Current Oil Price

Andy Hunt · Post by **Andy Hunt** » 03 Dec 2008, 14:54

Someone thinks oil prices are never going to go back up . . . this is just too funny!

RGR · Post by **RGR** » 03 Dec 2008, 19:08

Andy Hunt wrote:

Someone thinks oil prices are never going to go back up . . . this is just too funny!

Someone thinks that the topic is a delicious example of confusing the absolute supply of a thing with its value.

RevdTess · Post by **RevdTess** » 03 Dec 2008, 19:13

RGR wrote:
Andy Hunt wrote:

Someone thinks oil prices are never going to go back up . . . this is just too funny!
Someone thinks that the topic is a delicious example of confusing the absolute supply of a thing with its value.

The topic was just a statement of fact when it started, and will be a statement of fact again at some point in the future. The topic is not 'peak oil has arrived!' but merely a discussion of market price action. Your smugness is unnecessary and unjustified.

Vortex · Post by **Vortex** » 03 Dec 2008, 19:25

Take heed RGR.

Tess works in the oil business - albeit in a different sector from yours.

You enjoy belittling the 'amateurs' - but you can't be so dismissive of HER opinions

welshgreen · Post by **welshgreen** » 03 Dec 2008, 19:55

yea, at first you raised a smile but now your posts are just tiresome RGR.

RevdTess · Post by **RevdTess** » 03 Dec 2008, 20:28

Vortex wrote:Take heed RGR.

Tess works in the oil business - albeit in a different sector from yours.

You enjoy belittling the 'amateurs' - but you can't be so dismissive of HER opinions

I like the capitals. Makes me feel like the Queen or something.

RGR is welcome to be dismissive of my views on oil supply which I know very little technically about, but in practice I don't really have an opinion, I just track the information that becomes available to the markets, and try to predict what the reaction of traders will be. I don't need to know if the information is true, and to be honest I accept that I probably can't ever know, except in hindsight.

Andy Hunt · Post by **Andy Hunt** » 03 Dec 2008, 21:25

RGR wrote:
Andy Hunt wrote:

Someone thinks oil prices are never going to go back up . . . this is just too funny!
Someone thinks that the topic is a delicious example of confusing the absolute supply of a thing with its value.

Pure gobbledegook. You seem to be confusing the market price of something with its value RGR. The slave traders made a similar mistake.

Besides, as Tess said, the thread is a discussion of the oil price. Whatever significance you want to ascribe to that is entirely up to you. A high oil price has implications for the POWERSWITCH to renewable energy.

Vortex · Post by **Vortex** » 03 Dec 2008, 21:35

Don't undervalue yourself Tess ... RGR will be only too happy to do the job for you.

Ballard · Post by **Ballard** » 03 Dec 2008, 22:22

RGaRse

Sorry, very childish, couldn't resist.

Andy Hunt · Post by **Andy Hunt** » 03 Dec 2008, 22:24

Ballard wrote:RGaRse

Sorry, very childish, couldn't resist.

Funny!!

Or RGBarG

RGR · Post by **RGR** » 04 Dec 2008, 00:39

Tess wrote:
RGR wrote:
Andy Hunt wrote:

Someone thinks oil prices are never going to go back up . . . this is just too funny!
Someone thinks that the topic is a delicious example of confusing the absolute supply of a thing with its value.
Your smugness is unnecessary and unjustified.

I apologize for the hilarity I felt translating across the pond as smugness.

RevdTess · Post by **RevdTess** » 04 Dec 2008, 00:44

RGR wrote: I apologize for the hilarity I felt translating across the pond as smugness.

Your sincerity seems unable to cross the pond either...

RGR · Post by **RGR** » 04 Dec 2008, 00:49

Andy Hunt wrote: A high oil price has implications for the POWERSWITCH to renewable energy.

It sure does. But the title of the thread is about all time high crude prices, which is why I think its a riot.

RevdTess · Post by **RevdTess** » 04 Dec 2008, 00:56

RGR wrote: In the meantime, I would venture, along the lines of POWERSWITCHING, that if the government had any balls, it would raise the tariff/tax on crude imports as fast as the market dropped the commodity price, and use the difference for some decent powerswitching. It would keep demand lower, pump money into the system for other powerswitch uses...makes so much sense, I'm betting no one is doing it! Certainly not here in America, maybe you Brits have more "take you medicine" leadership?

They are I believe taking the opportunity to start increasing the tax on gasoline and diesel again after halting the regular rises when prices were painfully high.

However I agree that this should be pursued more aggressively while prices are low and the revenue pushed towards an anti-climate-change agenda, or a pro-renewables agenda (depending on your preferred approach). I doubt it'll happen though, at least not openly.

Yves75 · Post by **Yves75** » 04 Dec 2008, 07:09

RGR wrote:
In the meantime, I would venture, along the lines of POWERSWITCHING, that if the government had any balls, it would raise the tariff/tax on crude imports as fast as the market dropped the commodity price, and use the difference for some decent powerswitching. It would keep demand lower, pump money into the system for other powerswitch uses...makes so much sense, I'm betting no one is doing it! Certainly not here in America, maybe you Brits have more "take you medicine" leadership?

Yes agree with that, except that for me the government taxes on fuels should be primarily based on volume (quantity) and not price, and this tax should be regularly raised. It is already the case in France (for the quantity based aspect) with the TIPP, which represents the bulk of the fuel taxes compared to the VAT part (based on price), how is it in the UK ?

A "variable TIPP" was tried in 2000 2002 (partly price based to redirect price drop at the pump more) but has been dropped.

For instance if the price of a liter "out of the refinery" is 0.2 :
TIPP tax 0,63
VAT tax 0.17
pump price 1

if the price "out of the refinery" is 0.4 (double)
TIPP tax 0.63
VAT tax 0.2
pump price 1.23