BP & Shell offices raided over oil price rigging

The video discusses the investigation of oil companies Shell, BP, and Statoil by the European Commission for alleged price fixing. It outlines the potential legal consequences, including imprisonment and fines, if the allegations are proven. The video also reviews the steady rise in petrol prices over the past decade and the current investigations into possible price manipulation. Despite previous inquiries ruling out price fixing, the European Commission is now involved, highlighting regulatory challenges and public concerns.

What is the primary role of the European Commission in the context of the oil companies' investigation?

• To investigate and enforce competition laws

• To promote oil consumption

• To provide financial aid to oil companies

• To set new oil prices

How has the price of petrol changed over the last decade?

• It has fluctuated randomly

• It has increased steadily

• It has remained stable

• It has decreased significantly

What action did the Office of Fair Trading take regarding the price fixing allegations?

• They ruled out price fixing

• They confirmed price fixing

• They imposed fines on the companies

• They ignored the allegations

What criticism is directed at the regulatory bodies like the FSA?

• They acted too quickly

• They were too lenient with fines

• They were inactive and slow to respond

• They provided false information

What is the current status of the companies involved in the investigation?

• They have been found guilty

• They have been fined

• They are still under investigation

• They have been cleared of all charges