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Oil Prices

  • 15-07-2013 11:03pm
    #1
    shane0007
    Closed Accounts Posts: 4,677 ✭✭✭


    I've been saying it for a long time & now proof is finally emerging.

    http://m.bbc.co.uk/news/science-environment-23280894

    Also watch oil prices towards the end of this year. A dramatic decline will be experienced. Oil stock piles have never been higher & the market will soon react. Added to the fact global 1st world consumption has been steadily declining since 2008.

    Once this happens, recovery globally will commence as it will re-introduce public confidence/spending.


Comments

  • #2
    Outkast_IRE
    Registered Users, Registered Users 2 Posts: 7,516 ✭✭✭Outkast_IRE


    Hey Shane, as someone who uses kerosene for heating this would be good news.

    The big fear that I would have is any large scale reduction of oil prices will lead to 3 things.

    1. A slowdown in the development of Renewables and Alternatives Energies.

    2. A corresponding increase in consumption if its price falls to a certain point.

    3. The government seeing the price on the forecourts drop will increase the tax on it again in the next budget !!


    I was only discussing it with a neighbour recently and I have been driving about 6 years now, and I think I have only once paid under €1 per litre for petrol .


  • #3
    shane0007
    Closed Accounts Posts: 4,677 ✭✭✭shane0007


    Outkast_IRE wrote: »
    1. A slowdown in the development of Renewables and Alternatives Energies
    Absolutely not. Renewables are not a new technology. Both solar & heat pump technologies date back to the 1800's & have their place within the marketplace. Generally, people will still want to future proof & are much educated nowadays with the Internet than when in moons before, information was a rare commodity.
    Outkast_IRE wrote: »
    2. A corresponding increase in consumption if its price falls to a certain point.
    True, but it usually stabilises to its true level. It generally has the bounce effect in both directions. During recessions, we cut too much. Then price drops & we use too much. Price increases & the cycle begins again. This is natural & we are seeing this also within the housing market, which we have to be careful when economies recover, we do not create another housing bubble because property is under-priced at the moment. Some credit in the market, a realisation of under priced property & hey ho, we are off again.
    Outkast_IRE wrote: »
    3. The government seeing the price on the forecourts drop will increase the tax on it again in the next budget !!

    Won't be an issue, as the recovery due to cheaper fuel, cheaper transportation costs, cheaper living costs will lead to consumer confidence. This will lead to market recovery & job creation, which will lead to higher consumer consumption, higher income & vat intakes, etc.
    Outkast_IRE wrote: »
    I was only discussing it with a neighbour recently and I have been driving about 6 years now, and I think I have only once paid under €1 per litre for petrol .
    I remember when I first moved to London & bought my first car, paying 30p per litre!


  • #4
    scudo2
    Closed Accounts Posts: 2,008 ✭✭✭scudo2


    shane0007 wrote: »
    Absolutely not. Renewables are not a new technology. Both solar & heat pump technologies date back to the 1800's & have their place within the marketplace. Generally, people will still want to future proof & are much educated nowadays with the Internet than when in moons before, information was a rare commodity.


    True, but it usually stabilises to its true level. It generally has the bounce effect in both directions. During recessions, we cut too much. Then price drops & we use too much. Price increases & the cycle begins again. This is natural & we are seeing this also within the housing market, which we have to be careful when economies recover, we do not create another housing bubble because property is under-priced at the moment. Some credit in the market, a realisation of under priced property & hey ho, we are off again.



    Won't be an issue, as the recovery due to cheaper fuel, cheaper transportation costs, cheaper living costs will lead to consumer confidence. This will lead to market recovery & job creation, which will lead to higher consumer consumption, higher income & vat intakes, etc.

    I remember when I first moved to London & bought my first car, paying 30p per litre!

    Jeasus. Does anybody sleep. Yer worse than my cat. All hiper at midnight.


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