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Jin Seo

BP, Shell raided over alleged price fixing | Business News | Business and Finance News ... - 2 views

www.heraldsun.com.au/...story-fndgp8b1-1226642946822

oil pricefixing theoryofthefirm oligopolies

shared by Jin Seo on 31 May 13 - No Cached
  • crude oil, refined oil products and biofuels purchases and sales
    • Jin Seo
      Jin Seo on 31 May 13
       
      Oil - one of the most inelastic good   
  • Statoil
  • ...9 more annotations...
  • Platts
  • final consumers
  • colluded
  • prevented others from participating in the price assessment process, with a view to distorting published prices.
  • price fixing
  • cartels
    • Jin Seo
      Jin Seo on 31 May 13
       
      formal collusion; cartels are group of competitive firms colluding together to act as a monopoly - why is a monopoly market structure attractive to producers? 
  • High oil prices are crushing families across Britain. Motorists are being taken for a very expensive ride.''
    • Jin Seo
      Jin Seo on 31 May 13
       
      reasons why oligopolies are strictly monitored 
    • Jin Seo
      Jin Seo on 31 May 13
       
      and also why oligopolies want to collude to become a monopoly 
  • Libor scandal
    • Jin Seo
      Jin Seo on 31 May 13
       
      largest price fixing scandal
  • transparency.''
    • Jin Seo
      Jin Seo on 31 May 13
       
      what would the evaluation contain?  - is it good or bad? (for consumers (benefits of colluding) and producers)  - BP oil competition = shows how having contest ability may be dangerous  - what can the governments do to stop collusion from happening? 
  • Jin Seo on 31 May 13
     
    oil price fixing in the EU
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