UK Oil Execs Caught Price Rigging Cannot Be Prosecuted
2013 05 16

From: Telegraph

Oil company executives who are found to have manipulated the petrol price cannot be prosecuted, Downing Street admitted today.

Number 10 admitted that any change in the law to prosecute anyone for allegedly fixing the pump price would be forward-looking, and would not be able to hold to account any executives caught up in the current scandal.

David Cameron said he will urgently look at “extending criminal offences” to cover market manipulation in the energy sector, after BP and Shell were raided by European authorities on suspicion of rigging oil prices.

The Prime Minister said on Wednesday that any executives should face criminal prosecution if they are found to have fixed the price of petrol.

Amid fears that British motorists could have been duped into paying thousands of pounds too much for petrol over the past decade, Mr Cameron told the companies they will face the “full force of the law” if the accusations are true.

Ministers are under pressure to take action as the investigation already has echoes of last year’s Libor controversy, which saw banks falsely report key interest rates.

Following that scandal the Government created new laws which made it an offence to manipulate the benchmark mortgage interest rate.

But Number 10 admitted any prosecutions over any petrol price-fixing could only happen if the current rules were extended to include the energy sector, possibly through secondary legislation.

If this happened, any charges could not be applied retrospectively.

[...]

Read the full article at: telegraph.co.uk









Related Articles
PETROL executives should be JAILED if they are found to have ripped off millions of Brits


Latest News from our Front Page

Recent Israeli Synagogue Attack, a Possible False Flag?
2014 11 21
Dear Friends - I woke up yesterday morning to see a newspaper lying on the kitchen table with the front page proclaiming that five people were slain in an Israeli synagogue after a so-called "Palestinian attack." Some members of the media said that four people were killed, others said five, so it seems like that there was some confusion (or ...
The Michael Brown Shooting, Race Baiting for Political Power and Militarization of the Police
2014 11 21
From Youtube: The evidence clearly shows that Officer Darren Wilson was justified in shooting Michael Brown, so why is this case being hyped by the mainstream media and the leftist political establishment?
Detekt: A New Malware Detection Tool That Can Expose Illegitimate State Surveillance
2014 11 21
Recent years have seen a boom in the adoption of surveillance technology by governments around the world, including spyware that provides its purchasers the unchecked ability to target remote Internet users’ computers, to read their personal emails, listen in on private audio calls, record keystrokes and passwords, and remotely activate their computer’s camera or microphone. EFF, together with Amnesty International, ...
New UK spy chief says tech giants aid terrorism, privacy not ‘absolute right’
2014 11 21
Robert Hannigan, the new head of GCHQ The new head of Britain’s GCHQ, the UK equivalent of the NSA in the U.S., said he believes privacy is not an absolute right and that tech giants must open themselves up to intelligence agencies. “GCHQ is happy to be part of a mature debate on privacy in the digital age,” Hannigan said. “But privacy ...
LOL: Atheist Feminist Pornographer Used as Moral Authority in T-shirt Row
2014 11 21
Dr. Matt Taylor was thrust into the headlines this last week, largely for his lead role in successfully landing a spacecraft on a comet 300 million miles from earth that travels at a speed of 85,000 mph. In short, Taylor and his colleagues pulled off one of the most amazing achievements in contemporary science and space exploration, and in a ...
More News »