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atyourcervix73
15th Apr 2006, 16:38
Is it just me, or does it seem to anyone else that all this instability in the Middle East is doing exactly what OPEC, and the Texan oil Barons (GWB & his friends included) want...push up the price of oil.
A few years ago crude was hovering at around $30US a barrell, now post Iraq...and with Iran seemingly in the US's sights, its hovering aroun $65-70US a barrell oh and by the way we arent THAT short of the stuff yet. Call me an old cynic, but it seems to me a lot of corporations and countries are making money due to this instability.

Your comments please :ok:

fmgc
15th Apr 2006, 16:43
Now let us see, Texan oil baron is president of the USA and we have very high oil prices.

Coincidence? I don't think so.

tony draper
15th Apr 2006, 17:09
Well if one is President of the USA one is entitled to a few perks.
:rolleyes:

AnEviltwinEr
15th Apr 2006, 17:16
Call me an old cynic, but it seems to me a lot of corporations and countries are making money due to this instability.

Your comments please :ok:

I'm not calling you a cynic. It's true! :)

Norway is earning money as hell because of that. One of the politicans here had an idea to give money BACK to the people, just because they had too much!

Unfortunately, i think that suggestion drowned due to politicans that wanted higher wage. :{

snow goose
15th Apr 2006, 17:32
Originally Posted by atyourcervix73
"Call me an old cynic, but it seems to me a lot of corporations and countries are making money due to this instability"
If, Old Cynic, your country is UK, you're onto a runaway winner. Thank Bush
for.....
...ho-hum...low taxes.
SG

ExSimGuy
15th Apr 2006, 17:52
Originally Posted by atyourcervix73
If, Old Cynic, your country is UK, you're onto a runaway winner. ...low taxes.
SGNow let's see:
Petrol - Just about the highest price in the developed world (I'd guess at 75% of it is tax
Fags - I know that 80% of it is tax
Beer - Dunno - Maybe 50%. possibly a fair bit more?

Or is it that for some unexplicable reason, transporting stuff to UK is soooo much more expensive than to France, Germany, USA, Aus-bleedin-strailure, etc etc?

(one trust ayc73's tonguewas firmly in the cheek!)

haughtney1
15th Apr 2006, 17:57
If, Old Cynic, your country is UK, you're onto a runaway winner. Thank Bush
for.....
...ho-hum...low taxes.
SG

Tell where these low taxes are in the UK, cos Im gonna shift..and I have friends who will move as well!..VAT is only 17.5 % after all :hmm:

I reckon oil is about £20US a barrell overpriced:cool:

3 slips and a gully
15th Apr 2006, 18:15
Oil is overpriced because its traded in a currency propped up the Chinese (main holder of T-Bonds and 10 year paper) and Oil as a hedge. Your paying 40% more for oil because the USD has lost 40% to the Euro in the last 5 years and its being propped up to maintain revenues for big Oil.

If Iran and Venezuala can get oil traded on a bourse in euros (as Saddam wanted) and China continues to raise its gold reserves (now at a 26yr high at $600/oz) in lieu of accumulating US paper continually losing its worth, you could pay less. Sure its declining and demand is rising and we are at Hubberts peak etc but is it overvalued? I think so simply because its traded in an overvalued currency.

Oil, Gold and the USD (as a traded entity) are inextricable linked....

http://www.kitco.com/ind/AuthenticMoney/apr112006.html

http://www.kitco.com/ind/balarie/apr132006.html

http://www.kitco.com/ind/Bond/apr102006.html

Gingerbread Man
15th Apr 2006, 19:48
I noticed petrol prices here in Blighty have jumped up a notch. Was around 87p/L, now it's about 96p/L. I don't think anyone's noticed for a change - I haven't seen any riots or rending of garments yet.

GBM :}

AnEviltwinEr
15th Apr 2006, 22:10
Norwegian Gas Prices:


Nok: ca. 11 kr

Gbp: 96 p

Eur: 1 e, 40 c

Usd: 1.70 $

Yen: Nah.

seacue
15th Apr 2006, 22:58
US gasoline prices are now very close to $3.00 per US gallon at my local stations, up from $2.28 earlier this year. That works out to about US$ 0.79 per litre, doesn't it?

Today I passed a normally-high-priced station that posted $3.099 for regular and $3.299 for super.

About US$ 0.42 of that is tax, 18.4 cents is Federal tax, the rest state/local. Total taxes (in 2002) range from 26.4 cents (Alaska) and 30.6 cents (Georgia) to 53.5 cents (Hawaii). The average total tax is 42 cents.

BlueWolf
16th Apr 2006, 05:09
Tax, excise, and GST account for 48% of the pump price of petrol here (about NZ$1.60 a litre for the good stuff, 91 octane a bit cheaper, diesel I don't know! I just put it in the tank and hand over my fuel card :uhoh: I think it's about $1.15).

Back in 1973, when the first oil shock pushed the price of a barrel of Saudi crude to US$23, the cost of getting that barrel out of the ground and into the refinery was about seven cents US. Wonder what it is now? A dollar maybe?

I don't think it's fair to call it a conspiracy. It's just business, plain and simple; keep putting the price up until your customers actually squeak.

If Iran can get the Bourse established without being nuked, which is highly unlikely, all that will happen is that we will be paying too much in Euros instead of in dollars.

Only when we all start talking about hydrogen in serious tones will the price of oil come down again.