Oil at a ridiculously low $49/Barrel

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Central_Hibee

Private Member
Joined
Feb 2, 2009
http://m.bbc.co.uk/news/business-30707638

And expected to fall further! Falling to this price is not really good for anyone. Would people be supportive of a temp hike in tax of 10p/litre to lessen the damage of lost jobs and revenue to the government?
 
Would people be prepared to pay more to buy british to supprort british jobs generally? I ran a poll once and the answer was a resounding no. It's always someone else's problem.
 
I read the treasury is making more money from the amount of extra petrol people are putting in there cars , so its not all bad , and as far as worrying about the very same people that have for years racked in billions of pounds of profit and have always put petrol up within an hour of oil increases ,but never the reverse while they line their coffers , I have no sympathy.
 
egb_hibs said:
Would people be prepared to pay more to buy british to supprort british jobs generally? I ran a poll once and the answer was a resounding no. It's always someone else's problem.
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I remember that poll but I don't remember the resounding NO. I definitely voted that I would happily pay more but posted a caveat that my choice was in regard to Scottish goods rather than British goods per se.
 
egb_hibs said:
Would people be prepared to pay more to buy british to supprort british jobs generally? I ran a poll once and the answer was a resounding no. It's always someone else's problem.
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Was that definitely the result? Not doubting you. Just pretty disappointed regarding folk on this board. Although, not massively surprised in a general populous sense. After what I saw in the referendum and in my life to date, I've noted a distinct shitey whiff of rotten selfservingism in the majority.

Yours, disappointed in humanity,
Me.

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On topic-ish; my view as to why Independence was viable was that we are not solely reliant on oil & gas revenues. If we were then I'd have thought twice about voting yes. But, to me, North Sea oil was the icing on the cake not the fundamental backbone of the Scottish economy.

So, even at $49 a barrel, I reckon we'd be OK. In an independent Scotland.

Thoughts?
 
Dub said:
I remember that poll but I don't remember the resounding NO. I definitely voted that I would happily pay more but posted a caveat that my choice was in regard to Scottish goods rather than British goods per se.
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That's my recollection dub , I'll try and find it
 
It was definitely a no majority. I remember an exchange with green sleeves in particular and my view that rabbiting on about labour interests was a bit hollow if accompanied with no willingness to support British labour through buying British goods.

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Brainwrong said:
Was that definitely the result? Not doubting you. Just pretty disappointed regarding folk on this board. Although, not massively surprised in a general populous sense. After what I saw in the referendum and in my life to date, I've noted a distinct $#@!ey whiff of rotten selfservingism in the majority.

Yours, disappointed in humanity,
Me.

- - - Updated - - -

On topic-ish; my view as to why Independence was viable was that we are not solely reliant on oil & gas revenues. If we were then I'd have thought twice about voting yes. But, to me, North Sea oil was the icing on the cake not the fundamental backbone of the Scottish economy.

So, even at $49 a barrel, I reckon we'd be OK. In an independent Scotland.

Thoughts?
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To be fair K one of the factors is people associate buying British with some kind of negative nationalism. Just another way the left has become diametrically opposed to labour interests as that's where such sentiments are born.
 
Tax already runs at somewhere around 70p a litre; the UK still pays just about the most for petrol etc. than almost any other country, certainly in Europe.

So that's a resounding no from me!

I also heard that oil consumption continues to fall, not sure if that was worldwide or UK. People were using the savings for other things.

On a related point, is the price of gas and electricity not tied/linked/indexed in some way to the cost of oil? I think it is. Where's the consumer price reductions for these utilities?

I'm sure if these extra profits weren't lining the pockets of the Boy David and his millionaires row our government would be on it like a shot, demanding price cuts for the needy (and the rest of us ;-)
 
The difference in what we pay and other countries is as you suggest largely , maybe wholly, tax - I suspect filling the state coffers is more on the agenda than lining pockets.

Be a strange move for Dave to buttress a main economic plank of independence.
 
egb_hibs said:
It was definitely a no majority. I remember an exchange with green sleeves in particular and my view that rabbiting on about labour interests was a bit hollow if accompanied with no willingness to support British labour through buying British goods.

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To be fair K one of the factors is people associate buying British with some kind of negative nationalism. Just another way the left has become diametrically opposed to labour interests as that's where such sentiments are born.
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I remember bits of the thread but don't recall the outcome. I would imagine though that most would say no thanks to the tax increase. One of those things where it is very hard to persuade people to take what seems like a hit when in fact the possibility is it will benefit them long-term. Kinda like the thread that has just started up about 20mph speed limits...

On a similar idea here in California there used to be a housing tax that went towards funding further education at The UC (Berekely, UCLA, UCSD etc) Universities. It meant tuition costs were fairly low. Middle class home owners voted to repeal the tax. 30 years on and all these middle class homeowners now find that their children or grandchildren are saddled with massive loans they had to take out due to the end of the subsidies.

Hmmm, having thought about the original idea a bit I see why some might not go for the tax on British Goods so much - its that 'trickle down economics' thingy. A tax on housing that goes to lowering tuition costs is more transparent than a tax on Goods where there's no guarantee that the benefit will go towards increased jobs or wages. Unless you had a caveat about that in your OP.

Agree with your oint about negative nationalism.
 
Rising cost of US education is mostly down to the oh so liberal US educationalists awarding themselves massive pay rises on a regular basis.

Compare the cost of US education now to, say, 30 or 40 years ago. That's where the difference has gone.

I can understand why people would be peeved at funding this jamboree through taxes. Especially those who had not benefitted from an Ivy League education and would have low expectations of their children doing so.

The avarice of US professors and the self protecting apparatus of a fairly closed system has priced out the less affluent as effectively as our statist system here. Depressing really.
 
I think air fares will drop in price. A boom for the tourist industry at least.


egb_hibs said:
Would people be prepared to pay more to buy british to supprort british jobs generally? I ran a poll once and the answer was a resounding no. It's always someone else's problem.
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Like others, I don't recall it being a resounding no.
 
May be completely unrelated, but is this bad news for russia? Their shares have been taking a tanking recently... paying for crimea?

Its all bollox really imho, production of oil is completely controlled. They can up it or lower at will.
 
emerald green said:
May be completely unrelated, but is this bad news for russia? Their shares have been taking a tanking recently... paying for crimea?

Its all bollox really imho, production of oil is completely controlled. They can up it or lower at will.
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No I think it's completely related.
 
It's comical here in the US the way they raise the petrol prices. Labor Day weekend, petrol gets jacked up $0.50 Wednesday night, same with Memorial Day, Thanksgiving and any other public holidays where people get in the car and drive.
 
It would be good if you could just buy a couple of barrels and keep them in the hut,then sell once the price goes back up :raisehat:
 
It'll no make any difference in edinburgh, 20 mph speed limit will mean you'll use more petrol so it'll end up costing the same.
 
Although the title is suggesting the current price is ridiculously low at $49 perhaps being at $115 six months ago was the ridiculous thing!

It was only 5 or 6 years ago oil was that price. What other commodity has more than doubled in that time?

The excuse for the high price was unrest in the Middle East, terrorism and the like. Well that's still raging on so that was a lot of shite.

Any other thoughts on why the oil price was ridiculously high?
 
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Anyway, dunno what all you crybabies are worried about.We were told that the broad shoulders of UKPLC would be able to protect us wee bawbags from fluctuating oil prices, so less whingin, bitte.
 
southfieldhibby said:
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Anyway, dunno what all you crybabies are worried about.We were told that the broad shoulders of UKPLC would be able to protect us wee bawbags from fluctuating oil prices, so less whingin, bitte.
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I have an uneasy admiration for the brass necked cheek of politicians. On a macro scale, you only need to watch daily politics to see that the red and blue tories and Libdem are all at each others throats because there is a GE coming up whereas a few months ago they were the bestest of buddies and were falling over themselves to agree that the apocalypse was coming if we voted YES. They are all self-serving hypocrites.
 
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