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12/10/2010 01:28 PM ID: 86770 Permalink   

UK Gripped by Record Fuel Prices with Further Raises to Come


Unleaded prices have reached a new record high in the UK at an average of £1.21 ($1.92 USD) per litre or £5.44 ($8.71 USD) per gallon.

The average British motorist is already paying nearly £6 ($9 USD) more for a tank of fuel than at the beginning of the year.

Fuel price woes aren´t due to stop there either with hikes in both VAT and Fuel Duty planned for early 2011. This could push up the price of fuel a further 3.5p per litre in the New Year.

    WebReporter: spacechimp Show Calling Card      
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  Dig deep into that wallet...  
it´s only going to get worse from here on out and very quickly. Many experts claim we just hit peak oil while other said it occurred in 2006. Supply will diminish from this point on while demand grows quickly with China and India competing for a larger and larger share of the pie.

This is why both the Right and Left in Congress keeps the wars going in Iraq and Afghanistan while trying to encircle Iran where one of the largest natural gas fields in the world exists.

It is also why US propaganda pointed towards taking out Hugo Chavez in a Noriega style attack on Venezuela could be immanent. Venezuela has the largest known oil reserves in the Western hemisphere.
  by: Valkyrie123     12/10/2010 05:35 PM     
  Our Future  
Here in the US, we have a group of people who believe in "American Exceptionalism," among their beliefs is that it is our right to keep using more energy than anyone else on the planet.

To conserve energy isn´t a tenant of being a conservative. Being as wasteful as possible seems to be a conservative value.

They see Jimmy Carter as a failure because he warned us about where our extravagant ways will lead.

Twenty years from now, as prices go up as demand increases and supplies go down, he might be seen differently by this group.
  by: Jim8   12/10/2010 05:43 PM     
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