Scott, Thomas, 1947-:'The Kingdom would be richer Your Highness if Saudis paid international prices for petrol.' 23 September 2011

A Saudi official suggests to the King of Saudi Arabia that the kingdom might be richer if Saudis paid international prices for petrol but the king thinks this would be impossible because Saudis regard cheap petrol as a birthright. The official points out that 'Fonterra are getting away with it with milk pricing in New Zealand' and so the King tells the official to 'give them a call and find out how they do it.' Context: The public has been complaining about the steep price of milk which is hard in economically challenged times. In March, the Commerce Commission began investigations into whether it should make a formal inquiry into the price of milk, under Part 4 of the Commerce Act, which regulates markets with little competition and little likelihood of an increase in competition. But Fonterra has now welcomed the Commerce Commission's decision not to make an inquiry into the price of milk. The Commission is, however, still investigating claims that dairy giant Fonterra is misusing its market power.

Quantity: 1 digital cartoon(s).