Thursday, 3 July 2008

found on MSN website today...

Darling says oil price "real problem"

Darling says oil price "real problem" (© REUTERS2008)


LONDON (Reuters) - The oil price is a real problem and production needs to rise, Chancellor Alistair Darling said on Thursday.

In a radio interview with the BBC, Darling said high oil prices were feeding inflationary pressures not just in Britain but around the world.

"Oil was yesterday over $140 a barrel. When you consider that a year ago it was half that, this is a real problem for us," he said.

"We have got to ensure two things I think. One is that we can increase production of oil in the short term but also in the longer term we have got to reduce our dependency, particularly for our country, on imported levels of oil and gas."

(Reporting by Sumeet Desai and Jeremy Lovell; editing by Mike Peacock)


Andrew Martyn Sugars said...

my thoughts on this are :
1. darling is wearing a lovely suit.
2. if you have a puddle and a tea spoon, how long to empty it
3. there seems to be a denial about what is going to happen when oil gets rarer than it is now. Will there be a lot of worthless automobiles. Yes that's going to happen in years to come, so why worry. Thing is, will it happen like a hot dog stall at a large public event, where they become overun with people wanting tea.

wnedywoo said...

Yes it is a lovely suit but I wish he would either dye his hair or his eyebrows. He looks like Joe 90.
I suppose it depends how big the puddle is and the size of the teaspoon. I guess if it rains a lot the answer would be.... never!
Denial is right. We should have started to think of this 20 years ago. Can you really blame the good old USSR and Chavez for wanting to hold onto what they have.
Back to peddle power I say.