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Oil Prices
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| Hoof Hearted 09 Dec 15 11.05am | |
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Falling rapidly. Petrol could be £1 a litre by Xmas. Is this a good thing? On the face of it yes - we all benefit from lower running costs and haulage firms generate greater profits. What about the wider picture and global economy? Lowering oil prices come about as a result of China's economic slowdown - they reduce useage of steel and other basic consumables which has a knock on effect on other economies and markets. Many of you on here will have pension funds invested in the stock market and you will be taking a big hit as share prices drop and income from them reduced or curtailed. Oil companies are making many people redundant too. Falling Oil prices hit emerging economies too like Brazil, Nigeria so anyone invested in those countries will see losses too. So, on the face of it Oil prices falling are a good thing, but when you drill down (pun intended LOL ) maybe it's not that good really! Only India seems to be bucking the trend, but eco warriors are trying to get them to reduce their reliance on fossil fuels to drive their economy upwards which they are ignoring at the moment. Edited by Hoof Hearted (09 Dec 2015 11.29am)
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nickgusset  Shizzlehurst 09 Dec 15 11.13am |
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Quote Hoof Hearted at 09 Dec 2015 11.05am
Falling rapidly. Petrol could be £1 a gallon by Xmas. Is this a good thing? On the face of it yes - we all benefit from lower running costs and haulage firms generate greater profits. What about the wider picture and global economy? Lowering oil prices come about as a result of China's economic slowdown - they reduce useage of steel and other basic consumables which has a knock on effect on other economies and markets. Many of you on here will have pension funds invested in the stock market and you will be taking a big hit as share prices drop and income from them reduced or curtailed. Oil companies are making many people redundant too. Falling Oil prices hit emerging economies too like Brazil, Nigeria so anyone invested in those countries will see losses too. So, on the face of it Oil prices falling are a good thing, but when you drill down (pun intended LOL ) maybe it's not that good really! Only India seems to be bucking the trend, but eco warriors are trying to get them to reduce their reliance on fossil fuels to drive their economy upwards which they are ignoring at the moment. Are you sure it's not all that foreign oil causing the problems?
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| Hoof Hearted 09 Dec 15 11.18am | |
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Quote nickgusset at 09 Dec 2015 11.13am
Quote Hoof Hearted at 09 Dec 2015 11.05am
Falling rapidly. Petrol could be £1 a gallon by Xmas. Is this a good thing? On the face of it yes - we all benefit from lower running costs and haulage firms generate greater profits. What about the wider picture and global economy? Lowering oil prices come about as a result of China's economic slowdown - they reduce useage of steel and other basic consumables which has a knock on effect on other economies and markets. Many of you on here will have pension funds invested in the stock market and you will be taking a big hit as share prices drop and income from them reduced or curtailed. Oil companies are making many people redundant too. Falling Oil prices hit emerging economies too like Brazil, Nigeria so anyone invested in those countries will see losses too. So, on the face of it Oil prices falling are a good thing, but when you drill down (pun intended LOL ) maybe it's not that good really! Only India seems to be bucking the trend, but eco warriors are trying to get them to reduce their reliance on fossil fuels to drive their economy upwards which they are ignoring at the moment. Are you sure it's not all that foreign oil causing the problems?
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Pussay Patrol  09 Dec 15 11.25am |
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Wow £1 a gallon ! crikey That is some fall ! Even £1 a litre would be a big drop
Paua oouaarancì Irà chiyeah Ishé galé ma ba oo ah |
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 Holmesdale Nick South Croydon 09 Dec 15 11.26am |
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£1 a gallon would be cheap. Do you not mean £1 per litre?
Fitter Fans Group 2. No. 17 |
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| Hoof Hearted 09 Dec 15 11.29am | |
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Quote Holmesdale Nick at 09 Dec 2015 11.26am
£1 a gallon would be cheap. Do you not mean £1 per litre?
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| Pawson Palace Croydon 09 Dec 15 12.01pm |
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It would be much better if prices remained stable but the duty was cut on it to help put money back in people's pockets. I reckon they will add a few pence on and people not notice until oil prices level out again.
Pride of South London |
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| Stuk Top half 09 Dec 15 1.22pm |
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All the while the Saudis are prepared to take the hit, they'll keep going down. They're trying to make the US's new self-sustainable sources uneconomic, and the only way to do that is to force down the global price per barrel, which is killing those who need the price to be circa $100/barrel to make money. An Iran are due to flood the market soon too, so it should stay in the $40-50/barrel range for a while.
Optimistic as ever |
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| DanH SW2 09 Dec 15 1.27pm |
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Quote Hoof Hearted at 09 Dec 2015 11.18am
Quote nickgusset at 09 Dec 2015 11.13am
Quote Hoof Hearted at 09 Dec 2015 11.05am
Falling rapidly. Petrol could be £1 a gallon by Xmas. Is this a good thing? On the face of it yes - we all benefit from lower running costs and haulage firms generate greater profits. What about the wider picture and global economy? Lowering oil prices come about as a result of China's economic slowdown - they reduce useage of steel and other basic consumables which has a knock on effect on other economies and markets. Many of you on here will have pension funds invested in the stock market and you will be taking a big hit as share prices drop and income from them reduced or curtailed. Oil companies are making many people redundant too. Falling Oil prices hit emerging economies too like Brazil, Nigeria so anyone invested in those countries will see losses too. So, on the face of it Oil prices falling are a good thing, but when you drill down (pun intended LOL ) maybe it's not that good really! Only India seems to be bucking the trend, but eco warriors are trying to get them to reduce their reliance on fossil fuels to drive their economy upwards which they are ignoring at the moment. Are you sure it's not all that foreign oil causing the problems?
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| mezzer Main Stand, Block F, Row 20 seat 1... 09 Dec 15 2.14pm |
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Quote Stuk at 09 Dec 2015 1.22pm
All the while the Saudis are prepared to take the hit, they'll keep going down. They're trying to make the US's new self-sustainable sources uneconomic, and the only way to do that is to force down the global price per barrel, which is killing those who need the price to be circa 0/barrel to make money. An Iran are due to flood the market soon too, so it should stay in the -50/barrel range for a while. The Sunni and Shia rivalry (cue jokes about I've got You Babe and the weather forecast) is probably bigger than the anti-US reason for the Saudis keeping oil prices low. They're terrified of Shia Iran gaining control of Iraq (buffer zone between themselves) and a lower for longer oil price will hurt Russia as well, which suits Saudi for their backing of Assad. All in all, oil's going nowhere very quickly, which will have some profound knock-on effects economically to a whole host of countries. On the flip side, to oil users, it's like a sizeable tax cut.
Living down here does have some advantages. At least you can see them cry. |
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| npn Crowborough 09 Dec 15 2.18pm |
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Scottish independence anyone?
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| mezzer Main Stand, Block F, Row 20 seat 1... 09 Dec 15 2.22pm |
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Quote Hoof Hearted at 09 Dec 2015 11.05am
Falling rapidly. Petrol could be £1 a litre by Xmas. Is this a good thing? On the face of it yes - we all benefit from lower running costs and haulage firms generate greater profits. What about the wider picture and global economy? Lowering oil prices come about as a result of China's economic slowdown - they reduce useage of steel and other basic consumables which has a knock on effect on other economies and markets. Many of you on here will have pension funds invested in the stock market and you will be taking a big hit as share prices drop and income from them reduced or curtailed. Oil companies are making many people redundant too. Falling Oil prices hit emerging economies too like Brazil, Nigeria so anyone invested in those countries will see losses too. So, on the face of it Oil prices falling are a good thing, but when you drill down (pun intended LOL ) maybe it's not that good really! Only India seems to be bucking the trend, but eco warriors are trying to get them to reduce their reliance on fossil fuels to drive their economy upwards which they are ignoring at the moment. Edited by Hoof Hearted (09 Dec 2015 11.29am) Unforeseen consequences abound in all this Hoof. Imagine this scenario....consistently low oil price leads to the bankruptcy of Petrobras, Brazil's biggest company by far. This brings down the Brazilian banking system which. in itself isn't too worrying, but Santander's earnings come 75% from Latin America, even though it's Spain's biggest bank. So the contagion has crossed to Europe. But who is the bulk of Santander's 3rd party derivative trading with? JP Morgan in the US. And so from an apparently insignificant Brazilian oil company going under we have Global Financial Crisis II. Fact or fiction? Just a festive thought.
Living down here does have some advantages. At least you can see them cry. |
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