Vir Cantium

I'm right, you know …

One of Those West Wing Summits

Brown to Meet Oil Industry Chiefs

Well that’s going to be a productive meeting. Not. Rather more likely it’ll be one of those five minute summits a la The West Wing.

According to the clunking fist himself, writing in the Grauniad (all his own work, I’m sure):

The cause of rising prices is clear: growing demand and too little supply

Uh-oh. Gordon’s been reading the Dummies Guide to Economics again. Actually, that isn’t the only cause of rising prices. There is also clear evidence of a speculative bubble, fuelled by stock market volatility. Anyway, in his typically roundabout way, as summarised by the BBC, Gordon says that:

… an increase in the supply of oil would lower the price of fuel and ease pressure on the government over the planned tax increases.

I can think of something else that would help reduce the price of fuel at the pumps. It starts with a “t” and rhymes with “fax”, and he’s been coining it in for months on the back of the higher oil price. In any case, since a couple of weeks ago it’s clear that, contrary to the squeals from the Left every time a Conservative suggests as tax cut, it can now just be put on the plastic, along with the 2.7bn from the 10p “solution”. After all, Brown gave us ten years of prosperity (not boom before bust, oh no) so he can’t be wrong.

Declares the rocking-horse fancier:

But each country has also to act now to help those hit by high fuel bills. In Britain this means increased winter fuel payments; a new one-stop service on home energy efficiency; free insulation for people on low incomes and the over 70s and a £150m programme financed by the utility companies to cut fuel bills for lower income families.

In Britain this means fiddling around the edges with overly complicated solutions to the issue, rather than, ooh, say, cutting VAT on fuel? After all, aren’t we all tax cutters now?


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