BBC on Oil - are low prices here to stay

ging84

oil prices are down for ever
we might see some short term spikes, environmental taxes might jack up the price of it's consumption, but ultimately, in the last 5-10 year, oil has gone from being a finite resource which is cheap but everyone wants it so is always in high demand, to something you can get anywhere for a certain price, and everyone wants to get away from it.

InvestInPoker

Generali wrote: »

The SNP

Presumably the drop in oil price is Westminster's fault.

Loughton_Monkey

Mallotum_X wrote: »

The bbc seems to think so....

With respect, I don't think they are saying any such thing. As usual, they are shoving out a headline question and pushing out a few hundred words of drivel worthy of 15 minutes of Google 'research' by a spotty 14 year old doing his homework.

The BBC, sadly, are masters at pushing out total tripe that offers no valid substance. I think most things are written by naive 23 year olds fresh out of Middle Wollup 'University' with a 3rd class PPE 'degree'.

If you look hard enough, you will doubtless find another old BBC article produced at the time oil went >$100 a barrel advocating a flimsy reason why high oil prices are here to stay.

The BBC are no longer 'fit for purpose'. The quality of so-called 'reporting' consists of a handful of straight forward daily happenings culled from Reuters and company press releases. Then it is filled with amateur 'tosh' like this one, or perhaps on the latest mad 21-year-old PHD student who has interviewed 199 people and has come to the conclusion that eating kebabs and chips causes you to earn less money at work.

Only the other month, it seemed to take them 2 days to work out that their share price data was not working!

Their attempt at being "balanced" in reporting has bypassed them completely. It is meant to make them report each item in a balanced and intelligent way. Instead, they now think that they can put out a miserable, biased, factually incorrect, unsubstantiated slagging off to Cameron provided that they 'balance' it by an equally miserable slagging off to Milliband.

They used to have at least one advantage in that they are not "commercial". However, they now carry far more advertising than ITV or Channel 4. You only have to look at, say, "The One Show" every night to see them blatantly advertising and pushing a pop star's new album, an ITV host's new TV show, or the latest offering from a multi-billion film producer.

Turn to (even) the local news to find the compulsory "Arts Slot" that the DG edicted a few months ago and you will see the latest advertisement for the newest commercial West End show or a failing amateur dance group hoping to 'hit the big time' and make a load of money.

Simply glance at today's 'Front Page' on BBC News website and you will see at least 3 'adverts'. Respectively (see below) they are advertising Grappa for Italy, a Polish film, and a new ITV series.

http://www.bbc.co.uk/news/magazine-31585550

http://www.bbc.co.uk/news/entertainment-arts-31585429

http://www.bbc.co.uk/news/entertainment-arts-31600496

I wouldn't mind if they were paid for this and the money subsidised the license fee. But I expect if money is involved, it exists only in brown envelopes passed under the plate to a few producers.

When they're not doing this, their filling up valuable air time with 'adverts' of what's coming up later, or how to pay your license fee......

Grossly overpaid charlatons the lot of 'em!

michaels

Loughton_Monkey wrote: »

.....

Problem is if I agree with you I am a reactionary old fart who doesn't 'get' modern multi-cultural Britain....

Loughton_Monkey

michaels wrote: »

Problem is if I agree with you I am a reactionary old fart who doesn't 'get' modern multi-cultural Britain....

Well done!

I just knew you were capable of getting there.

Have a very large gin & tonic......:rotfl:

ps isn't the term "multi-cultural Britain" an oxymoron? Perhaps in the same way as "laissez-faire Germany", or "Highly-Taxed Greece" or "Tea-Total Scotland"?

antrobus

Loughton_Monkey wrote: »

.....

If you look hard enough, you will doubtless find another old BBC article produced at the time oil went >$100 a barrel advocating a flimsy reason why high oil prices are here to stay.

....

It's funny you should mention that because ....

Why high oil prices are here to stay
By Stephanie Flanders, BBC Economics Editor, 22 May 2008
http://news.bbc.co.uk/1/hi/business/7415559.stm

purch

Loughton_Monkey wrote: »

Grossly overpaid charlatons the lot of 'em!

A little more tonic might be answer :eek:

purch

antrobus wrote: »

Why high oil prices are here to stay
By Stephanie Flanders, BBC Economics Editor, 22 May 2008

I wouldn't like to see JP Morgans position in WTI currently :eek:

Jonbvn

I have worked in O&G for many years and I have come across numerous people claiming to be able to predict future oil prices, from those in strategic planning, development managers, economists, investment bankers, IEA, OPEC, journalists and anonymous posters on internet forums.

Given their success (or lack of), I no longer believe any of them.:p

ging84

antrobus wrote: »

It's funny you should mention that because ....

Why high oil prices are here to stay
By Stephanie Flanders, BBC Economics Editor, 22 May 2008
http://news.bbc.co.uk/1/hi/business/7415559.stm

Did you read that article, seem to be fairly spot on to actually happened, saying oil speculators were behind a lot of the rise, but that high oil prices will be with us for a while
and what happened? the prices continued to shoot up for another 6 months or so, while the world economy was starting to look shonky, then had a big crash, then recovered and stayed high for a good 5 years.