In the Loop: 31/09/08

Petrol price to drivers still not falling as fast as a barrel of oil 31/10/08
“The price of petrol at the pump is not falling as fast as the price of oil from peak levels over the summer, according to Guardian analysis.

The average pump price is falling by about a penny every five days but still has 5.8p a litre to drop if it is to catch up with recent sharp declines in the price of oil.” [Guardian]

Barclays raises more than £7bn from Middle East investors 31/10/08
“Barclays is raising up to £7.3bn from Middle East investors, who could end up owning more than a third of the UK's second largest bank. The move allows the bank to strengthen its balance sheet without taking help from the taxpayer.

The cash injection is coming from the royal families of Abu Dhabi and Qatar, who have both agreed to pump billions into Barclays to bolster its capital ratios. The Qataris, who already own a significant shareholding in Barclays, are providing up to £2.3bn. Once the deal goes through they will own up to 15.5% of the bank.” [Guardian]

People-power a step closer in energy bill 31/10/08
“The prospect of households with wind turbines and solar panels being able to sell power back to the national grid has come a step closer after the government tabled an amendment to a bill that would allow people to generate enough power to serve a community of more than 1,000 people.

The government said 10 days ago it was keen to get the proposal into the energy bill after facing down opposition from power companies concerned that allowing individuals and communities the chance to profit from energy creation significantly altered the market. The measure will be debated in the Lords next week.” [Guardian]

Click here to read more information on Mr Grimsdale, King Heron and Mobius