Oil prices

[devon TWiG]

We have all seen the price of petrol and diesel fall at the pumps ( good ) but has chain oil fallen by much , ( I bought in bulk when the price was high !!doh ) Also have the cost of flights , especially long haul fallen much ? if not why ... heating oil I have been told is now very cheap , so less people wanting logs ( mild weather also causing this ) Also hearing today about low prices having a big effect in Aberdeen , and problems developing in Norway as well ...... I have heard oil "experts" predicting price rises BUT did any of them predict the current situation a while back ? ...

[Mick Dempsey]

Strange isn't it? I had a guy work for me a few years back who was preparing for the oil to run out. You know the sort of thing, growing vegetables obsessively, anticipating complete breakdown in society.

Probably drives a Hummer now.

[Les Cork]

All blenders buy in advance in bulk so are working thru material bought some time ago.

[Johny Walker]

$27 a barrall !!!!!!

[FatherJack]

Being one of those associated with the offshore oil and gas industry, I can confirm that the industry is well and truly knackered worldwide. During previous downturns one could always find work somewhere in the world, but now - no chance I feel for the younger folks with big mortgages etc and having to change carreers.

 

Be interesting to see if RATS (Rope Access Technicians) start looking for work in this industry.....................

[devon TWiG]

Just imagine if Scotland had voted for independence , it's fiscal plans were based on high oil prices !!

[Rye Oil Ltd]

This current slide is astounding. If you have oil fired central heating you are laughing. I don't see the big energy companies falling over themselves to bring the price down.

As for chain oil unfortunately most chain oil is made using group 1 base oil, the price of which has not fallen with the crude price because of the closure of a few big refineries on the continent. Keep posted though because the reduction in price of raw material has to have an impact eventually.

[easy-lift guy]

I heard on the news today that by years end 1/2 of the US fracking companies would be out of business. I believe that if the house of Saudi is unable to control all of the fracking industry the gamble to once again regain their monolopy will be in serious jeopardy.

Only so many dollars stock piled and when they run out of funds the native population may have to actually have to work to earn a living or face such a reduction in their lifestyles that a revolt may ensue against the government.

easy-lift guy

[Commando]

I heard on the news today that by years end 1/2 of the US fracking companies would be out of business. I believe that if the house of Saudi is unable to control all of the fracking industry the gamble to once again regain their monolopy will be in serious jeopardy.

Only so many dollars stock piled and when they run out of funds the native population may have to actually have to work to earn a living or face such a reduction in their lifestyles that a revolt may ensue against the government.

easy-lift guy

 

 

Some wise words there ELG. It's a big game of poker!! Who has the balls and funds to see it out until the end!

[easy-lift guy]

Some wise words there ELG. It's a big game of poker!! Who has the balls and funds to see it out until the end!

 

Agreed, just how deep the pockets are with them folks is anyone's guess:confused1:. I was told by a reliable source that the government was actually floating bonds for the first time in the countries history to off set the reduction in oil revenues. 2016 will prove to be another one of those years for the history books with lots of asterisks for many dates!

easy-lift guy