Current Oil Price

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kenneal - lagger
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Post by kenneal - lagger »

vtsnowedin wrote:
RenewableCandy wrote:If it's reduced travel because of fear of Ebola...just goes to show how much travel is discretionary, doesn't it?
If we cut air travel in half what harm would come of it other then some vacation resort hotels going out of business?

And not a few airports, airlines, the companies that supply them and plane manufacturers ......
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vtsnowedin
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Post by vtsnowedin »

kenneal - lagger wrote:
vtsnowedin wrote:
RenewableCandy wrote:If it's reduced travel because of fear of Ebola...just goes to show how much travel is discretionary, doesn't it?
If we cut air travel in half what harm would come of it other then some vacation resort hotels going out of business?

And not a few airports, airlines, the companies that supply them and plane manufacturers ......
There you go again,, being all practical. Sucks to be them of course but will their losses really effect the average guy's bottom line?
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emordnilap
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Post by emordnilap »

Ruinair is looking to expand and gobble up the market, ordering 100 737s.
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RenewableCandy
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Post by RenewableCandy »

Air travel is in fact quite heavily subsidised by various governments (local and national), so if it halves then the said governments would have more money to spend on other things, e.g. hospitals, fewer taxes, etc.
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Post by Tarrel »

RenewableCandy wrote:Air travel is in fact quite heavily subsidised by various governments (local and national), so if it halves then the said governments would have more money to spend on other things, e.g. hospitals, fewer taxes, etc.
...Or on alternative, more sustainable transport infrastructure, such as:
- Multi-use (passenger / freight) rail lines
- Centre-to-suburbs light rail systems
- City-centre bike-hire services
- Dedicated cycle-ways
- Advanced, computer-controlled sailing freighters
- 150 mph sleeper-airships (leave London at breakfast, arrive NY for breakfast the next day)

etc.

The technology is all there now. It's only cheap oil that is getting in the way.

(Mind you, it would be cheap oil that allowed it to be built! :oops: )
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kenneal - lagger
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Post by kenneal - lagger »

The Bretton Woods Trade Agreement ratified after the Second World War states that no taxes can be levied on air travel, including the fuel. It was one of those USonian things that we are still stuck with and the sort of thing that we will get stuck with to an even greater extent if we get lumbered with the TTIP.
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kenneal - lagger
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Post by kenneal - lagger »

Price is sneaking back up above $90. Saudis and a lot of dirty frackers will be relieved!
Action is the antidote to despair - Joan Baez
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emordnilap
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Post by emordnilap »

The break-even price of tar sands oil is around $100 per barrel if transported by rail
:lol:

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Post by vtsnowedin »

WTI $87.31 a new low for the year. :shock:
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Post by kenneal - lagger »

A low oil price is now a very good thing as it means most tar sand oil and some tight oil is not viable. How long it will last is another thing. The uncertainty helps reducing investment, hopefully!
Action is the antidote to despair - Joan Baez
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PS_RalphW
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Post by PS_RalphW »

Brent just touched $90
Edit now $88.50
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Post by biffvernon »

And our WTI ticker just went down another couple of dollars to $85.77.
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Post by vtsnowedin »

:shock: The stock market and oil futures are falling like a stone. I think Ebola and it's implications for travel and commerce is the primary driver. Twenty one days is the clearance time for Ebola so the next month may be fear driven as each news report of new cases in new locations take twenty one days to be sorted out.
WTI at $84.68 and the dow at 16,550 an hour before the opening bell in NY.
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Post by welly160 »

Hi everyone,
I'm new to the forum and hope to learn a lot and contribute in the future.
Thanks.
:)
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Post by biffvernon »

kenneal - lagger wrote:Price is sneaking back up above $90. Saudis and a lot of dirty frackers will be relieved!
Brent down to $88 today. There's a lot of talk about the price drop being caused by the Saudis selling cheap. Maybe to damage Iranian economy just when there's a thaw in relations between Iran and West.

Other conspiracy theories are available.
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