Oil company executives caught rigging now will escape prosecution

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.

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.

But he added that these changes would not apply retrospectively. The spokesman said: “The law is the law so it will apply at the point it comes in … A change in the law that makes something illegal takes effect from the moment it takes effect.”

No comments. Everybody understands it is just wrong... Although often common sense is not included in the laws.

www.telegraph.co.uk...

The amount of the theft
The number of people injured
The absolutely criminal actions of corporations....not subject to the law.....riiiight
The British people though disarmed, may have another opinion.

Pointing out the obvious....... Of course they won't face prosecution. Corporations ARE the Government.

reply to post by stirling


Still have pitchforks and torches don't they? Seems to have been the go to in the middle ages just watch out for that boiling oil over the parapets.

reply to post by Cabin


Just imagine for a moment.....This is ONLY oil prices they are being accused of manipulation of!!

Did you catch the key words in this statement you quoted? If THE ENERGY sector......Not the OIL industry.....

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

This means everyone is more than likely paying WAAAAAY too much money for all energy prices and nothing anyone can get in trouble for manipulation??

This is complete BS and makes me absolutely sick to think more about!!!

You can't even blame these oil companies, they are working within regulations UNFORTUNATELY!!! The laws govern that this is effing allowed somehow??!!!! Anyone in business would do this to make more money, it is sick that this is allowed!!!

Sons of bitches

S&F for bringing this up, very interesting to read about and enough to piss anyone off