UK Chancellor blames OPEC for oil crisis, refuses to cut fuel tax
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The United Kingdom Chancellor Gordon Brown blamed oil producers from OPEC for oil prices surge in the BBC's Sunday AM programme. Mr Brown accused 'the cartel' of the lack of reaction on China's rising oil demand. He said that he wanted OPEC to increase supplies by the end of the month. However, the Chancellor insisted that the government would not ease the tax on fuel, saying that the price surge is "a global challenge that demands global measures". He admitted the situation is as serious as it was in 1970s oil crisis, but added that the slump
The United Kingdom Chancellor Gordon Brown blamed oil producers from OPEC for oil prices surge in the BBC's Sunday AM programme. Mr Brown accused 'the cartel' of the lack of reaction on China's rising oil demand. He said that he wanted OPEC to increase supplies by the end of the month.
However, the Chancellor insisted that the government would not ease the tax on fuel, saying that the price surge is "a global challenge that demands global measures". He admitted the situation is as serious as it was in 1970s oil crisis, but added that the slump can be avoided due to stability and low inflation rate of the British economy.
Mr Brown will probably have to face country-wide protests on high fuel prices. The protesters from the Fuel Lobby give the government three days to meet them to discuss lowering the fuel tax, then they threat refinery demonstrations and motorway go-slows.
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Licensed archive reporting by Wikinews contributors. Text: Public domain (https://en.wikinews.org/wiki/Wikinews:Copyright). Original source date retained. 411 has not independently verified this archive report.
Read the source: Wikinews ↗Source published 11 Sept 2005, 05:30 am IST
