Collusion Course: Machinations of the Double-Headed Beast

http://www.chris-floyd.com/component/content/article/1-latest-news/2324-collusion-course-machinations-of-the-double-headed-beast.html

The London offices of BP and Shell have been raided by European regulators investigating allegations they have "colluded" to rig oil prices for more than a decade. The European commission said its officers carried out "unannounced inspections" at several oil companies in London, the Netherlands and Norway to investigate claims they may have "colluded in reporting distorted prices to a price reporting agency [PRA] to manipulate the published prices for a number of oil and biofuel products" .. It warned: "Even small distortions of assessed prices may have a huge impact on the prices of crude oil, refined oil products and biofuels purchases and sales, potentially harming final consumers."