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Oil Breaches $75

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http://wireservice.wired.com/wired/story.a...storyId=1514571

Oil reaches new high of $75 a barrel

By MADLEN READ AP Business Writer

Friday, April 21, 2006 2:13 p.m. ET

NEW YORK (AP) -- Crude-oil prices reached a new record of $75 a barrel Friday amid concern about Iran's nuclear ambitions and declining U.S. gasoline stocks.
U.S. pump prices also kept rising, with the average price of a gallon of unleaded regular gasoline at $2.855, up 3 cents from a day earlier and more than 60 cents higher than a year ago, according to AAA's daily fuel gauge report.
Analysts say oil prices are likely to climb higher in the weeks ahead
as worries grow about how international pressure on Iran, OPEC's No. 2 oil producer, will affect its crude output. Rebel disruptions of oil production in Nigeria also pose a risk to world supplies.

Looks like trouble ahead? :o

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Oil reaches new high of $75 a barrel

Putting increased demand on city centre apartment stock as people choose to live closer to work, thus keeping prices buoyant.

So it's not all bad news from the Bad News Bear after all.

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But it's allright, inflation eased this month.

Nah, that was last month.

This month Cadbury's chocolate Freddo's have gone from 10p to 15p.

It's a catastrophe.

[The oil's a bit of a problem too].

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Or ride around on Cows !

Brilliant :lol::lol::lol:

We are all just going to fly to work instead, yep on the pigs, well they fly don't they, Gordy would like to think so

Edited by Panda

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Just heard Gordon Brown on BBC News 24 saying about the oil price: What we need is more drilling?!?

Yeh Gordon we need more - well spotted.

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Just heard Gordon Brown on BBC News 24 saying about the oil price: What we need is more drilling?!?

Yup, that's exactly why he doubled the tax on North Sea operators, and exactly why they're taking their new rigs elsewhere. Nice one gordy.

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Just heard Gordon Brown on BBC News 24 saying about the oil price: What we need is more drilling?!?

Yeh Gordon we need more - well spotted.

Indeed we do Gordon, so why levy a heavy tax in latest budget to dissuade the oil companies from doing exploration drilling on the UKCS?????

All about the latest soundbite and spin:Two Months ago "Yes, tax those greedy oil companies (They only help prop up most private pension funds)".

Two months later: "Those Pesky Oil companies won't explore for oil, damn them it's all their fault".

Well Gordon, the world is bigger than your utopia. The oil companies are exploring, but not in UK thanks to your short sightedness. Robbing Peter to pay Paul with your latest soundbite....................

Companies will Drill if the rigs are available, but demand is sky high. I know of one rig that was working for 35,000 USD/day a few years ago, now it's on a new contract at 350,000 USD/day.

I'll declare my VI. I work as a Drilling Supervisor for BP.

EDIT:Didn't see the post above!!!!!

Edited by kevino

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I'll declare my VI. I work as a Drilling Supervisor for BP.

EDIT:Didn't see the post above!!!!!

Always nice to hear from the experts :) I bought BP shares two years back, despite that, I very much doubt they're enough to buy a house :(

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News 24 again: now a warning that the G7 world finance ministers are getting worried about the effect that high oil prices are having and the risks for the global economy.

Yes bankers you're worried - what do you suggest?

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Always nice to hear from the experts :) I bought BP shares two years back, despite that, I very much doubt they're enough to buy a house :(

Well hardly an expert on where the stuff is. Geologists such as "Rock Doctor" for that. We merely drill where they tell us.

BP and Shell (I joined BP from Shell 6 months ago) are undertaking massive exploration programmes, just very little in UK. Thanks to GB's posturing.

Maybe as far as tax goes he should learn that a large fraction of something is often smaller than a small fraction of a bigger something..........................

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BP and Shell (I joined BP from Shell 6 months ago) are undertaking massive exploration programmes, just very little in UK. Thanks to GB's posturing.

Interesting. I didn't think there was any prospect of significant oil finds around the UK anymore - I thought we'd pretty much done all the surveys it was worth doing around this little island. Is the lack of exploration aroun dthe UK really due to the current taxation situation, or just that there are better potential fields elsewhere?

Maybe as far as tax goes he should learn that a large fraction of something is often smaller than a small fraction of a bigger something..........................

Very true, although I had to read it twice :)

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Well hardly an expert on where the stuff is. Geologists such as "Rock Doctor" for that. We merely drill where they tell us.

I was perusing some geological maps a couple of weeks back and I had a wry smile when I saw 'East Midlands oil field' marked on there, I presume they mean around Egmanton but it seemed to cover a decent sized area. Just imagine if they can strike gold and again produce a whopping 64 barrels a day, Gordy would love that!

Edited by BuyingBear

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I was perusing some geological maps a couple of weeks back and I had a wry smile when I saw 'East Midlands oil field' marked on there, I presume they mean around Egmanton but it seemed to cover a decent sized area. Just imagine if they can strike gold and again produce a whopping 64 barrels a day, Gordy would love that!

Nice , perhaps we could tie them togther to make a raft and leave the UK , oh , and dont forget to turn the lights out.

D :D

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Yup, that's exactly why he doubled the tax on North Sea operators, and exactly why they're taking their new rigs elsewhere. Nice one gordy.
Indeed we do Gordon, so why levy a heavy tax in latest budget to dissuade the oil companies from doing exploration drilling on the UKCS?????

I don't buy that argument - even with Brown's extra 10% tax the North Sea is still a very attractive environment to work in, especially at $70+ a barrel! Look at other areas of the world - if Shell thought there was oil to find in the North Sea the extra tax wouldn't have put them off. Those rigs moved for other reasons and Shell just wanted to score some points off the government by blaming them.

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  • 301 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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