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User ID: 1519408 United States 05/28/2013 12:03 PM Report Abusive Post Report Copyright Violation | 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 Report Abusive Post Report Copyright Violation | 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 |