Please let me know when Sir Beer Starmer is going to destroy the oil companies. I need to get my Pension funds out of them before the i**** ruins them. As I suspect do many people.
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The profits are linked to a shortage of oil. Oil was cheap during the presidency of Donald Trump, where the price per barrel ranged from U$25 to U$45.
We are all being asked to use less fuel, so that may be one factor persuading users in the right direction ? I won't comment about Trump, but I suspect many of us think he was a sad waste of 4 years. I just hope he doesn't have a comeback, but his electorate is certainly dumb enough.
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When I started driving in 1992 petrol was 49p a litre. It doubled to £1 in 8 years.
22 years from that its only gone up 60p in all that time.
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My first car was bought in 1966 - 4shillings & 8d (24p) for a GALLON for 4 star
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Why focus only on the historic price of petrol going back 30-60 years. So much else has changed it is irrelevant - eg:
- a typical mid range hatch a will do ~50mpg. Now much better equipped and with much more performance, a comparable car in decades past may have done 30mpg.
- lots of other purchases have gone down in price - TVs, budget air fares, food costs, consumer electronics, white goods, phone costs etc
- others have gone up faster - house prices, old masters, etc
Also bear in mind pay has risen by far more than inflation - so although petrol may over some periods have increased faster than inflation, it may be slower than pay increases.
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I thought people would be happy a British company was doing well...it's what Brexit was all about ;-)
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Also bear in mind pay has risen by far more than inflation - so although petrol may over some periods have increased faster than inflation, it may be slower than pay increases.
When I passed my test in 1974 petrol was about 40 pence a gallon. Locally its 1.609 a litre at Tesco, £7.31 a gallon. That's an 18 x increase.
As a 17 year old apprentice in 1974 I was paid about £30 a week. So to keep the relationship between petrol and wages multiply that by 18 which is £540 a week.
Would a 17 year old apprentice get £540 a week these days?
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In 2000 the price of petrol was ~77p per litre. Adjusted for inflation price today would be ~£2.00. 22 years later (after the recent price rise) it is ~160p per litre - 20% less than RPI inflated cost.
In 1974 a CRT 25 inch colour TV cost ~£300. If prices since then had risen (say) 10 fold (perhaps a little like 17 year old apprentice pay) the price today would be ~£3000.
Price in ££ terms has barely changed. You now have a flat screen TV, multitudinous channels, internet connected etc etc. So in affordability terms TVs are less than 10% of what they were when you passed your test. Most folk still watched B&W in 1974!
No particular point other than by being selective with data and memory it is possible over so long a period to prove almost anything you want.
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I certainly don't subscribe to the hysteria surrounding "outrageous" profits. I don't see similar concern when these companies report losses. It is the nature of business and the opportunity for profit encourages people to invest their cash, directly or indirectly, in such firms in the hope of making a better return. Profit is the rewards for risk and if you want more of one then you run the risk of more of the other.
Labour has said that a windfall tax, last time I looked anyway, would raise £1.2 billion. By comparison the recent rise in NI will raise around £11bn (all of which is bound to be swallowed up by an unreformed NHS). In that context the windfall tax is a drop in the ocean, a relatively meaningless political gesture.
If we really wanted to be serious about freeing up cash to help "hard working families" then we would reorganise the NHS where there is a mountain of money being wasted. As a nation we spend £200bn a year on the NHS. Privatise the NHS? Certainly, and Singapore provides an excellent model of how. This encourages personal responsibility with incentives and penalties passing responsibility back to individuals. Is there a cost to you if you don't turn up for an appointment? If you smoke and drink to excess then its the NHS's problem and not yours. With increasing state-ism we absolve ourselves of personal responsibility and it is always somebody else's fault.
The NHS was bust from the day it started and represents the single biggest opportunity the country has to redirect funds. It is not just a sacred cow but a sacred, elephantine dinosaur that has become so politicised and with a momentum of its own that makes change very difficult.
This is capitalism folks, if you don't like it try socialism/communism.
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I can agree in part with a lot of what you are saying MGspannerman but "If you smoke and drink to excess then its the NHS's problem and not yours." could be extended to anyone who participates in a risky sport or pastime, drives or rides recklessly, eat an unhealthy diet or even get pregnant. The NHS picks up the pieces and aren't we lucky it does.
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The NHS is not the hospitals, doctors, nurses, managers etc. It is a commitment by the state to provide healthcare to all free at the point of use. The hospitals etc are merely the means by which the NHS is delivered.
We generally accept that large parts of healthcare delivery are through the private sector - eg: construction, manufacture of drugs and medical equipment, catering, cleaning etc. Dental, opticians, elderly care is already substantially provided.
So I see no reason why healthcare cannot be delivered by the private sector so long as it is very clear the "buck stops" with the government.
There are clear examples of failure in the public health service arising from a lack of proper governance, resistance to change and arrogant assumption they know best. To balance - they also have world leading top class capabilities.
A positive policy of transitioning (say) 15-30% of healthcare to the private sector would be healthy. They may then both learn from each other to implement best practice.
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The NHS is not the hospitals, doctors, nurses, managers etc. It is a commitment by the state to provide healthcare to all free at the point of use. The hospitals etc are merely the means by which the NHS is delivered.
We generally accept that large parts of healthcare delivery are through the private sector - eg: construction, manufacture of drugs and medical equipment, catering, cleaning etc. Dental, opticians, elderly care is already substantially provided.
So I see no reason why healthcare cannot be delivered by the private sector so long as it is very clear the "buck stops" with the government.
There are clear examples of failure in the public health service arising from a lack of proper governance, resistance to change and arrogant assumption they know best. To balance - they also have world leading top class capabilities.
A positive policy of transitioning (say) 15-30% of healthcare to the private sector would be healthy. They may then both learn from each other to implement best practice.
The problem with transferring part of any service to the private sector is that they cherry-pick the profitable parts and don't get involved in costlier aspects - the Royal Mail is a prime example, forced to continue with the universal franchise at standard price while private alternatives can charge extra for longer distance or not accept them at all.
Private healthcare providers aren't queuing up to treat long-term chronic illness patients.
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"""A positive policy of transitioning (say) 15-30% of healthcare to the private sector would be healthy. They may then both learn from each other to implement best practice.
The problem with this at the moment is that not that many consultants and GPs work solely in the private sector but feed of it by being in both camps and if things go wrong patients often end up back in the NHS. Private health care also relies a lot on agency staff which again work in both camps, Very often NHS patients go through all the diagnostics such as scans MRIs etc get the diagnosis, and are given the waiting list. They then elect for private treatment and all the scans etc are then available to the same consultants. One could argue than the NHS saves money by not performing the last stage but has incurred costs. I have nothing against this but the same consultants doctors could be performing this on the NHS and the more they devote to private clinics the more the NHS suffers a loss of staff. The way things are heading if private healthcare should expand than there would be far fewer medical staff for people who could not afford the private clinics. Have you tried getting an NHS dentist, they have nearly all gone private.
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Have you tried getting an NHS dentist, they have nearly all gone private.
They get paid more privately and get to pick and choose better patients - would you not do that if you were a dentist?
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Have you tried getting an NHS dentist, they have nearly all gone private.
They get paid more privately and get to pick and choose better patients - would you not do that if you were a dentist?
We use a non-NHS dentist who charges NHS rates - some of the private dentist charge rates are obscene.
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The NHS dentist I was trying to join wanted to see me every six months whereas the private one was happy with twelve months, so the costs were about the same for me.
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A positive policy of transitioning (say) 15-30% of healthcare to the private sector would be healthy. They may then both learn from each other to implement best practice.
That's an attractive idea, and is happening by accident or design. But I doubt if the learning actually happens - one group is trying to work within budgetary constraints, the other is looking to increase its turnover.
But I'm wary of privatising provision even when the government is paying. Especially the kind of government we have at the moment. It's pretty obvious that what they are for is finding "investment" opportunities for their clients, the owners of capital. And the private sector runs rings around government as evidenced by PPI, an invention of the Conservatives not withstanding it was raised to an art form by Labour, consequent on them hamstringing themselves by pledging to reduce waiting times while remaining within Conservative spending limits.
Running the NHS efficiently is an elusive ideal. Targets directed at governing the internal market have in many cases been counterproductive. A number of trusts employed costly 'consultants' to recode patients, especially dead ones, so they hit their measures - difficult cases were retrospectively shifted into 'palliative care' among other fiddles. GPs hit their appointment lead times by simply refusing to book anything more than 48 hours in advance, obliging patients to join a phone queue daily until they got one - within the target window. I remember Blair professing shock at this this when somebody told him live on TV, our practice had been doing it for a couple of years by then.
Private providers have the profit objective to motivate them to find efficiencies. But of course the aim of doing the best for patients at the same time creates a conflict, so you have regulation, which is always gamed as it is by the successors to nationally owned utilities for example.
Thatcher's determination to make healthcare operate like business was at odds with how it had developed as the NHS. Hospitals had in effect been run by senior medical staff, supported of course by clerical and menial oompa loompas. Professional managers were nowhere in sight. There was rationing of course which was manifest in the waiting timse for elective procedures. Decisions as to who was treated and when were made on the basis of a set of largely unwritten shared values and ethics, rather than being based on cost benefit ratios with the benefits measured in theoretical QALY's (quality adjusted life years).
The NHS is not safe in the government's hands. There is plenty of evidence that privatisation by stealth is on the agenda even if a privately operated NHS has to remain largely state funded for another decade or two..
We must remember nothing is unthinkable when there's money to be made. Thatcher's 1982 plan to introduce an insurance-funded system only foundered because of untimely leaks. Even a Labour government might not be able to stave this off without appearing to be spendthrift. Getting the electorate fixated on the idea that tax is bad plays right into creating those profit opportunities, just cut the taxes and let people choose the level of insurance they want to pay for...
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In 2000 the price of petrol was ~77p per litre. Adjusted for inflation price today would be ~£2.00. 22 years later (after the recent price rise) it is ~160p per litre - 20% less than RPI inflated cost.
Apart from the last 5 months, I wasn't aware that inflation over the past 20 years was that high, even RPI. Normally for a 2-3% inflation rate, prices double roughly every 20-25 years, which would represent a fuel price of about £1.50 or so a litre, which isn't that different from what it is now.
In 1974 a CRT 25 inch colour TV cost ~£300. If prices since then had risen (say) 10 fold (perhaps a little like 17 year old apprentice pay) the price today would be ~£3000.
Indeed. I paid all of £400 for my 23in LCD TV back in 2006. Even now, with higher prices for electronics due to the 'chip' shortages, you can pick up a comparable one (resolution-wise) for about £150.
Back then, a colour telly of that size was quite a luxury - my parents rented theirs.
Price in ££ terms has barely changed. You now have a flat screen TV, multitudinous channels, internet connected etc etc. So in affordability terms TVs are less than 10% of what they were when you passed your test. Most folk still watched B&W in 1974!
More (expensive) things for everyone to spend their hard-earned on these days. Also back then, very people owned a credit card (never mind PCP or other lines of cheap credit), which makes it very easy to spend big (including cars) without properly reaslising the long-term implications - including overborrowing to buy a home.
No particular point other than by being selective with data and memory it is possible over so long a period to prove almost anything you want.
For example, even now, food is far cheaper than it was comparatively speaking 40+ years ago.
Many people have either forgotten how to be thrifty (but still be fine otherwise) or never were taught as youngersters.
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We're not all happy about Brexit.
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