Current Oil Price
Moderator: Peak Moderation
Thanks Tess . . . err I mean Sally! 
Are we taking it in turns on 'oilwatch'?
Are we taking it in turns on 'oilwatch'?
Andy Hunt
http://greencottage.burysolarclub.net
http://greencottage.burysolarclub.net
Eternal Sunshine wrote: I wouldn't want to worry you with the truth.
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emordnilap
- Posts: 14814
- Joined: 05 Sep 2007, 16:36
- Location: here
And, looking at the upstreamonline table of crude prices, I note that today all prices are over $110 for the first time, with five over $120, the most ever over that price.
$100 oil? You remember that?
$100 oil? You remember that?
I experience pleasure and pains, and pursue goals in service of them, so I cannot reasonably deny the right of other sentient agents to do the same - Steven Pinker
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sentiententity
- Posts: 91
- Joined: 01 Aug 2007, 17:08
- Location: Edinburgh
- Contact:
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emordnilap
- Posts: 14814
- Joined: 05 Sep 2007, 16:36
- Location: here
Hmmmm. Sitting in a caf? today, I overheard a woman saying how she and her friend were jetting over to Milan to 'look at shoes'.sentiententity wrote:Sally wrote:The joys of an open-plan office: As I just read this, I overheard someone say "I'm going to Marrakech for the weekend..."$121.64
s.
<covers eyes and shakes head>
Get a bike! Shoes last for years and years!
I experience pleasure and pains, and pursue goals in service of them, so I cannot reasonably deny the right of other sentient agents to do the same - Steven Pinker
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energy-village
- Posts: 1054
- Joined: 22 Apr 2008, 22:44
- Location: Yorkshire, UK
Yep, it's business as usual here too. We had a meeting today (4 people, inc me) and hols were mentioned.sentiententity wrote:Sally wrote:The joys of an open-plan office: As I just read this, I overheard someone say "I'm going to Marrakech for the weekend..."$121.64
s.
1 x round the world ticket, 2 trips to the US, trip to Spain, romantic mystery flight (destination unknown) plus "We have a home in Spain and go over there about every 3 weeks"
High oil prices doesn't make flying unaffordable. Oil is around 30% of a airline?s costs today, up from around 14% in 2004. If oil doubles from $100 to $200 airline?s costs increase by 30%.
That won?t impact demand much ? flying is still really cheap, compared with parking at the airport, the hotel, the food and drink when on holiday, the value of the business done etc... High oil prices will damage the aviation industry primarily indirectly, weakening the economy at large, leaving people with less disposable income to spend. Not because the price of a flight skyrockets overnight. Remember we?ve already seen a four fold price rise in as many years and flying in Europe has ever been higher and BA made a large profit last year, despite a lot of unrelated problems.
That won?t impact demand much ? flying is still really cheap, compared with parking at the airport, the hotel, the food and drink when on holiday, the value of the business done etc... High oil prices will damage the aviation industry primarily indirectly, weakening the economy at large, leaving people with less disposable income to spend. Not because the price of a flight skyrockets overnight. Remember we?ve already seen a four fold price rise in as many years and flying in Europe has ever been higher and BA made a large profit last year, despite a lot of unrelated problems.
Last edited by clv101 on 06 May 2008, 16:29, edited 2 times in total.
