Popular Science News | Speculators Cause Petrol Price Rise

Popular Science News | although the rise of the price of crude oil and the price of petrol at the pumps isn’t science, it does show how the availability of resources is controlled. Petrol in the UK is about to rise 5p per litre because the oil giants refused to pass on recent crude oil price drops to the customer. Prices should have gone down 2p per litre. Of course, now that crude oil prices are rising you can be sure that these are swiftly being passed on to the consumers.

What many people do not realise is that petrol is only one resource controlled by large companies who try to buy up as much of a resource as possible¬† and push the price up in order to make a profit. This is not only the Western Way but over the last few decades ex-communist countries are doing the same. Russia, gas and oil, and China rare earth materials needed for manufacturing electronics. Some say, in the case of the ex-communists, this is an attempt to topple capitalism, while others say that the ex-communists have grown to love the Western Way. Russia’s President Putin is reputed to have amassed an envious $60bn mastering capitalist principles.

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