Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Bernie Diamond who wrote (72759)	9/8/2000 10:27:34 PM
From: Big Dog	Read Replies (4) of 95453

It's starting to spread, this discontent. First France, now the UK. These folks are mad as hell and want taxes reduced. I suspect OPEC agrees and may put the piggy on the backs of these governments that lay on these heavy taxes. Wouldn't it be something if it turned out that Big Oil was actually not near as bad as Big Government when it comes to soaking the populace via energy pricing?! I knew Boom 2000 was gonna be big...but its heading beyond even my grandest expectations. (Sort of like William Shatner said about Priceline...<VBG>) All this and a presidential election too! And SadEm is ailing in Iraq...my oh my. Just wait till the first shortage of a deepwater rig hits town...we ain't seen nothin' yet. I still say that the most important tool of the next twenty years won't be the computer...it will be the drilling rig. Without the lowly drilling rig, the world grinds to a halt. It's the price of oil, stupid! big Follow link for full story: lineone.net Petrol price fuels chaos BY JOHN CHAPMAN AND PATRICK 0'FLYNN LORRY drivers threatened a winter of chaos yesterday as Britain's roads were brought to a standstill in protest over soaring fuel prices. As the demonstrators threatened to bring the entire country to a halt within days, ministers refused to contemplate an emergency cut in fuel duties to cancel out the impact of rising crude oil prices. While farmers and lorry drivers set up blockades in the North West, North East and Home Counties, Downing Street set itself firmly against any rescue package to protect rural communities hit by fuel costs. Millions of litres of petrol destined for filling stations across the Midlands and the North of England yesterday remained stranded in the giant Shell oil refinery in Stanlow, Cheshire, and there was a further blockade at a fuel depot near the M1 in Hertfordshire. Shell warned that some of its petrol stations would soon run out of fuel and predicted panic-buying by customers if the protests weren't called off. But instead they spread, with lorry drivers in the North East bringing evening rush-hour traffic to a standstill on the south-bound carriageway of the A1M near Newcastle. Transport Minister Lord Macdonald provoked fury by defending high fuel duties and mocking the low-key response to last month's "dump the pump" call for a 24-hour boycott of filling stations. Downing Street also refused to countenance a reduction in duty, saying that would undermine the Government's bid to improve key public services such as health and education. "A 2p cut in duty would mean a £1billion reduction in revenues and that would entail cuts in public spending programmes. Last year's increase in fuel duty was the lowest for 11 years," said a spokesman for the Prime Minister. Lord Macdonald said it was important to look at the "full context of taxation" when assessing the regime on petrol, signalling that ministers believe high fuel duties are an inevitable trade-off for relatively low income tax.

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