Oil is a commodity - the more people want it the more the price rises. China etc will see to that in the meantime. There is plenty of oil, just that it is costly for the oil companies to get at. Perhaps now they'll start drilling.
Biggest winner in all of this is HM Government, as the tax on petrol is @ 80%. This of course is the vast bulk of the price. HMG are hardly going to complain as this is a nice little earner for them, the more so as the price rises.
Of course, they could bring this percentage down to maintain the tax take in £s at a constant, and yet still very high level, but being the wastrels they are in spending our hard earned, this is hardly likely.
In one sense, whoever voted for this bunch of incompetents in HMG is to blame. Certainly voting Tory would not change much either, but Labour is traditionally the party of high tax, and as such, this situation is more likely under their administration.
