Plummeting Price of Fuel

[Gazza0208]

Oil price was high, very high. Everyone you meet seemed to know about the price of oil, people watched it trade on Screens of all sorts. It's easy to trade, you put up £1 and you get in some cases £25 to punt around, and I know people that have made and also lost a lot. A vast amount of the oil high price was hype and margin, oil company officials loved it, they all got paid, politicians loved it they all go income from taxation, punters using fuel just got round it. But now, you have a problem, it's real value is actually at risk because of allowing free trade by production countries that before were out the loop. And if, and it's highley probable, the price on the street maybe to a level that that it's all tax.... Petrol and diesel are free, you just get charged to pull in and get it! Easy, drop the revenue on fuel to 50p per let, and get the deficit from Institutions using Dutch Sandwiches.

[Chris-NZ]

My buddy in Oklahoma tells me gas is now UK 24p/ litre equiv price BUT the state is running nearly a billion dollar deficit and State employees are bracing for major job cuts. It's not all positives..

[Ronin]

I'm loving 99p diesel having just bought a 3L V6 Jaguar XF

 

 

 

I have a tuning box for the XF (S) if you have that model engine,,,increased torque on mine (when I had it) from 600 to 700 nm and BHP from 272 to 333

 

Made the car very pleasant to drive and returned excellent economy - better with the chip than without.

 

http://www.racechip.com/chiptuning/jaguar/xf/xf./3-0-v6-diesel-s-202kw/index.php

[simgre]

So if Scotland had voted for Indpendance, how would their prospective finances have looked now, given that so much was made of it.... Would it be possible for Nicola Sturgeon to look even more stern and "lemon sucking"?

 

(Got to admit, she didn't look overly joyed to see Hartley raise the Calcutta Cup...)

[SWShooter]

My buddy in Oklahoma tells me gas is now UK 24p/ litre equiv price BUT the state is running nearly a billion dollar deficit and State employees are bracing for major job cuts. It's not all positives..

I see it as swings and roundabouts , oil industry workers have had it good for decades whilst many other business`s have struggled due to high fuel prices , I`ll shed no tears for them as I fill up my 4x4.

[terryh]

Short lived schadenfreude I'm afraid.

 

Banks are (again) in trouble due to threat of defaulting on big loans and investment related to oil (approx 3 trillion, yes that's 12 zeros !). Lots of smaller oil producers only being kept going as the first one to default will trigger the rest into admitting that they won't meet their obligations.

 

BP stating they can balance thier books with a $60/barrel price was really bloody helpful!

 

Talk of negative interest rates (which is an interesting concept)

 

Oh, happy days!!

 

Terry

[rhhudson]

http://data.cnbc.com/quotes/%40CL.1

 

I hope this continues! £1.07 Diesel at my Sainsbury's. I wonder if it will go back through £1 a litre this time?

 

 

i payed 97.9 for diesel at my local station

[SWShooter]

Short lived schadenfreude I'm afraid.

 

Banks are (again) in trouble due to threat of defaulting on big loans and investment related to oil (approx 3 trillion, yes that's 12 zeros !). Lots of smaller oil producers only being kept going as the first one to default will trigger the rest into admitting that they won't meet their obligations.

 

BP stating they can balance thier books with a $60/barrel price was really bloody helpful!

 

Talk of negative interest rates (which is an interesting concept)

 

Oh, happy days!!

 

Terry

I take no pleasure seeing any industry on it **se ,you cant deny the oil industry has had it easy for a long while , numerous other industries suffer from time to time and you either have to put up or get out , never expect sympathy , you wont get it.

It sounds selfish but what counts at the end of the day is how you and your family are doing , it no use when politicians are telling us all is good when you havent got a pot to **ss in.