'Paraffin mafia' is fined £535m

'Paraffin mafia' is fined £535m

news.bbc.co.uk

The European Commission has fined nine firms a total of £535m ($948m; 676m euros) for operating what it called a price-fixing "paraffin mafia".

Paraffin Mafia fines

Sasol, 318.2m euros
Total, 128.1m euros
Exxon Mobil, 83.6m euros
RWE, 37.4m euros
ENI, 29m euros
Hansen & Rosenthal, 24m euros
MOL, 23.7m euros
Repsol 19.8m euros
Tudapetrol 12m euros

(visit the link for the full news article)

He we go folks another PROVEN comspiracy,

9 OIL companies over the past 2 decades have been price fixing the cost of paraffin wax, secret meetings in hotels , agreeing to fix the prices 20% above the norm, and deciding which parts of the markets they want to dominate.

recognise any names? exxon? total?

more PROOF that they are screwing us for every cent/penny we have.

the only reason this was exposed is that 'Shell' came forward with the info after 2 decades ( with agreement that they would be immune from prosecution). shell thought the word was out and wanted to cover themselves.

So .. Another proven conspiracy..

Shell alone escaped being fined because it blew the whistle on the cartel in 2005 - triggering the investigation - and claimed immunity.

"There is probably not a household or company in Europe that has not bought products affected by this 'paraffin mafia' cartel", said Ms Kroes.

This is the fourth-highest fine imposed so far by EU regulators on a sector.

a 20% fix and you wonder why the world economy is collapsing , because them dirty little fat rich fingers ARE in all the pies! infact they are designing all the pies, telling us which is the best pie to eat. Fixing the market for pies, and giving us no alternative.

PFFT!!!

(sry bout the pie analogy lol)


news.bbc.co.uk
(visit the link for the full news article)

So they get fined a half million pounds, don;t have to actually 'admit' they did anything wrong and life goes on, huh?

Isn't the corporate world beautiful?

Thank you for making this information available here
Definitely Starred and Flagged !

The pie analogy is as good as any other, by the way : )


We're not helpless victims .. we can hit back .. if we care enough and are willing to sacrifice a little comfort.

My own little 'slap' is delivered on daily basis. Have a perfectly good vehicle sitting in the garage, but choose to leave it there for the most part. Instead of driving, I walk to town and transport my purchases in a pull-along shopping cart, sometimes making two trips if necessary.

It was hard slog to begin with because it's a long uphill walk (downhill's fine though But now, a few years along, I'm stronger, am able to hum as I stride, rather than puff, and my muscles get a good daily workout.

When I need to go further afield, I use public transport.

I'm enjoying it. The walk's are great (get to actually experience the changing seasons now and love looking at all the trees and plants in parks and gardens) and even public transport provides time for reflection and various mental activities.

(Other little family efforts include recycling water by bucket .. from the washing machine, etc. to the garden. And have invested in energy-efficient heating, etc.

We shred any credit cards sent to us by the banks and pay cash when we buy. If we can't pay cash, we live without until we can. Paid cash for our house, rather than take holidays and a mortgage. Kids still live at home and save a LOT .. after which they'll pay cash for their first properties. We buy a lot online .. used items, furniture, garden items, etc.

We virtually never buy take-away foods.

We're still living high on the hog compared to our post-war childhoods and really need to cut out so much 'plastic' .. plastic everywhere these days and not by accident.

Can anyone explain in a way that makes sense, just why they stopped providing milk in glass bottles .. and why they stopped making brown paper wrappings and carry-bags for groceries ? I tell you, if ever anyone begins manufacturing those again, I will support them with my life ! This plastic plague has to end. And don't even get me started about disposable nappies (diapers) ! )

End rant. And thanks again, OP, for the great information. Hope it receives lots of hits

I bet 535 mil is chump change to these people, i wonder how their fines weigh up against the 20% markup they all agreed to.

Not only have they been syphoning it off us slowly for decades , at the moment their telling the world that economy is ruined .. just at the moment of the world waking up to how things are run.

And their dumping on the U.S citizens with the bailout bill , i dont know what the new bailout proposal is. it turns my stomach to think these fat cats are going for one big finishing blow and asking the people of america to pay for their high flying mistakes.

You gave these people your money, they abused it and got really rich of it , then tell you your stuck and have to pay again ! wake up people!

while the evidence above, shows a token fine , a drop in the oil er ocean as it were to these big oil companies to make the sheeple think all is working as it should , nice announcement btw , at a time every pair of eyes in America and large parts of the globe, are probably focused on another problem right now.

I hope it gets a lot of views also, but at the moment it saying zero lol , so i dont know how many people are taking interest.




[edit on 1/10/08 by Quantum_Squirrel]

Maybe i shoulda slung this in the peak oil forum , i thought this topic would get more attention.

Maybe all eyes are focused elsewhere.