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music man

The Price Of Oil

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I watch the price of Oil daily as I know that an abudance of the stuff will lead to creaper industrial prices and overheads. It's as important to me as anything else.

And it's still up there - $64 per barrel.

I maybe an amateur with regard to economics but Oil is the precurser to everything else that is financed and created.

I read on this site a year or more ago that $60 per barrel would certainly slow things up for the economy.

Well since that post well $70 per barrel were reached and have held mid 60's for a while.

This is just an additional pressure on the economy alongside many others.

So will the price of oil push things over the edge with the probable Iran war.

Yes............. I think.

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Fuel prices are high and this all has a negative effect on household incomes. How much is very hard to predict.

A war with Iran could be disasterous not just economically but also politically.

Iran is one of the worlds major oil producers and I'm not sure that the Nato has a lot of bargaining power. Impose trade restrictions on the sale of Iranian Oil and we wreck our economy as oil prices will go through the roof.

An invasion would be mad and would see 1000s of troops returning home in body bags and would stir up bad feeling in an already volatile middle east. Iran is a well armed nation with surrounding geography making a ground invasion very difficult. Any invasion would need the co-operation of Saudi Arabia or would involve coming in from Iraq and Afganistan....all very difficult. They are also probably months away from developing nuclear weapons if they are required.

My opinion is the more pressure we apply to Iran the more chance they will develop a nuclear weapon. They obviously feel nervous about being the care taker for so much oil and the fact that two neighbouring countries are now occupied by the US.

I think the Yanks are obsessed with oil and are failing to grasp that one day it will all run out anyway. We need to put all our efforts into new fuels such as Bio Fuels and renewable resources such as wind and solar.

If we continue our stance with Iran then I think a huge war is on the cards and you can forget owning a house all together.

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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