Daily Archives: June 21, 2008

Gordon Brown was physically in Brussels yesterday. But it was clear that mentally he was already travelling to the emergency oil summit which is taking place in Saudi Arabia tomorrow.

At his closing Brussels press conference he kept repeating a single number – $3 trillion. This – Brown claims – is the amount that oil consuming countires have transferred to oil-producing countries as a result of the recent spike in oil prices. As the FT reports today, that is causing huge budgetary and political strains in many consuming countries. Read more