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Realistbear

Sky Breaking News: Oil $105

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http://uk.biz.yahoo.com/06032008/140/price-oil-leaps.html

Thursday March 6, 11:26 AM
Price Of Oil Leaps Up - Yet Again
By
Sky News
Oil prices have again hit record highs on both sides of the Atlantic because of worries over stockpiles and production.
Light sweet crude reached just over $105 in New York, while in London Brent crude topped $102 - both figures not seen
before.

If Ben sends the US$ much lower we could see $150 bbl before summer. Even at these current prices, a severe recession is inevitable. Transport is the lifeblood of the economy and with the cost of fuel skyrocketing the prices must be passed on to the consumer is large chunks. Short term inflation followed by a worldwide crash and years of deflation.

The camel's back is close to breaking folks. Take cover while you can.

Diesel is 1.14 around here now. :o

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I filled up last night could not believe 109.9 per litre for diesal and the latest prices will not have been added yet food prices must go up with added costs of delivary

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im tellin youse. it'll be £3 per litre by 2009

put that in your pipe and smoke it.

someones got to pay for all the millions of housing profit,

and £ - $ deflation against real commodities is the result.

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I wish oil was quoted in pounds sterling, quotes in $ make it very hard to track the changes accurately...

OK.

I keep a little book in my car that tracks the price I pay per litre and the date, no of kms driven etc.

This week, I paid 1€23 a litre at my local garage (an Esso garage, the cheapest around). 1 year ago exactly, the price was 1€00

That makes a 23% rise at the pump. I don't drive a lot. But for families where there are 2 drivers, this will hit really hard.

They will spend less on DVD's, clothes, holidays etc to keep their cars running. Guaranteed. :ph34r:

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im tellin youse. it'll be £3 per litre by 2009

put that in your pipe and smoke it.

someones got to pay for all the millions of housing profit,

and £ - $ deflation against real commodities is the result.

You are wrong, in future it will not have a price measured in units of a fiat currency. You will trade food for fuel to warm yourself in the coming credit winter, not to fill the tank of your car.

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You are wrong, in future it will not have a price measured in units of a fiat currency. You will trade food for fuel to warm yourself in the coming credit winter, not to fill the tank of your car.

Oddly reminiscent of anyone we know? Hmm...

(Would that "Arkadia", the boardgame?)

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Guest Steve Cook

We are at the beginning of the end of the oil age folks. All previous economic preconceptions are now redundant.

My guess for the years ahead:

  • irreversable reductions in energy supplies leading to irreversable rises in energy prices leading to
  • reduced economic activity leading to
  • monetary deflation. However, this will be in the face of
  • increasing costs on every front leading to
  • demand destruction for all but the most essential commodities/services. These will be such things as
  • fuel and food whose prices will soar ever upwards
  • increasing frequency and severity of resources conflicts (in particular, energy) leading to
  • WWIII

Steve

Edited by Steve Cook

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We are at the beginning of the end of the oil age folks. All previous economic preconceptions are now redundant.

My guess for the years ahead:

  • irreversable reductions in energy supplies leading to irreversable rises in energy prices leading to

  • reduced economic activity leading to

  • monetary deflation. However, this will be in the face of

  • increasing costs on every front leading to

  • demand destruction for all but the most essential commodities/services. These will be such things as

  • fuel and food whose prices will soar ever upwards

  • increasing frequency and severity of resources conflicts (in particular, energy) leading to

  • WWIII

Steve

Why did you sell your bricks then ?

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If Ben sends the US$ much lower we could see $150 bbl before summer. Even at these current prices, a severe recession is inevitable. Transport is the lifeblood of the economy and with the cost of fuel skyrocketing the prices must be passed on to the consumer is large chunks. Short term inflation followed by a worldwide crash and years of deflation.

The camel's back is close to breaking folks. Take cover while you can.

Diesel is 1.14 around here now. :o

Interestingly, looking at the official figures:

http://tonto.eia.doe.gov/oog/info/twip/twip.asp

Crude stocks have dropped very slightly, but gasoline is way *above* normal stock levels, and distilates (diesel+heating oil) are average for the time of year. So I think the current run up is more to so with dollar weakness; it's only if those crude stock levels start to drop below of the normal range that we'll get a real run up in prices. That or reporting is being politically manipulated to try and keep oil prices down. (Tinfoil hat mode..)

Interesting factoid - if the 300 million cars in the US all added 5 gallons to their tanks, the resultant 35 million barrell stock draw would quickly create local scarcities, leading to more hoarding. Fuel distribution systems rely on trust as much as banking..

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Well we have tried bombing places that wanted to trade oil in euro's so maybe we should bomb OPEC and it's masters in the USA.

Brown is also part of the plot and the more petrol goes up then the more tax he gets.

Keep your food stocks well supplied

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cowardice

I thought it was for the flexibility to best position yourself for what's coming...

I haven't sold my bricks which I reckon makes me a bigger coward than you :lol:

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Guest Steve Cook
I thought it was for the flexibility to best position yourself for what's coming...

I haven't sold my bricks which I reckon makes me a bigger coward than you :lol:

You're right Huw. To some extent it is about positioning. But there is also an element of cowardice (in other words, a degree of self doubt in one's view; at least in the short to medium term).

I believe I am largely correct on the broad picture of what's heading our way as a result of the peaking of the energy supply. However, how this will pan out on a local timescale, I am utterly unsure about. This short timescale is the one in which i must make my longer term plans. The wrong investment decision now will cost dearly. It is extremely difficult to take a neutral position in terms of investments at the moment. There is no such thing right now as "no position"

Steve

Edited by Steve Cook

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You're right Huw. To some extent it is about positioning. But there is also an element of cowardice (in other words, a degree of self doubt in one's view; at least in the short to medium term).

I believe I am largely correct on the broad picture of what's heading our way as a result of the peaking of the energy supply. However, how this will pan out on a local timescale, I am utterly unsure about. This short timescale is the one in which i must make my longer term plans. The wrong investment decision now will cost dearly. It is extremely difficult to take a neutral position in terms of investments at the moment. There is no such thing right now as "no position"

Steve

If you are unsure, best do nothing. Just make sure you enjoy yourself.

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Guest Steve Cook
If you are unsure, best do nothing. Just make sure you enjoy yourself.

You've just about described perfectly what my position is there....... :rolleyes:

edit: with one proviso...I'm looking at the possibility of land.....

but thats off topic and the subject of another thread.. ;)

Steve

Edited by Steve Cook

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You've just about described perfectly what my position is there....... :rolleyes:

edit: with one proviso...I'm looking at the possibility of land.....

but thats off topic and the subject of another thread.. ;)

Steve

That thought crosses my mind from time to time. Partly because I think I'd enjoy growing my own veg. Think I'll wait until land/property is a bit cheaper.

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  • 292 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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