Entertainment For Lively Minds
Petrol Crisis
Posted by Spartacus Mills on 24 January 2012 - 2:00pm.
A refinery that produces 10% of the UK's petrol supply has closed, leading to fears of a shortage, causing chaos on our forecourts.
Don't know about you, but I'm off to fill my tank before the panic-buying sets in.
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MEP Richard Howitt
says it could affect the Olympics !!!
http://www.bbc.co.uk/news/uk-16702584
When the panic buying does set in...
...at least we have documentary evidence to trace it back to you, Spart.
South East
Seems to be more of a problem in the south east, perhaps I'll drive to Manchester to get my petrol!
sorry, how does a company selling petrol
manage to go bankrupt?
Because the public
refuses to buy petrol at these ridiculous prices.
Dreams on...
BTW, anyone remember when the oil companies were citing the £ / $ FX rate as a reason for prices going up? They seem to have been quiet since it started going the other way...
Although oil companies...
....make a lot of money from petrol, they don't make a fortune. Well, of course they make a fortune but there are other parts of the industry much more profitable. The oil companies would love to put another few pence on each litre but they'd never get away with it because of the high level of taxation already in the price.
Once upon a time, BP owned just about it all. They drilled for oil in the North Sea, they made petrol at refineries in Coryton and Grangemouth(and elsewhere) and they sold it at the pumps. These days, BP has very little in UK because of the levels of taxation forced on them by the govt.(and they ain't doing very well in Russia or the USA right now either). I don't know about Coryton, but at Grangemouth, BP sold its Chemical works and its Refinery to a company called Ineos. BP sells the crude oil to Ineos....BP still makes the big bucks and Ineos is left with the refining and chemical business and trying to run it like any other business. I guess it's a similar problem at Coryton.