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Oil-Price Rigging Has Echoes of Libor Manipulation

 
DoorBert

User ID: 1519408
United States
05/28/2013 12:03 PM

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Oil-Price Rigging Has Echoes of Libor Manipulation
After years of suspicion for price manipulation, major oil companies such as Royal Dutch Shell Plc (RDSA), BP Plc(BP/), Statoil ASA (STIL) and Platts were raided on May 14th.

Antitrust regulators were looking into potential collaborations by traders which could result in detrimental effects to consumers. EU Competition Commissioner Joaquin Almunia said, "To some extent this problem has similarties with the benchmarks in the financial sector and with the investigations we are carrying out on Libor..."

[link to www.bloomberg.com]
Anonymous Coward
User ID: 40519458
United Kingdom
06/04/2013 03:06 PM
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Re: Oil-Price Rigging Has Echoes of Libor Manipulation
so they won't face criminal charges
they may be fined by the commission- and the fines will be passed on to us


very tidy


[link to www.telegraph.co.scandaluk]

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

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