I read recently that in Venezuela the cost of petrol is about 10 cents per litre. This is because the nationalised Venezuelan oil company simply sells its output to the consumer without going through the international oil & gas markets. These markets determine commodity prices world wide and have currently inflated oil & gas prices enormously.
Why is that all gas and oil from British fields do not sell (are made to sell) their output to the UK government on a cost-plus basis rather than at these distorted international prices? If we have oil and gas then why is it that the UK is beholden to these international markets? They certainly benefit the energy companies. But not the British consumer.
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There must be some convoluted economic theory behind it. In the same way here in NZ we produce something like a 3rd of the worlds milk products, yet pay international commodity prices and beyond for a pint of milk. Madness
@strathmore , You answered your own question there Straff,
“Venezuelan state owned oil companies !”
Our oil companies are private, and so demand top dollar!!
Its called capitalism .
I believe we are part of a treaty that sets our prices to match others. It’s very little to do with being state owned or private, Venezuela just isn’t part of the treaty.
Thanks for that. As a newly sovereign nation can’t the UK simply step away from that treaty?
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@twister , Yeah, its the treaty of world marketing ! 
Probably promoted by the WEF extolling the “benefits” of the system ??
All Blox as far as lm concerned !! 
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@strathmore , Newly soveriegn Uk ?? Youve been in La belle france too long
me thinks ??
You did mention the phrase " state owned" in your post about venezuela ?
I thought the principle joy of leaving the EU was to re-establish sovereignty. Did I misunderstand?
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The UK government sold licenses to various private companies to extract oil and/or gas. As a result the UK must buy oil/gas from these companies who can and do charge market rates.
That would get my vote
Then the only option is a windfall tax on these companies, surely?
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Well I certainly believe so. Indeed the proposal to divert millions of pounds of tax payers money to assist those in need is just a sick and very unfunny joke.