UK Oil Execs Caught Price Rigging Cannot Be Prosecuted
2013-05-16 0:00

From: Telegraph

Oil company executives who are found to have manipulated the petrol price cannot be prosecuted, Downing Street admitted today.

Number 10 admitted that any change in the law to prosecute anyone for allegedly fixing the pump price would be forward-looking, and would not be able to hold to account any executives caught up in the current scandal.

David Cameron said he will urgently look at extending criminal offences to cover market manipulation in the energy sector, after BP and Shell were raided by European authorities on suspicion of rigging oil prices.

The Prime Minister said on Wednesday that any executives should face criminal prosecution if they are found to have fixed the price of petrol.

Amid fears that British motorists could have been duped into paying thousands of pounds too much for petrol over the past decade, Mr Cameron told the companies they will face the full force of the law if the accusations are true.

Ministers are under pressure to take action as the investigation already has echoes of last years Libor controversy, which saw banks falsely report key interest rates.

Following that scandal the Government created new laws which made it an offence to manipulate the benchmark mortgage interest rate.

But Number 10 admitted any prosecutions over any petrol price-fixing could only happen if the current rules were extended to include the energy sector, possibly through secondary legislation.

If this happened, any charges could not be applied retrospectively.

[...]

Read the full article at: telegraph.co.uk









Related Articles
PETROL executives should be JAILED if they are found to have ripped off millions of Brits


Latest News from our Front Page

Professor: Reason Itself Is A White Male Construct
2015-07-04 3:55
A philosophy and religion professor at Syracuse University gave an interview to The New York Times Thursday in which he critiqued the notion of pure reason as simply being a “white male Euro-Christian construction.” Prof. John Caputo was being interviewed by fellow philosophy professor George Yancy for the 13th installment of an interview series Yancy conducts with philosophers regarding racial topics. Given its emphasis on first principles ...
The Broken Window Fallacy
2015-07-04 3:48
Youtube description: This short video explains one of the most persistent economic fallacies of our day. Source: youtube.com
Jenji Kohan and the Jewish Hyper-Sexualization of Western Culture
2015-07-04 3:33
As detailed in The Culture of Critique, Freud and his followers regarded anti-Semitism was a universal pathology which had its roots in sexual repression. The theoretical basis for this can be found in Freud’s Three Essays on the Theory of Sexuality where he linked aggression to the frustration of human drives — especially the sex drive. Kevin MacDonald notes that: ...
Confederate History - Dispelling the Myths
2015-07-03 3:28
History books, the media, the school systems, etc abound in falsehoods and inaccuracies of Confederate and Southern history. This fact sheet will help to clarify and dispell some of these rampant inaccuracies. MYTH - The War of 1861 - 1865 was fought over slavery. FACT - Terribly untrue. The North fought the war over money. Plain ...
Gays Rights May Open Door for Pedophile Rights
2015-07-03 3:31
Democrats have attempted to normalize pedophilia as a sexual orientation. A recent Supreme Court ruling on same-sex marriage may soon allow pedophiles to argue they are suffering discrimination. “Using the same tactics used by ‘gay’ rights activists, pedophiles have begun to seek similar status arguing their desire for children is a sexual orientation no different than heterosexual or homosexuals,” writes Jack Minor ...
More News »