Oil ‘raids’ and the free market

By Leon J Williams

Free market capitalismThe offices of several oil companies have been inspected by the European Commission which include BP and Shell. The inspections were unannounced to the companies, hopefully catching them by surprise before any evidence can be shredded.

The ‘raids’ which took place in the UK, Norway and the Netherlands happened after allegations were made that the companies colluded to keep oil prices higher than they should have been for more than a decade.

The European commission said the alleged price collusion, which may have been going on since 2002, could have had a “huge impact” on the price of petrol at the pumps “potentially harming final consumers”.

Milton Friedman once said: “Underlying most arguments against the free market is a lack of belief in freedom itself.”
Of course this is absolute nonsense, it’s not a lack of belief in freedom, it’s a lack of trust in the corporate world!

There are countless examples where had it not been for government regulation the ‘free market’ would have hampered competition and worked against the interests of the consumers, making costs higher for ordinary people and profits higher for the corporate world, leading to a much more unequal planet.

The free market is a world without freedom.

5 thoughts on “Oil ‘raids’ and the free market

  1. KBlagoev

    Did someone force people to go and take credit from a bank?

    You socialist always show only one side of the equation with sensationalism argumentation.

  2. Leon J Williams Post author

    It’s a tough position for many people. On one side you have society/media saying that success is having more stuff and on the other you have companies 24/7 bombarding you with “take now buy later” deals and banks hard selling personal loans. You comments show a complete disinterest in taking responsibility. Why blame those who created the system/structure when you can just blame poor people?

    1. Joe

      It’s you, Leon, who shows a complete disinterest in taking responsibility. Blaming others for your own actions is the definition of that and that is what, in essence, your argument does. But don’t let logic slow you down. Keep up the good work.

  3. Joe

    Idiocy is boundless on the internet. Leon, you’re as stupid as the original article. I guess mentioning that oil companies, large banks, and the whole of large corporations work in conjunction WITH the government would be too difficult for the absurd rantings of this page. You try and convince the addle minded that economic freedom is bad because corporations are bad. This is the thinking of a retarded 3 year old who hasn’t yet learned to walk. “There are countless examples where had it not been for government regulation the ‘free market’ would have hampered competition and worked against the interests of the consumers, making costs higher for ordinary people and profits higher for the corporate world, leading to a much more unequal planet.” This is such a bullshit statement there are no words to describe it. It’s easy, of course, to throw out such a statement and back it up with ABSOLUTELY NOTHING! You give no examples, no history, no anything. There are NO examples of what you speak of – they do NOT exist in any large sense. There will always be bad people who will try and take advantage of others but NO amount of gov’t regulation (the entity which actually rapes people the worst) will ever stop that fact nor lessen it. It is govt regulation that exacerbates the problem, not makes it better. I’m sure you will want to throw out Rockefeller as if that somehow proves your point. Alas, it does not. Rockefeller was neither a robber nor a baron. And he certainly didn’t hurt consumers! Rockefeller did not collude with others in the way you represent it. If by collusion you mean he worked with other companies to bring down the price of kerosene and oil so that the consumer could pay less, stay up later, work longer, read more, enjoy more of life at a cheaper rate then hell yes he colluded! But in your use of the word the people that were colluding were Rockefeller’s competitors who colluded WITH the gov’t to limit Rockefeller, to break up his so-called monopoly which was NOTHING of the kind. There were over 100 competing companies when Standard Oil was broken up. You people are a danger to civilization. Spreading lies to keep your bullshit state religion running, destroying the currency, imprisoning people for victimless crimes, waging wars, murdering millions. Read some history, pick up an economics book – do the world a favor and educate yourself for Christ sake,.

  4. Leon J Williams Post author

    So you have no idea about monopolisation? You have no idea that companies like Microsoft and Intel have been fined record sums of money because of anti-competition?

    It’s sad that you are so ignorant.

    The total in fines imposed on Microsoft to about $US 2.5 billion, at current exchange rates. http://en.wikipedia.org/wiki/Microsoft_litigation

    Intel’s anti-competition lawsuits run into the billions of dollars too http://en.wikipedia.org/wiki/Intel#Competition

    The list really does go on and on…

    List of EU lawsuits against anti-competition companies: http://ec.europa.eu/competition/elojade/isef/index.cfm

    On the same issue, http://en.wikipedia.org/wiki/John_D._Rockefeller#Monopoly

    Thank you for your comments, I don’t particulally like your tone, it would be nice if you could argue your point(s) in a more civilised manner. Just because someone holds a different perspective to you does not mean you should resort to name-calling.

    If there are other specific issues you wish me to enlighten you about feel free to ask.


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