Learsy indicts oiligarchs and their vested government cohorts

MP Robert Halfon set up an e-petition which closed on August 5th. It opened: 

High petrol and diesel prices are crippling our economy. Many motorists now pay a tenth of their income just to fill up the family car, and millions of families are suffering. 

As it reached more than 100,000 signatures, the Government notified the Backbench Business Committee in the House of Commons, which has scheduled a debate on the matter on 15 November. 


The approach of Raymond J. Learsy, author of “Oil and Finance: The Epic Corruption Continues-2011/2012” focusses on the theme of the Political Cleanup site site – the corporate-political nexus – referring to “the good souls of FairFuelUK dreamers” who are bravely taking on: 

  • the entrenched might of the oiligarchs [sic],
  • their vested government cohorts,
  • the financial world’s speculation driven excess,
  • the lame oversight agencies
  • and just the rote power of all that oil money pushing to keep the status quo intact. 


He describes “the Herculean task of taking on the oil gang and all their vested hangers-on” noting that even a broadside from heads of state, Prime Minister Gordon Brown and French president Nicolas Sarkozy in the Wall Street Journal, 2009, failed to “change the mores or deter the entrenched interests to push for ever higher oil prices”. 

Learsy recorded in February: 

“Only a month ago the price of oil jumped some 9.36 percent on the most specious of reasons in one days trading on the world Commodities Exchanges or a move of some $7.27 for WTI (West Texas Intermediate). At $7.00 per barrel, times the world’s daily consumption of some 85 million barrels, you do the sums on the massive transfer of the world’s wealth to the pockets of oil interests on this one day’s price movement alone (also please see “Oil Price Skyrockets 9.36 Percent in Friday’s Trading. Supply and Demand, Eh??” 07.02.12)”   

His verdict: 

“Clearly the oil market is manipulated. In 2005 and with an updated version in 2007, I published “Over a Barrel: Breaking Oil’s Grip On Our Future” which detailed at length the impact of the OPEC cartel on the oil market and its quiescent allies in the halls of government in the U.S. and abroad happily cheered along by the non OPEC oil producers (high prices for OPEC mean high prices for Shell, Exxon, et al.). It is a horror tale of money buying government policy.” 

Despite the testimony of Rex Tillerson, Chairman and CEO of Exxon Mobil who informed the Senate Finance Committee in Washington last year that the price of oil then near $100/bbl, should be no more than $60-$70/bbl, no attention was paid by the media, government agencies or even the Oil and Gas Pricing Fraud Panel organized by the U.S. Justice Department. 

Learsy’s advice applies to all sectors of the economy, including health, education, local government, utilities, defence, pharmaceuticals, transport, unethical science and retail: 

PCU agrees with him that “the only way the cards, as they are currently being dealt are going to change is if enough people understand how they are being taken to the cleaners by the moneyed players. That they must stand up as one voice to demand government action.”

Raymond J. Learsy is author of “Oil and Finance: The Epic Corruption Continues-2011/2012” “Oil and Finance: The Epic Corruption-2006/2010” 


With thanks to the person who sent news of the work of FairFuelUK and this article on their website.


Posted on August 8, 2012, in Banking and finance, Conflict of interest, Corporate political nexus, Democracy undermined, Lobbying, Vested interests and tagged , , , , . Bookmark the permalink. Leave a comment.

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