Scary Stuff.... Oil currently at $106.95

Graham_Devon

Petrol retailiers now warning of 5p being added to a litre in the coming week or two.

However, that was based on $111 a barrel!

at $116 a barrel, were looking more at 7-8p per litre at the pumps, dependant on timescales.

Inflation figures are gonna go crazy.

Rochdale_Pioneers

Wookie - elsewhere I've even been defending Osberk over fuel duty. Government cannot price-fix at pump by fiddling with duty. With exchange rates and crude prices a moving feast they'd have to make duty changes several times a day to keep up. It's a nonsense idea no matter who is in power. Pity Oik didn't realise this when in opposition he criticised Labour and promised a duty stabiliser, but at least he gets it now.

We need to wean ourselves off oil dependency, because the price trend has to be upwards as we run out of the easy to extract crude. A mass rail-electrification project taking trunk HGV moves off the motorways would be a start. Course that would mean building a shitload of new nuclear power stations which isn't going to happen until the lights actually start to go off

AD9898_2

Rochdale_Pioneers wrote: »

Wookie - elsewhere I've even been defending Osberk over fuel duty. Government cannot price-fix at pump by fiddling with duty. With exchange rates and crude prices a moving feast they'd have to make duty changes several times a day to keep up. It's a nonsense idea no matter who is in power. Pity Oik didn't realise this when in opposition he criticised Labour and promised a duty stabiliser, but at least he gets it now.

We need to wean ourselves off oil dependency, because the price trend has to be upwards as we run out of the easy to extract crude. A mass rail-electrification project taking trunk HGV moves off the motorways would be a start. Course that would mean building a shitload of new nuclear power stations which isn't going to happen until the lights actually start to go off

This is exactly what I've been talking about over the years, issues can move blindingly fast as this thread illustrates, the problem of nuclear is time & scale, it can take 15+ years to get a nuclear plant up an running and that is on top of all the infrastructure that has to be planned.

I don't take any glee from being right about this subject, hell I wished I was wrong, but facts are facts and they can't be disputed.

shortchanged_2

Unfortunately these ridiculously high prices of fuel at the pumps are what will ultimately push this country back into recession and if they remain stupidly high a depression.

Rochdale_Pioneers

Where is the best site that shows me current spot prices for Brent Crude? Was using oil-price.net but its s l o w

AD9898_2

shortchanged wrote: »

Unfortunately these ridiculously high prices of fuel at the pumps are what will ultimately push this country back into recession and if they remain stupidly high a depression.

Given our total dependency on cheap oil (95% of global transport alone depends on it), this is unfortunately extremely likely.

Asheron

Oils going to $200 and we will no longer be getting oil from the middle east, America will open up it's Oil fields at $200

Asheron

Prepare for massive inflation and food prices going sky high...

Stock up on Tin food it lasts a couple of years!

Rochdale_Pioneers

AD9898 wrote: »

This is exactly what I've been talking about over the years, issues can move blindingly fast as this thread illustrates, the problem of nuclear is time & scale, it can take 15+ years to get a nuclear plant up an running and that is on top of all the infrastructure that has to be planned.

I don't take any glee from being right about this subject, hell I wished I was wrong, but facts are facts and they can't be disputed.

Our failed energy policy is the biggest disaster that has befallen this country. Privatisation was insanity - we managed to shut the profitable pits (as the market dictated that it was cheaper and therefore better to import coal from Brazil than dig it up next to the power station) and instead let NORWEB et al go on the dash for gas. Which built lot of gas power stations to burn off North Sea gas leaving us dependent on Russia.

Labour were no better, doing nothing to regulate an industry that generated huge profits off consumers whilst making only minimal investments in infrastructure. Apparently the market will foresee our needs over the next 50 years and spend money now to get it back in 2040. Or not.

So we basically sold the decision-making process to various Japanese banks and city speculators, and then avoided all the difficult political decisions about building reliable renewables (like the Severn barrage) or the next generation of clean nuclear plants. So we did nothing, allowed the wind-turbine industry to die and failed to invest in nuclear. Which means that when eventually we do whatever we build will be built abroad for a foreign-owned energy company acting on its timetable and needs not our own. Even now we have the yellow pox blocking nuclear projects whilst simultaneously the Tories block renewables.

So we are basically screwed. We could have led the world in clean coal, in renewable technology AND maintained our self-sufficiency in coal gas and oil. Instead we sold it off and let the market enrich itself on our doom. Bravo Tories and Labour!

AD9898_2

Asheron wrote: »

Oils going to $200 and we will no longer be getting oil from the middle east, America will open up it's Oil fields at $200

Are these the same oil fields that peaked in the 70's ?