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IPFS News Link • Energy

UK eyes rationing: Gas price expected to hit $13 gallon in 2011

• Terrence Aym
Amidst rising fears of a return to the devastating 1970s "stagflation" economy and an increasing dearth of resources, the UK has moved to a series of rationing plans. The first such draconian plan affected the British National Health Service late in 2010. Whole categories of health services were axed or severely reduced. Availability of some critical services were being delayed or simply dropped. Other plans to limit electrical usage and heating oil to some communities has come on the heels of the worst winter the UK's seen in more than 150 years. Now the government is seriously considering rationing gasoline through a new duty tax. Yet the authorities are worried about some analyst's projections that the cost of fuel could reach the dizzying heights of 13 US dollars per gallon before the end of 2011.