Current Oil Price

snow hope · Post by **snow hope** » 20 May 2010, 22:50

and back to $68 again.....

the volatility is quite extraordinary - says a lot really.

emordnilap · Post by **emordnilap** » 21 May 2010, 09:30

But the relentless rise is there; these are just blips, stair-steps if you like or three steps up and two steps back.

emordnilap · Post by **emordnilap** » 21 May 2010, 12:42

This Telegraph article makes interesting reading.

There is also the prospect of pecuniary punishment from President Obama’s team, which has grown increasingly frustrated with BP’s inability to stop the leak. In return for the bad publicity, it could well end the industry’s $36.5bn in tax breaks and hand subsidies over to eco-friendly wind or biofuel projects.

We can wish.

PS_RalphW · Post by **PS_RalphW** » 25 May 2010, 10:51

This is looking like a major deflationary slide.

Oil at $67.50 and both sterling and euro at new recent lows to the dollar.

If I was wearing a tin hat I would say that TPTB (ie the IMF et al ) sense blood and want to punish Europe (and by association the UK) in 'shock doctrine' style.

More likely, they simply have set off another round of unstoppable betting on failure which becomes a self fulfilling prophesy.

Or maybe they know that peak oil is here, and are simply managing the decline of the western world economies in a series of planned partial collapses.

OK tin hat off again.

Blue Peter · Post by **Blue Peter** » 25 May 2010, 11:05

RalphW wrote:This is looking like a major deflationary slide.

Oil at $67.50 and both sterling and euro at new recent lows to the dollar.

If I was wearing a tin hat I would say that TPTB (ie the IMF et al ) sense blood and want to punish Europe (and by association the UK) in 'shock doctrine' style.

More likely, they simply have set off another round of unstoppable betting on failure which becomes a self fulfilling prophesy.

Or maybe they know that peak oil is here, and are simply managing the decline of the western world economies in a series of planned partial collapses.

OK tin hat off again.

I'm not quite sure of where the interests of the US lie vis-a-vis the Euro. A weak Euro means that the only reserve currency is the dollar, which is good for the US given that it has a lot of borrowing to do.

However, if the dollar is the only safe haven, that means a relatively strong dollar which makes it harder for the US to export its way to growth. And without that, the US can't get out of its predicament.

Generally, I think that investors have realized that shifting debt from the private to the public hasn't got rid of the debt. So, the problem remains unsolved. Too much has been promised, and it can't all be honoured. The drag of all this debt will prevent us from growing out of the problem, so there won't be growth, and we won't need that much oil,

Peter.

biffvernon · Post by **biffvernon** » 25 May 2010, 11:48

Gosh! You guys don't think anybody is actually planning anything, do you? More like we're all just flotsam in the chaotic maelstrom where short term trend prediction of all economic indicators are impossible.

The only certainties are that all economies will de-carbonise or die (and then die anyway 'cos of global warming).

marky10 · Post by **marky10** » 27 May 2010, 18:49

Hi all, I stumbled across the Peak oil crisis by accident after my friend
told about the film collapse .
Are we really reaching the end of industrial civilisation?

ziggy12345 · Post by **ziggy12345** » 27 May 2010, 22:56

marky10 wrote:Hi all, I stumbled across the Peak oil crisis by accident after my friend
told about the film collapse .
Are we really reaching the end of industrial civilisation?

I suggest you read everything you can and make your own mind up. Everybody on here and other sites all have their own individual view of what is likely to happen in the near and far future but most people believe that the next 20 years will not be like the last and not as prosperous

biffvernon · Post by **biffvernon** » 30 May 2010, 20:45

marky10 wrote:Hi all, I stumbled across the Peak oil crisis by accident after my friend
told about the film collapse .
Are we really reaching the end of industrial civilisation?

Yes.

Just can't be sure it's this Tuesday.

Welcome to the forum, marky10.

(By the way, this sticky thread is mostly for price related comments, like "Ooo, up to $75 again".)

biffvernon · Post by **biffvernon** » 16 Jun 2010, 18:51

Since going down to about $67 in late May it has gradually risen again, now back to $77.

Prono 007 · Post by **Prono 007** » 24 Jul 2010, 10:32

Interesting stats here about the UK price of petrol.

In terms of percentage increase over 5 years 2010 is way ahead of any year since 2001 at 40%. That's above the increase in 2008 which was only 33%.

The year's not out yet but so far things seem unlikely to change significantly - at least in terms of price reduction.

This high cost at the pumps must be pushing the UK towards another recession I'd have thought.

Ludwig · Post by **Ludwig** » 24 Jul 2010, 11:13

Prono 007 wrote: This high cost at the pumps must be pushing the UK towards another recession I'd have thought.

Another recession? Can you have more than one recession at a time?!

PS_RalphW · Post by **PS_RalphW** » 02 Aug 2010, 13:41

Finally staggered back up to $80 on a weak dollar.

Gold is not rising, but stocks are. More irrational exuberance.

biffvernon · Post by **biffvernon** » 12 Aug 2010, 20:29

So what happened today? After bumping along in the low $80s it dropped to $75 today.

RenewableCandy · Post by **RenewableCandy** » 12 Aug 2010, 23:46

It was Merv and his crystal ball. Everything fell today. Except, I presume, land.