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PM calls for new oil deal
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Oil producing countries must conclude a new deal to stop the soaring cost of energy prices, the prime minister has said.
Speaking at an energy summit in Saudi Arabia, Gordon Brown said the world was facing a big oil shock and measures needed to be taken to reduce prices.
The prime minister vowed to tackle protectionism in order to impose "greater certainty" as opposed to unpredictability in prices.
Calling for greater measures to guarantee market efficiency, he vowed: "Wherever there are shortages and gaps, they [will be] addressed."
The Independent reported this month that oil prices have quadrupled in four years and the global economy has to adjust to deal with the soaring coast of the commodity.
Meanwhile, mySupermarket.co.uk revealed last week those struggling with a
debt problem as the cost of living soars are being hit by a "double whammy" of short supply and increased demand for food.
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Created on 23/06/2008 16:15:09
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