Why is it that fuel prices have dropped about 10% here whereas in UK prices are are a good 20% less. I think I know the answer but maybe I am just cynical!
Lets talk politics: I’m not totally convinced there was a direct deal, - more like them working in tandem towards conman objectives: regime change in Syria, and undermining Iran and Russia. But still Bill Engdahl and me reach the same endgame conclusions. “the secret stupid Saudi us deal on Syria, the oil gas pipeline war as the Kerry-Abdullah deal”
Now it looks a bit the politically responsible have shot into their own foot ;-)
So would I actually. Ironically the two of us finished a research report on child and youth migration in Cambodia last night for Save the Children. If everything is in a mess they wont get funding for the programme for the young people they wish to set up, the clothes factories making Levis and so on will cut back on workers, which means a lot of youth will lose their jobs and our three months of work will have been in vain trying to give them the best we could for Save to prevent them needing to go to Thailand and Korea for work, etc, etc, etc. Nothing we can do but shake our heads. On our own doorsteps it ain't that cotton pickin' brilliant either :-(
Many thanks for that Brian, I'd like to know and learn more.
Em, I wish my economics was just a bit better. I saw that the two big oil companies in the North Sea will lay off, but want the people to remain available for when they can be employed again. That sounds like capital protection, thus protecting loss of profits in turn shareholder dividends rather than the ups and downs of share prices. That is where I get lost, I have no idea whether that means they expect prices to recover, simply protect themselves or whether they simply do not know.
Note, I said QE as advised by the World Bank above. That is extraordinary because one would expect that from the IMF. However the WB intervening must mean they are trying to protect other (poorer) countries by advising keeping the main international currencies strong. That has a whiff of an anticipated global crisis and sure enough several of the world's main copper mining/producing countries are ones with precarious economies at the best of times. So, they saw it coming. QE to keep the € strong means they are asking the ECB for that to match Sterling and US$ central banks effectively printing money to maintain fluidity. In theory it can work but the USA is not actually doing that well despite picking up a bit. The UK, well in the lead up to a general election nobody will actually dare tell the truth. So I think I might delve into the FT, Wall St Journal and couple of others first thing tomorrow.
News has just said it could be end of yr before barrel gets bk up to $60 again. For if the prices rose too quickly, oil co's would be on a recruiting spree again. Is this a knee jerk reaction Brian, to lay people off so quickly or/and is it all about the shareholders?
That is the idea, QE following the World Bank advice the other day.
Now for Davos next week and do we get good or bad news?
Believe it or not, I am not a pessimist. I am simply getting fed up (and poorer) as these crises hit us. Not only that, but in the countries I have most frequently worked in the bottom is falling out of people's lives entirely. The tiny minority with 50% of the world's wealth can afford a few bob, but the many thousands, even millions, who will lose their livelihoods cannot. I seriously thought 2015 was going to be better, the last week or so has entirely shattered many people's optimism.
Could we see some more QE from EU and if so, what evidence of any benefit will we see? BP have been said to have been selling lots of their assets after that huge oil spill, to pay towards all the damage it caused.
Now news is saying the value of North Sea Oil is down 60% and copper prices still crashing. The Swiss central bank has scrapped the cap on value of CFr and cut interest rates which is causing panic among Swiss exporters and the tourism sector, it is now €1.31 to £1, €0.86 to $1, £0.66 to $1 and the ECB is about make big purchases of government bonds, thereby spending billions of € to fight deflation. Not good, not good at all.
The milk and dairy market is collapsing in the uk with forecasters predicting up to 50% of dairy farms closing down before the end of this year, no comment yet from the government.
Now stop and think if this is repeated here in france, Not something to look forward to.
Dr M. sure did predict it, however everybody has been busy running off in opposite directions to the path he described. There is a grave in Highgate Cemetery where the words 'Nja, nja, told you so' can be heard by people who take the bother to listen.
The SNB stops the minimum euro exchange rate of CHF 1.20. The euro and the stock market in Zurich sag. For borrowers of CHF difficult times could crack their illusive dreams. Haha, over 150 year another Charlie exactly predicted this to be happen if the capital can not re-finance itself. I love this! Those who always saw the comments of the super-clever journalists & analyst as what they are: JOKES will not have mortgages and other dependencies these days ;-)
Apparently the World Bank issued a market collapse warning overnight as banks and metal mining companies began to report huge losses. In the USA and China there are bad signs as suppliers of the copper, nickel and zinc they need for high tech production are losing up to (at least one) over 25% off share prices.
Great! That means that the rest of it get it in the neck like five and a bit years ago. Fuel prices are just one of our problems right now. Anybody else on this thread wishing to join in a big scream?
Morning, BP have just announced redundancies due to the fall in oil prices. The low price of a barrel of oil is now affecting the UK economy/employment in the UK. Will the oil prices go up again and if not, what will be the repercussion/s in France?. Unemployment is already high isn't it. It is already affecting the plastics industry and prob any other industries that use oil as an ingredient, so it won't be just the Total forecourts will it?
You're talking politicians there?
No, you're right, then there is nothing to dream about, rather to laugh ;-)
after having worked for the oil companies there is all ways enough fuel to supply demand, it just has to be profitable to get to it. both the big European oil companies are making vast profits a day which is being dumped into the governments kitty.
regarding going green have you ever wondered how much toxin are produced when building a modern car.
Dream on we are talking politicians here.
don't compare UK with France, there are also different fiscal regulations. In fact taxes should now being raised to the level of gains due to cheap oil and these profit should be invested in sustainable / renewable forms of energy, - but I think that not what you would like to hear....
There is also the environmental aspect of course (always the first to suffer under invented recessions), the UK administrations having ditched the fuel price escalator some time ago (I believe the French have only just done so and no doubt largely in response to heavy lobbying by hauliers and freight associations) along with their other greenwash credentials. Indeed one of the many reasons I am abandoning the UK is the penny pinching short-sightedness of most of its inhabitants (hard to reconcile with their willingness to pay absurd prices for food, travel and accommodation). Regardless of the cause, the current drop in oil prices is merely a short-term phenomenon. If you are really concerned about fuel prices then it might better to drive less, drive more economically and/ or use a more fuel efficient vehicle.
Another thing I have noticed is quite large differences in the supermarket prices over a small
geographical area which to my mind again points to the arguement "let us screw the customer for
as much as we can" being French they will pay it! Told you I was cynical.