UK to examine oil market trading as prices soar
By Philip Aldrick
Regulation of Britain’s oil markets will come under political scrutiny later this month amid concerns that the spike in prices is being driven by speculators.
News that the powerful Treasury Select Committee has called a hearing into the market’s regulation for “mid-July” came as Brent crude rose above $145 a barrel in London – a new high – and Gordon Brown warned oil prices may keep climbing.
The hearing is a first response to mounting pressure on politicians to take action over oil prices. America has attempted to curb speculation by imposing checks on London’s oil traders through the Commodity Futures Trading Commission, leading to accusations of US imperialism.
US senators have blamed rising oil prices on “manipulation and excessive speculation” in the London oil market.
Speaking at his approval hearing before the TSC on Wednesday, Lord Turner of Ecchinswell, the incoming chairman of the Financial Services Authority, confirmed that “speculation is an issue that needs to be looked at”. “So far there is no large evidence that speculation is playing a significant role in the oil price. There are a set of fundamental reasons on supply and demand as to why we have the spike in oil prices today.”
The gloomy predictions came as Leeds-based haulage firm Macfarlane Transport collapsed into administration, risking the loss of 300 jobs, according to administrators KPMG.
UK drivers face further pain, with every $2 rise adding about 1p to petrol prices, according to the AA.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/04/cnoil104.xml
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
