[Peakoil] News items from Canberra Times Fri, 4 Aug 2006

[Antony Barry]

"Call to beef up ACVC's power on petrol prices" by Andrew Fraser p.2

Call from members of major parties for more power to ACCC on petrol  
prices. PM says petrol prices his greatest worry. Victorian  
Automotive Chamber of Commerce says Government fleecing motorists $2b  
pa in GST."

PM - http://www.abc.net.au/lateline/content/2006/s1703364.htm

Subsidies for biofuels - http://www.theaustralian.news.com.au/story/ 
0,20867,20012753-2702,00.html

Political comment - http://www.news.com.au/heraldsun/story/ 
0,21985,20013480-5006029,00.html

ACCC comment - http://www.theage.com.au/news/National/No-evidence-of- 
fuel-collusion-ACCC/2006/08/03/1154198251877.html

Comment: If prices continue to go up this is going to be a major  
political issue. Calls to cut excise or GST on petrol fly in the face  
of other calls for a carbon tax which has to hit petrol prices. For  
the government, pushing greater powers on the ACCC is interfering  
with the market.
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"Car sales dip as fuel price, interest rates take their toll" by  
Kanchan Dutt p.2

Sales of new vehicles fell 3.1% for the year. Large cars dropped 22%.  
Small cars went up 21.4%

http://www.theage.com.au/news/national/size-matters-small-ones-give- 
more-bang-for-a-buck/2006/08/03/1154198268209.html

http://www.news.com.au/couriermail/story/0,23739,20013562-3102,00.html

Comment: A clear market reaction. As prices go higher multiple cars  
families will drop back to one and driving will be restricted. The  
peak is getting closer.
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