Conservative MP Urging for Oil Sector Tax
Robert Halfon, MP for the Conservative party and the founder of PetrolPromise has suggested that the government impose a windfall tax to the UK oil sector after the EC has launched its investigation last week to the accusation of alleged price fixing.
After the significant suspicion on oil firms such as BP, Shell and oil pricing agency Platts, who said that they were fully cooperating with an investigation of their London offices to confirm whether these companies had been price fixing. It has been suspected that anti- competitive practices and violations are believed to have been in progress by these leading oil companies since 2002.
Halfon said that “A windfall tax would help to recover the money that could have been lost and would also help to reduce fuel duty”. He also called on the Office of Fair Trading (OFT) to act, saying that their previous effort was “a limp-wristed lettuce leaf of an investigation”. FairFuelUK founder Peter Carroll believes that a £5bn windfall would knock around 10ppl off fuel prices, and that anyone found guilty of price fixing should be imprisoned for “substantial terms for ruining people’s lives”.
For more information following this investigation visit the European Commission website.
After the significant suspicion on oil firms such as BP, Shell and oil pricing agency Platts, who said that they were fully cooperating with an investigation of their London offices to confirm whether these companies had been price fixing. It has been suspected that anti- competitive practices and violations are believed to have been in progress by these leading oil companies since 2002.
Halfon said that “A windfall tax would help to recover the money that could have been lost and would also help to reduce fuel duty”. He also called on the Office of Fair Trading (OFT) to act, saying that their previous effort was “a limp-wristed lettuce leaf of an investigation”. FairFuelUK founder Peter Carroll believes that a £5bn windfall would knock around 10ppl off fuel prices, and that anyone found guilty of price fixing should be imprisoned for “substantial terms for ruining people’s lives”.
For more information following this investigation visit the European Commission website.
