Fuel Consumption

The European Union’s 27 members accounted for 16 percent of global oil demand in 2010, according to BP Statistical Review of World Energy, released on June 8. The U.S. was the
world’s biggest oil-consuming country in 2010, responsible for 21 percent of global oil use, BP figures show.
U.S. household confidence improved last week to a four-year high as more Americans said the economy was improving. The WotldWatch was minus 36.7 in the period ended March 4, the highest level since April 2008, up from minus 38.8 in the prior period. The gauge on the state of the economy reached a one-year high, while the buying-climate measure climbed to a level last exceeded in December 2009.
Shipments from Iran have dropped because sanctions are preventing the Islamic republic from selling oil, half of the tankers booked to load at the country’s largest terminal last month didn’t complete their voyages, according to brokers, company officials and ship-tracking data.

Iran, the second-biggest producer in the Organization of Petroleum Exporting Countries, pumped 3.45 million barrels a day last month, the lowest level since September 2002, according to data compiled by Bloomberg. The U.S. and European countries have imposed additional sanctions on Iran in the past few months to pressure the country into halting its nuclear program.
U.S. lawmakers are targeting global insurers as they seek to expand sanctions aimed at crippling Iran’s economy and forcing its leaders to make concessions involving the country’s
disputed nuclear program.

The Scheme

WorldWatch chief analyst reports that once more Portugal places its bail-out plan in serious danger of not being able to carry out the austerity plan, Portugal continue to have one of the most expensive final consumer prices for the motorist at the filing station.
This attitude by the petrol companies Galp, BP, Repsol and Cepsa will affect Portugals austerity plan, as consumer demand will continue to drop as well as Tax revenue derived from petrol products.
This year (2012) prices have increased twice, and a announcement has been issued by the press that next week consumer prices will increase by another staggering three cents per liter.
The new elected government seems to be as arrogant as the last socialist government regarding this issue as there is no control as to the steps taken by these energy companies.

All these companies have a monopoly in price fixing as can be seen, this price fixing is not allowed by E.U. law, however Brussels nothing does to avoid such situations allowing less honest companies and governments to run free.
Portugal is in a recession that will be aggravated even further by rising prices which include, coffee, soft drinks, electricity, water and the announced increase in the price of VAT to 23%.

U.S.,RATED AAA

Oil continued its declined since Thursday 05-08-2011 in New York, its longest losing streak since May, as investors bet that signs of a slowing U.S. and Europe economy indicate fuel demand will falter as these crude-consuming nations will see the demand fall .
This morning Brent Crude Oil was trading at $99.06 a barrel, WorldWatch predicts oil will average $100 a barrel this year. Prices could come back to the $90 level, if not more.

Oil is extending losses in New York after dropping below the 200-day moving average yesterday, a long-term support level at about $95 a barrel, according to data compiled by WorldWatch. A breach of technical support usually means prices will continue to fall. Front-month futures may decline to the lower Bollinger Band, around $91.11 today.

As Brent Crude Oil continues to reflect the decline in demand, there is one exception...Portugal..final consumer price for a litre of Regular 95 Octane continues a staggering 1.619 € per liter.
This speculation is done by the petrol companies Galp, Repsol, BP and Cepsa, they all practice the same prices, in the last week
of July consumer prices were increased by more than 8 cents per liter with no justification, now today they announced that the consumer price may be deceased by 2 cents per liter.
This attitude is ridiculous as Portugal faces severe economical hardships and a possible social unrest if this monopoly in price fixing is continued.

OPEC’s failure

Oil rose to a one-week high in New York after OPEC failed to reach an agreement on production targets for the first time in at least 20 years at its meeting in Vienna 08-06-2011.
Futures gained 1.7 percent after Mohammad Aliabadi, the acting Iranian oil minister and OPEC president, said the group will maintain current output for now. A Gulf delegate said yesterday that the Organization of Petroleum Exporting Countries was going to increase quotas.
The market is higher because OPEC failed to raise production ,we seeing the big reaction to the OPEC news because a quota increase was expected.

Crude oil for July delivery rose $1.65 to $100.74 a barrel on the New York Mercantile Exchange, the highest settlement since May 31. Prices are up 40 percent in the past year.
Brent crude oil for July delivery climbed $1.07, or 0.9 percent, to end the session at $117.85 a barrel on the London- based ICE Futures Europe exchange. It was the highest settlement since May 4.
Saudi Arabian Oil Minister Ali Al-Naimi, representing OPEC’s biggest producer, said his country is ready to supply whatever the market needs.
According to WorldWatch, OPEC has sentenced its own fate, as this failure in production targets will cause a further 3% in crude demand.

Saudi Arabia, together with Kuwait, Qatar and the United Arab Emirates, were ready to supply more oil to the market, al- Naimi said. The four nations proposed a 1.5 million-barrel-a-day increase from the current 28.8 million. That would have meant output of 30.3 million barrels a day.
Libya, Angola, Ecuador, Algeria, Iran and Venezuela were opposed to an increase, as these Nations have serious social and economical problems they also have limited spare capacity
More oil is going to quietly come out of the Gulf, they are concerned about rising demand in the third and fourth quarters and don’t want to see the market starved and see prices rise to such a high level that they hurt economic growth.

JPMorgan analysts are also SPECULATING that oil prices will rise, this is what the Bank needs to meet its financial obligations and cover up its bad credit defecit.
The knee-jerk reaction to the OPEC news is probably a little overdone, it does show that there’s dissension among the members. We’re trading more on the political implications of the meeting than any changes in physical oil supply.

OPEC’s failure to reach a decision on targets shows Iran has increased its stature within the group, according to Petromatrix GmbH. Iran has replaced Saudi Arabia as the most influential member.
The 11 members with quotas, all except Iraq, produced 26.22 million barrels a day last month, 1.375 million above their target, according to WorldWatch News estimates.

OPEC has been operating well above their allocation levels for some time, over 1.3 million barrels a day above, even with Libya production off the market, the allocation levels have had little connection to actual production levels for some time.

Oil in New York has traded between $95.02 and $104.60 since May 9..

Libyan crisis

Saudi Arabia has raised oil output about eight percent to above nine million barrels per day (bpd) to make up for a near halt in Libyan exports, an industry source said, helping prices fall further from the highest since 2008.

Some European oil firms said they were looking to buy more crude from Iran and the West’s energy watchdog, the International Energy Agency, said on Friday there was no need for an immediate strategic stock release.

The Saudi move follows reassurances from Riyadh earlier in the week that it was prepared to act to prevent shortages as a result of the rebellion in Libya that has sharply reduced the fellow OPEC producer’s 1.3 million bpd of exports.

“We have started producing over 9 million barrels per day. We have a lot of production capacity,” the industry source familiar with Saudi production told Reuters. That would be up more than 700,000 bpd from January.

Top exporter Saudi Arabia is the only country able to pump large amounts of extra oil at short notice. It sometimes steps in unilaterally to meet shortages or when it feels prices have risen to levels that may threaten economic growth or oil demand.

The Organization of the Petroleum Exporting Countries has resisted calls for a formal increase in output and says it does not plan to meet until June.

Iran’s deputy Oil Minister Ahmad Ghalebani told the semi-official Mehr news agency he saw no need for an emergency OPEC meeting and that Iran would continue to comply with OPEC policy on quotas.

“There is no shortage of oil in the global crude market stemming from political turmoil in Libya and other North African countries that requires an increase of Iran’s oil exports,” Ghalebani told Mehr.

Brent oil prices jumped close to $120 a barrel on Thursday, the highest since August 2008.

News of Saudi Arabia’s higher output came as disruption to Libyan supplies worsened. Libya is the world’s 12th-largest oil exporter and a source of high-quality crude oil, most of which flows to Europe.

Libya’s crude exports have almost halted because of reduced production, a lack of staff at ports and security concerns, industry sources told Reuters earlier on Friday.

Other oil producers may also see increased demand as a result of the Libyan crisis.

Italy’s third-largest oil refiner, Saras, is looking to Russia, Iran and other Caspian countries to replace crude oil shipments from Libya, an executive said on Friday.

The International Energy Agency, which represents consumer countries, has said between 500,000 bpd and 750,000 bpd of crude, less than 1 percent of global daily consumption, had been removed “at present” from the market.

European oil companies have not taken up Saudi Arabia’s offer of more supplies yet, industry sources have said, with some saying Saudi crude would not be a suitable substitute for Libyan oil at their refineries.

In addition, they are not in need of extra supplies for now. The IEA said on Friday European refiners threatened by a shortfall had covered their needs well into March

Middle East’s oil rich economies

Some of the biggest customers of OPEC may continue to wallow in recession into 2010, most of them are in Europe, such as Portugal were the petrol companies Galp, Repsol, BP, Cepsa including the very unpopular government increase final consumer prices twice a week, sending this country into a ever deeper recession as demand for petrol will fall this year alone by 9%,on the other hand the oil-producing nations of the Persian Gulf are again luring foreign investment and looking for places to park their own wealth.

Crude prices that have stabilized above $87 a barrel mean the Middle East’s oil-rich economies are likely to pull out of the global financial crisis sooner than the rest of the world. Saudi Arabia, the largest Arab economy and the world’s biggest oil exporter, is attracting renewed interest from investors including leveraged-buyout firm KKR & Co. Qatar and Abu Dhabi have returned to international capital markets.

Crude oil traded at $85.44 a barrel on the New York Mercantile Exchange at 10:33 a.m. in Singapore Prices will remain near $88 for the rest of this year and top $84 next year, according to the median forecast of analysts surveyed by WorldWatch.

While that’s still less than half the record $147.27 a barrel reached last July 2008, savings built up during the boom from 2003 to 2010 are providing a cushion for most of the Gulf’s petroleum producers to get them through the worst recession since World War II.

Saudi Arabia’s economy will shrink 0.9 percent this year, according to the International Monetary Fund’s January forecast, while the United Arab Emirates is projected to decline 0.6 percent and Kuwait 1.1 percent. By comparison, the U.S. may continue to contract 1.8 percent, the European Union 2-2 percent and Japan 3.2 percent.

If crude prices remain below $85 the demand will most likely stabilize and the Gulf oil states can resume expanding, with Saudi Arabia growing 2.9 percent and Kuwait 2.4 percent, however if prices go beyond $85 then world crude demand will fall 9% this year alone.

CRUDE PRICES.

Portugal has one of the most expensive final consumer price for petrol (gas-US) in the world.

The prices are inflated on a weekly basis by the four companies present.Galp, BP, Repsol and Cepsa.

Galp Energy increased this week diesel by 3 cents (1,348), Regular 95
Octane by 2 cents (1,533)...per litre.
Cepsa increased this week diesel by 1.8 cents (1,329), Regular 95 Octane
by 1.7 cents (1,522)...per litre.
BP increased this week diesel by 1 cents (1,329), Regular 95 Octane by 0.4
cents (1,529)...per litre.
Repsol increased this week diesel by 2 cents (1,334), Regular 95 Octane
by 2 cents (1,529)...per litre.

With this weeks increase petrol has reached the most expensive price per litre ever in Portugal, passing the historic mark of July 2008, 1,525 eurosper litre...back then the crude price was $147 per barril not at todsaysprice of $91 per barril...

This type of price fixing is not allowed by EEC members but corruption is like a spiders web, reaches all governing bodies.
These prices are higher than the ones practiced in 2008, this and the defice of Portugal will sink even further the consumer spending, demand for petrol will have a decline in the first quarter of 2011 of 24%, according to chief analyst WorldWatch Portugal will enter a recession with possible social unrest caused by the increase in fuel, energy,medical care,education,unemployment (above 11%) and the reduction of public servants wages by 5%.

Low Cost Petrol

As crude prices continue around the $73 per barril it has become aparent that price fixing is one of the hotest topics in one of Europes oldest economies...PORTUGAL
The involved companies Galp, BP, Repsol and Cepsa practice inflated consumer prices for
petrol, actually PORTUGAL is the first country in Europe to now have low cost petrol...
Galp has opened the first low cost petrol station in Setubal, however they forgot to inform the public of the specification of the petrol, they have always pressured the public and other filling stations that sell cheaper petrol as being harmfull for the engines, but now they have adopted the same strategy low cost filling stations...with one exception, they continue
to have inflated prices.

EUROPE BAILOUT.

WorldWatch has confirmed that the final consumer price for petrol (gas) has
once more increased in one of Europes oldest economies but also one of the
most monopolized economies in Europe...Portugal.
The final consumer price continues inflated across the entire range ...

Galp 1,419€ per litre for regular 95 Octane.
BP 1,419€ per litre for regular 95 Octane.
Repsol 1,419€ per litre for regular 95 Octane.
Cepsa 1,419€ per litre for regular 95 Octane.

The price fixing is identical in 97% of the petrol stations nationwide,
these prices are combined, planned and executed, in the highways prices
are even more expensive reaching three cents more per litre above the
maximum nationwide.

No wonder the energy companies always manage to have record profit earnings
across the board, we have the example now with the BP's oil spill in the US
.

THE CHINA CRASH !!!

WorldWatch warns...China's economic growth continued to ease in July,signaling that the world's third-largest economy may need to loosen it's policies to avoid a crash landing.

Chinese industrial production in July rose 13.4% from a year ago, but the growth rate declined for fifth straight month, according to data released wednesday by China's government.
The slowdown in activity is linked to the government's campaigning to end property market speculation, the Chinese government is trying to introduce price caps without hindering the construction industry, a key driver of growth and employment. But this will lower industrial output rates .

The latest data suggests that manufacturing firms that supply materials like copper and steel that goes into building construction informed that work will tail off sharply toward the end of the year.
Retail sales in China also weakened in July, the government said. Sales rose 17.9% from a year ago, but that's down from 18.2% annual growth reached during the first half of the year.

SO A POSSIBLE CHINA CRASH COULD BE AROUND THE BEND..

Deep-Water Pause

A list of 33 deep-water Gulf of Mexico floating rigs affected by the Obama administration’s drilling moratorium as of May 26, according to an official with the Minerals Management Service:

Royal Dutch Shell Plc (5 rigs)
Eni SpA (3)
Marathon Oil Corp. (3)
Anadarko Petroleum Corp. (3)
Statoil ASA (2)
Chevron Corp. (2)
Noble Corp. (2)
Devon Energy Corp. (2)
BP Plc (2)
BHP Billiton Ltd. (2)
Hess Corp. (1)
LLOG Exploration Co. (1)
Walter Energy Inc. (1)
Petroleo Brasileiro SA (1)
ATP Oil & Gas Corp. (1)
Newfield Exploration Co. (1)
Nexen Inc. (1)

The downgrading of Portugal

As announced by WorldWatch the euro weakened against 14 of its 16 most-traded peers in New York.

The MSCI World Index of stocks in 23 developed nations slid 0.6 percent and the Standard & Poor’s 500 Index fell 0.2 percent, retreating from an 18-month high. The Reuters/Jefferies CRB Index of commodities fell to the lowest level since Feb. 12 as oil slid 1.5 percent, copper dropped 1 percent and lead tumbled 2.8 percent. The yield on the benchmark 10-year Treasury note rose 7 basis points to 3.76 percent.

The euro slid to a 10-month low against the dollar, while stocks, commodities and Treasuries also retreated, as concern grew that Greece may default and Portugal’s debt was downgraded by Fitch Ratings.

Greece is going to default at some point, and Europe’s failure to answer that challenge will hurt the common currency, If Europe can’t solve a small problem like this, how on earth is it going to solve the larger problem, which is the euro doesn’t work.

The S&P 500 fell for the first time in three days after closing at the highest level since September 2008 yesterday. Concern over Portugal and Greece overshadowed a third straight monthly increase in orders for durable goods, a sign the manufacturing rebound will keep propelling the U.S. recovery. European reports showed that the region’s services and manufacturing grew at the fastest pace since August 2007 and German business confidence increased.
The downgrading of Portugal is a consequence of the inflated petrol prices practiced by Galp,BP, Repsol and Cepsa and if the situation is not corrected by the government then a further downgrading is possible.

Crude oil slid 1.5 percent to $80.67 a barrel after a 7.5 million-barrel increase in U.S. inventories reported yesterday by the American Petroleum Institute. The euro declined as much as 1.2 percent to $1.3333, the lowest level since May 2009.

While most European stock gauges declined, Greece’s ASE Index rose 0.9 percent. Portugal’s PSI-20 Index slumped 1.3 percent, the most in a month...

Main Topic

As http://so-buracos.blogspot.com informed last week, the price of petrol for the motorist in Portugal this week has once more increased...
The price per litre has passed the 1,40 Euro for the first time in 18 months, Portugal continues to have one of the highest consumer price for petrol in the world ...
The companies involved in this squeme are, Galp 1,409 euro, Cepsa 1,409 euro, BP 1,419 euro, Repsol 1,414 euro, these prices are for regular 95 Octane.

95 Octane. (per litre)
Galp 1,409
Cepsa 1,409
BP 1,419
Repsol 1,414

DIESEL (per litre)
Galp 1,144
Cepsa 1,147
BP 1,155
Repsol 1,154

A year ago to fill a normal 50 litre car tank we paid 57,85 euros, today the same tank will cost 70,95 euros...
These prices will shortly start a cascade of higher prices in all consumer goods,services and retail prices, according to WorldWatch Portugal faces the risk of becoming bogged down in a even worse economical situatioon than that of Greece.
These petrol consumer prices are equivalent to when crude was at a record of $147 per barril...
Besides the directly involved companies the government is also to blame for the inflated prices, the revenue in Tax obtained is huge and according to local newspapers corruption is a main topic for most politicians and government company CEO.

The Monopoly

WorldWatch informs that the monopoly in petrol price fixing in one of the worlds oldest economies continues. During this month alone final consumer prices at the pump for motorits have increased by more than five cents per litre.
Now as crude prices have declined these same companies Galp, Cepsa, BP and Repsol decided to once more mislead the public and decreased the
petrol price, but only by one cent and only for diesel products, 95 regular Octane maintains the same inflated price of 1,349€ per litre.
Its due to these attitude that Portugal has a recession gripped economy..
Medical health care appauling..
Education outdated and very esxpensive..
Social services at the edge of collapse..
Corruption according to local newspapers is the only "service " booming..
Unemployment passes the 11% mark..
These are the good news possible related to Portugal....

The scheme

As WorldWatch forecast on previous posts the crude price is speculative, both by petrol companies and less honest governments as is the case with Portugal were once more final consumer prices at the pump have become more expensive.
The companies involved in this scam are,Galp, Cepsa, BP e Repsol, last week alone these same companies increased final consumer price three days in a row, now this week they have once more increased consumer final prices at the pump by...

Galp increased regular 95 Octane by 1, 5 cents per litre; consumer price is now a staggering 1,319 euros per litre.
Cepsa increased regular 95 Octane by 1 cent per litre; consumer price is now a staggering 1,318 euros per litre.
BP increased regular 95 Octane by 1 cent per litre; consumer price is now a staggering 1,319 euros per litre.
Repsol increased regular 95 Octane by 1 cent per litre; consumer price is now a staggering 1,319 euros per litre.

These companies all practice the same final price with no explanation given to the public as to why...
As mentioned in previous WorldWatch reports the recession will continue as long as these companies and governments continue to use lame excuses to inflate final consumer prices. Regular 95 Octane should have a consumer price of 1,113 euros per litre. At $80 a barrel, Portugal continues to have one of the most expensive petrol prices in the world...

Falling Dollar...

Oil prices bounced back below $71 on Wednesday as the dollar fell to its lowest level against the euro in more than a year. The euro hit $1.4821 Tuesday, its highest level since September 2008.
Crude is priced in dollars so it becomes cheaper when the dollar falls. Some investors also use commodities such as oil and gold as a hedge against inflation and dollar weakness. The weaker dollar also pushed prices higher for gasoline, heating oil, gold and other commodities. If the dollar continues to get fall like this it will be a threat to the economic recovery, both in Europe and the US.
To combat the worst recession since the 1930s, the US Federal Reserve policy makers have kept interest rates at a record low -- near zero -- and started an assortment of programs designed to encourage borrowing. Critics have complained that the Fed appears to be printing money to pay for the government's spending binge, and that hurts the dollar.
The Fed is expected to keep interest rates low at its meeting this week. And to avoid unleashing inflation later, policymakers are likely to consider ways to rein in programs designed to keep mortgage rates down and get banks to lend more freely. Demand and consumption of crude remains weak with high unemployment and the economy pushing down demand to levels that go back to 2004 and 2005, the US weekly petroleum inventory report indicates that crude oil stocks, gasoline and distillates used to make heating oil and diesel fuel rose in the week ended Friday.
However Portugal continues to have one of the most expensive final consumer price for petrol in the world, the companies Galp, Cepsa, BP and Repsol have once more tried to fool the public by lowering the consumer price in some cases as little as ... 0,4 cents !!!!
This is ridiculous compared to the 3 cents or even 4 cents that they normally increase ... the prices are the same in all filling stations, this shows that in fact there is a monopoly in price fixing with the approvement of the government..

Prices for regular 95 Octane.. (23-09-2009)
Galp 1,274 euro
Cepsa 1,278 euro
BP 1,284 euro
Repsol 1,284 euro

The crude price for the motorist in Portugal is not $71 per barril but rather a staggering $107 per barril !!!

The biggest fraud in Europe

The biggest fraud ever seen and approved by a government happens on a daily basis in one of Europe’s oldest economies...PORTUGAL...
Every excuses is used and openly practiced to increase petrol prices, we have the latest example, were prices have increased by more than nine cents just this month., were the Galp CEO openly states that the consumer price will in future keep rising, one day later the economy minister states the same, the more expensive the energy becomes, the more revenue the fraudulent government and involved companies have.

Oil prices have plunged from a record $147.27 in mid-July 2008. However this decrease in crude prices does not affect Portugal...were prices continue to be one of the highest in the world...Oil consumption in Portugal last year dropped more than 14% and all tendencies indicate that it will continue!!! This month consumer prices have once more increased by more than nine cents in just one week!!! this dishonest attitude is lead by the so called national oil company Galp Energia...there is no reason for the increase except greed, the Portuguese Government is also involved in this fraudulent scheme as the more the companies charge, the more taxes the government obtains... This scheme is called "Robin Hood Tax" the more you charge the more Tax I (government) have... As is also tradition one company increases all others follow behind, the prices are also certainly combined between all involved, since they are the same... This arrogant attitude by the oil companies and government will not be forgotten as Portugal will shortly enter a period of elections for a new government, the population will certainly have the opportunity to express their rights….
WorldWatch has received information that there is a civil movement entitled "NÃO AO VOTO" that has already support from various regions of Portugal and over Fourteen thousand supporters who have confirmed that their vote is not for sale.
As long as this fraud continues the economy and Portugal have their destiny crossed. Its time the Portuguese people stand up and fight for the values of the 25th Aril 1974 revolution...
One for all...All for one...

The end is near..

Portugal ... one of Europes oldest nation ,,, however, has one of Europes highest final consumer price for almost everything , including the price consumers pay for energy (gasoline/petrol), inflation, recession the economy, all in ruins... the government and energy companies like Galp, BP, Repsol and Cepsa are the cancer of Portugal.These companies continuously mislead the public, for the past week petrol prices at the pump have become cheaper ... 0,5 cents or 0.9 cents, ridiculous, when prices go up the opposite happens , they are increased never less than 2 cents per litre !!! , the consumer price should be 0,98€ per litre !!! (crude at 70$ per barril)95 Octane regular price per litre BP 1,289 € , the consumer price should be 1,010€ per litre !!! (crude at 70$ per barril)

WorldWatch has received information that there is a civil movement entitled " NÃO AO VOTO" that has already support from various regions of Portugal and over Fourteen thousand supporters who have confirmed that their vote is not for sale.

Undermined Economy

According to WorldWatch the world recession is far from over, the latest market crude price drop of more than 12% is a clear indicator on how fragile any world crude increase may be.
OPEC and other crude producers including governments should take measures to stabalize crude prices around $63 per barril or the consequence for producers , traders and speculators will be critical.
Governments should also curtail internal crude companies to avoid inflated final consumer prices, if these measures are not adpoted there will be a decrease in crude demand of 8% by the end of the second quarter.
There are several governments working with oil companies that continue to practice inflated consumer prices, such as...
WorldWatch have made a significant economical analysis of the present financial and productive effort by one of Europe’s oldest economies ...Portugal
Its with no surprise that the government lost the elections for the European parliament on the 07-06-2009, in just over two months time three will be general elections and this government will certainly once again loose.
This prime minister has an arrogant and biased attitude but the real cause they will loose is the flagrant abuse of the petrol companies like Galp, BP, Repsol and Cepsa. With crude prices around the $60 per barril the price paid by consumers in Portugal is equivalent to $90 per barril !!!
These companies have undertaken to increase on a weekly basis the final consumer price for petrol for the motorist, sometimes twice a week!!!
This abuse has the approval of the government. The more the companies charge the more Tax the government makes.
Portugal has one of the highest petrol consumer prices in the world, this alone will further undermine the economy as the recession will worsen and demand for petrol will decrease by further7%
Consumer confidence will reach an all time low, “the population now have the opportunity to choose a new government, one that works for the people and not the petrol companies".
It has been suggested by some sectors of the economy that the best way to avoid these corrupt public servants is a total boycott of any election, until this situation is solved and the petrol consumer prices return to acceptable values.
WorldWatch has received information that there is a civil movement entitled " NÃO AO VOTO" that has already support from various regions of Portugal and over ten thousand supporters who have confirmed that their vote is not for sale.
This explains why over 65% of the voters did not vote in the last elections for the European parliament, we interviewed in Lisbon some Portuguese and the
disappointment was the same as expressed by Mr. Santos a public servant " we are tired of the whole Socrates attitude, Galp and others keep increasing the petrol, every week, up, up, up, this must stop now, they all increase at the same time, the same amount, this is outrageous"

If Socrates and company want to remain in power then a positive attitude must be taken regarding the petrol companies Galp, BP, Repsol and Cepsa.

WorldWatch Analyst..Klipriver

PORTUGAL

WorldWatch have made a significant economical analysis of the present financial and productive effort by one of Europe’s oldest economies ...Portugal
Its with no surprise that the government lost the elections for the European parliament on the 07-06-2009, in just over two months time three will be general elections and this government will certainly once again loose.
This prime minister has an arrogant and biased attitude but the real cause they will loose is the flagrant abuse of the petrol companies like Galp, BP, Repsol and Cepsa.
These companies have undertaken to increase on a weekly basis the final consumer price for petrol for the motorist, sometimes twice a week!!!
This abuse has the approval of the government. The more the companies charge the more Tax the government makes.
Portugal has one of the highest petrol consumer prices in the world, this alone will further undermine the economy as the recession will worsen and demand for petrol will decrease by further 6%
Consumer confidence will reach an all time low, “the population now have the opportunity to choose a new government, one that works for the people and not the petrol companies".
It has been suggested by some sectors of the economy that the best way to avoid these corrupt public servants is a total boycott of any election, until this situation is solved and the petrol consumer prices return to acceptable values.
WorldWatch has received information that there is a civil movement entitled " NÃO AO VOTO" that has already support from various regions of Portugal and over ten thousand supporters who have confirmed that their vote is not for sale.
This explains why over 65% of the voters did not vote in the last elections for the European parliament, we interviewed in Lisbon some Portuguese and the
disappointment was the same as expressed by Mr. Santos a public servant " we are tired of the whole Socrates attitude, Galp and others keep increasing the petrol, every week, up, up, up, this must stop now, they all increase at the same time, the same amount, this is outrageous"

If Socrates and company want to remain in power then a positive attitude must be taken regarding the petrol companies Galp, BP, Repsol and Cepsa.

WorldWatch Analyst..Klipriver