imlach

PS Basic economics.

There is less oil on the market, therefore prices go up. Supply & demand. Traders are also profiting from fear......

lightning101

http://www.theaa.com/onlinenews/alla...anuary2005.doc



from the AA

ozzy

http://news.bbc.co.uk/1/hi/business/4207492.stm

There is only less US oil on the market. It's the price of US crude oil that's going up. If we don't buy that, why does our local costs go up too?

There's probably a reason I hated Economics; could never grasp the logic

imlach

It's the price of oil QUOTED on the US exchanges.
Brent Crude usually tracks US Crude.

imlach

That says 70% (not 70p!).

..which comes out around 60p as I said........fuel duty is FIXED at around 48p right now....as the price goes up, the tax %-age comes down.

Sinister Subaru

Shiot, how do you think I feel? I'm an American, and I'm hated for it, and I don't even support the majority of these actions.

Since George W. Bush has become president, Americans are probably the most hated people on Earth, and it's unfair, because A LOT of us don't share the views of the government. The majority of the people are AGAINST the war in Iraq. Hell, the Iraqis don't even want us there. We're trying to "help" people that don't want our help! They just want us to leave!

We have innocent soldiers dying over there, and for what? For oil. There were no "weapons of mass destruction." The only reason we are over there is because his Georgie's daddy couldn't finish the job himself in "Desert Storm." The soldiers fighting this war in Iraq don't agree with it either, but yet they are there "defending our country." They're not defending our country. They aren't protecting us. That's what "defending your country" is! And that's what they signed up to do. It's a damned shame.

For some reason, our government thinks it's their job to police the world. I can't stand this arrogance either. It portrays me in a poor light, and is not an adequate representation of how I feel.

SiPie

So....you've checked through all my posts and deemed them all to be of the nit picking nature

..... there speaks the voice of a man who realises he has shown himself to be a bit publicly

kammy

The average world oil price per barrel is dictated from OPEC producers NOT American oil. Alaska is also a decent producer of oil.

Its an exogenous (outside forceable events) shock to the system, which cause oil prices to rise amongst other things. Again simple economics. If your interested, search for papers from Hamilton (1983), (1996 a or b can not remember which) or PM me There are other more specific papers regarding events like this.

As mentioned earlier less oil supply cause prices to rise as its a finite resource-demand remians the same or even higher, met with less supply causes suppliers to distribute oil where the money is higher, in a sense a bidding effect.

The reason why the UK and generally speaking the rest of the world is soo affected by the USA market is that its a major world trader. The world exports there, thus high demand in their market cause stong domestic markets. The world also imports from them, high prices in their markets due to inflated prices will affect some of our goods, for better or worse.(This is all very if not, too basic and requires far more detail.)

Really OPEC should lower their prices, or increase oil production to help markets but I would not count on it, as they will capitalise on needy markets.

Kam-My god just read through what I wrote, I really need to polish my English skills

mart360

Its called any excuse..
and the clever thing is... if you pay it, they know there going to get it, so the price will continue to rise..


come the revolution!!


M

StickyMicky

its allready jumped up 3p in the past few days up this way

was 95.sumthing last week, 98.sumthing today

£45 in the tank and 45.50 litres pumped

ALi-B

iTrader: (1)

off you go again

Petem95

One of my mates who works in the automotive industry emailed me earlier telling me to fill up, as he reckons prices are set to jump a fair bit overnight due to a bit rise in the wholesale price of petrol.

Guess I'll go and fill up while its still under 1quid/litre (just!)

skoobidude

I could understand if Jazz CDs went up over night, but petrol?
WTF!

Nick

Sinister Subaru

Kammy, Alaska is an oil-rich state, and George W. Bush did propose drilling in Alaska, and A LOT of people had a fit over it. Alaska is a beautiful state, which is rich with a lot of nice areas, and oil refineries would destroy not only the quality of the air with pollution, but national parks, wildlife, etc.

kammy

Yeah Bush and Alaskians are right, might aswell ruin Iraq instead for the second time.

Editted to add-Sorry to seem angry at you, far from it. Just VERY anti-war.
All the best.

Budgie

iTrader: (4)

just got back from florida this morning and yes
all the regular grade ****e is sold out due to panic buying
good news
super plus is still available
moral of story mr america
sell the dodge and buy a scoob

please accept that this does not intend to belittle the
tragedy of the new orleans people

budgie

Budgie

iTrader: (4)

if alaska is that good i wonder why the russians gave it away?

budgie

Sinister Subaru

Hey, I tend to share your opinion, unless it's where Osama Bin Laden is concerned. BTW, the Bush family has close ties with the Binnies, so I seriously doubt we're looking for him, contrary to what the government tells us. We're so "busy" with Iraq that we don't hear much about Binnie anymore. I guess Saddam was the terrorist.

Now, granted Saddam did some horrible things, and he definitely had to go, but when this started, it was 12 years too late. He should've been taken out during Desert Storm, if anything.

As far as ruining Alaska, I don't want to see the beauty of Alaska ruined either. There aren't many untouched areas in the USA that hold such dramatic beauty. I'm far from being a tree-hugger, but I definitely respect and admire the environment.

People here complain about when a deer runs out in front of them, or they post a message how they hit a possum and banged up their bumper, or whatever. Sure, I feel for those people, and it sucks for both, the animal, and the operator of the vehicle, but when it comes down to it, we (human beings) invaded their space (woods, mountains, etc.), and not the other way around. Why are there rattlesnakes in the city? Why are there deer running through cities? Simple. Because we build OUR city right over theirs.

If you really want to put it into perspective, here's a thought for you. Human beings are like a virus. We migrate. Once we've destroyed and consumed all the resources in one area, we move on to destroy another, and another, and another...... Hell, we kill our own, some eat our own, we treat each other like garbage, we disrespect each other and their property, etc. The human race is like a self-cleaning oven......Eventually we'll just wipe out all of the resources that the Earth has to offer, and then wipe out each other (neither of which will happen in our lifetimes...). Look at New Orleans. People don't know how to act. There are soldiers trying to help them, and they get attacked for it. These people are raping, and beating each other. Why? Because they're upset? Because people are upset, it gives them call to rape and beat each other? Hey, I'm upset over gasoline prices, but I'm not out raping people because of it........

Sinister Subaru

Peter, you're asking the wrong person. But knowing the American government, they probably took it.....

If that's not the case, there must've been something large in the deal for the Russians....

Ennoch

Wonderful, petrol has gone from being 89.9ppl yesterday to 94.9ppl today at the same station. This crisis hit two days ago...there is no way that the petrol we are now buying was bought at the inflated price by the petrol companies. They put the price up immediately and take an age to get it back down. petrol has now gone up 31p in less than three years. There are many reasons for this that include the crisis in the middle east brought on by our countries insistence on going to war to support america. Most of the world didn't want it yet they carried on regardless...now the people who are suffering are those people that didn't want the war in the first place and are most succeptible to the knock on effects of it. I would gladly see Bush and Blair rot in hell for all the **** that has gone on over the last few years. they have shown themselves of being completely incapable of listening to what their voters want. How the hell they didnt get voted out at the elections I don't know. (Actually I do, there are no alternatives!). Road tax is going up, fuel is going up...wonderful, this country is going to drive itself into a state of no comeback.
We have let the rail service decline for years, roads and public transport are stuffed. now the car is becoming very quickly unaffordable. People do not see that people rely on cars and things that need petrol/diesel. People will very quickly realise just how badly they have been screwed by Mr Blair and Mr Bush when petrol hits £1.10 a litre this time next year and continues to rise exponentially. The price of fuel has gone up more than 10p alone in the last 6 months. And now, because of this war there is so much instability in the middle east that will probably rise to civil war we can pretty much kiss those oil reserves goodbye...meaning we have to rely on the states for all our oil needs...wonderful...the price will probably double. We help them out but I very much doubt they'll help us by providing decently priced petrol. Why are we sending them oil? Screw them...if they want it they can pay inflated amounts for it...we sure as hell do it enough over here!

Budgie

iTrader: (4)

sorry m8, but russia as good as gave it to them
think it was about 7 million dollers

budgie

Big Den

& McDonald's

willfal

yip, i'm with you there.

Will

Echo

At this rate petrol will be getting close to their price for bottled water.

imlach

Quite whinging! If you don't like the price, don't buy it. It's really quite simple. If the demand for the product isn't there, the price will fall. Simple really.

If you all continue to whinge, yet are prepared to pay the going price, then why the **** would the oil companies reduce the price.

Get with it folks. The price will come down if you reduce your usage. Get on your feet/bikes/buses/trains etc.

Now let the excuses why not roll...............

Brit_in_Japan

Oil production in the US peaked in the 1970's and has been in decline since then. They import >50% of all the oil they use. Therefore if they lose access to the Gulf of Mexico supply, not to mention they lose the capacity to refine oil to petrol (and refinery capacity is perhaps the biggest weakness in petrol supply to the US), then they will be out shopping on the world market for ready refined petrol. This is what's been happening and it's simple demand & supply economics which is pushing the price up for everyone. I think I read that the spot price for refined petrol was been >$100/barrel in the last week.

Leslie

Europe is going to supply the US with petrol to help them run their SUV's and to hold their petrol prices down to $3 a gallon. We will have to pay more for our petrol as well of course!

Les