really stand a chance. 

[Rik]

Do we ever?

[Simon]

[Clive]

The Americans will be very upset when the cost of their fuel doubles.  Obama will pay a high price with the electorate for his actions. 

[Rik]

I think he was going to anyway, Clive, his dream came at the wrong time.