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Oil Price

the key word is  could lead.........not will lead.

 

IEA chief economist Fatih Birol expressed his own concerns: "We see and hear about energy investments being delayed . This is a major worry and could lead to a supply crunch and much higher oil prices than we've seen before."

 

Short term blessing for long term? I think it is a short blessing for a major energy crisis to come. High oil price is ironically good in the sense that people start to think of other energy alternatives. Otherwise people will be forever be complacenet thinking oil will forever flow out from the oil wells.

One should understand if there is no investment in the energy industry or into other alternative energy, we will have a oil crisis. 

 

Just sharing my tot, it can be a short term blessing for several years to come as less demand for good and services, less oil is use as global prolong into recession, starting with US, Japan year end German & EU next year, S.E.A, near zero growth, China 4-5% from 8-10% growth

 

I just type the first 2 paragraghs

Busines Times 14 November, 2008 - IEA Warns of Impending Energy Crunch

Risk of new energy crisis if investment pullback continues

It will require more than a trillion dollars in annual investments to find new fossil fuels for the next two decades to avoid an energy crisis, the International Energy Agency warned.

The warning from the agency comes at a time when major oil companies are pulling back investments during one of the most severe economic downturns in a generation.

The other potential crisis I see is food

Livermore      ( Date: 14-Nov-2008 19:47) Posted: Hope you read the IEA report in today's business times. This global credit crisis is really a perfect set up for that potential oil crisis because when companies and countries scale back their investments in the energy industry due to the global economic crisis, it is going to be too late when the global economy recover. Time is running out....

 

Hope you read the IEA report in today's business times. This global credit crisis is really a perfect set up for that potential oil crisis because when companies and countries scale back their investments in the energy industry due to the global economic crisis, it is going to be too late when the global economy recover. Time is running out....

 

Ha ha, those CO stored in the reseved tank in the refinery were purchased much earlier, with higher prices. The refinery unable to peg the current price with those made earlier to make a loss. However, in time to come, it the avg prices meet the reduction in retail price, then most likely they will do it.

 

Traded below USD 38, within this year, would that be possible?

teeth53      ( Date: 14-Nov-2008 08:34) Posted: Below 55/- Our pump price has not even shed even 1/3 it px, now trading at about S$1.70cents after discount, room for further discount....Ya. Prices have now shed about 60 percent since scaling historic highs above 147 dollars in July on mounting evidence of slowing global economic growth and energy demand. http://sg.news.yahoo.com/afp/20081112/tts-commodities-energy-oil-price-c1b2fc3.html On London's InterContinental Exchange (ICE), Brent North Sea crude for delivery in December plunged to 54.92 dollars per barrel -- a level last seen on January 30, 2007. Brent later stood at 55.94 dollar, down 3.14 dollars from Monday. At the same time, on the New York Mercantile Exchange (NYMEX), light sweet crude for December tumbled to 58.32 dollars, the lowest level since March 21, 2007. The contract was later down 2.91 dollars at 59.50 dollars. Crude oil prices on Tuesday extended earlier losses after Wall Street fell in opening trade, with investor sentiment unsettled by fears about a collapse of General Motors and more poor corporate news amid the credit crisis. European stock markets also closed sharply lower on Tuesday as news of more corporate problems highlighted concerns about the spreading damage from the global credit crunch to the underlying world economy.

 

Below 55/- Our pump price has not even shed even 1/3 it px, now trading at about S$1.70cents after discount, room for further discount....Ya.

Prices have now shed about 60 percent since scaling historic highs above 147 dollars in July on mounting evidence of slowing global economic growth and energy demand.

http://sg.news.yahoo.com/afp/20081112/tts-commodities-energy-oil-price-c1b2fc3.html

On London's InterContinental Exchange (ICE), Brent North Sea crude for delivery in December plunged to 54.92 dollars per barrel -- a level last seen on January 30, 2007. Brent later stood at 55.94 dollar, down 3.14 dollars from Monday.

At the same time, on the New York Mercantile Exchange (NYMEX), light sweet crude for December tumbled to 58.32 dollars, the lowest level since March 21, 2007. The contract was later down 2.91 dollars at 59.50 dollars.

Crude oil prices on Tuesday extended earlier losses after Wall Street fell in opening trade, with investor sentiment unsettled by fears about a collapse of General Motors and more poor corporate news amid the credit crisis.

European stock markets also closed sharply lower on Tuesday as news of more corporate problems highlighted concerns about the spreading damage from the global credit crunch to the underlying world economy.

 

 

yes, if not the white kena elected.:)

cyjjerry85      ( Date: 27-Oct-2008 15:34) Posted: oil price currently down to $63+...do u think we will see it drop to $59.99 this week?

 

http://www.channelnewsasia.com/stories/singaporelocalnews/view/387349/1/.html

Oil px fall, float at US$69, oil pump fall by another 5cents yesterday at Caltex, ExxonMobil and Singapore Petroleum Company (SPC) stations were lowered a further 5 cents per litre on Monday.

This came as global crude oil prices continued their downward slide.
ExxonMobil led the way by reducing prices at noon, followed by SPC and Caltex at 1pm.
Premium 95 grade now stands at S$1.746 a litre, while the price of diesel is reduced to S$1.503.
Petrol prices have been adjusted across all service stations for the three brands.
This is the 11th consecutive drop in pump prices since July.
.

 

Drop in oil price is due to the slower global demand.

In this situation, while it is good for consumers, the drop in oil price isn't a good sign for the global economy. 

 

oil price currently down to $63+...do u think we will see it drop to $59.99 this week?

 

Captive markets for public transport and utilities companies - no one can do anything now with the support of a price adjustment mechanism...it will go up in good times and hard to come down in bad times.... What is the meaning to the man in the street even if these companies make tonnes of monies ?  how many commoners can own  the shares ? In my view, government should rethink for these companies ...where is the competition ? Can it be a stat board function to ensure correct pricing to cover operating expenses and reward good administrator in accordance with civil servants ? Degree of gratitude by its citizens on these two companies is the CEO's KPIs.. 2 cents worth.........

 

Last night I was watching Channel News Asia and there was a programme already discussing about the food problem facing some parts of the world. But right now attention is focussed elsewhere.

Livermore      ( Date: 23-Oct-2008 22:23) Posted: The two challenges the world could face in future are going to be energy and food.

 

This time 82% higher than in Hong kong, somemore we strike deal for gas agree upon many donkey years back...cheap px. Here we paid 31cents/unit, in Hong Kong is 17 cents/unit and both operated on the same business model, unless Hong Kong get it oil extremely cheap..Ya

Electricity talk..i believe our point man is very much living on us, very comfortable..Ya.

teeth53      ( Date: 21-Oct-2008 19:05) Posted: Yet another lousy explaination. This time from...the word Arbitrary from dictionary it mean 1. based on opinion or impulse, not on reason 2. dictatorial; using despotic power. Don't treat us like childrens..Ya. We got brain and common sense... Another blunder...still enjoing and living in comfort with tax payers $$$$. Noted: oil prices movement move so very fast up and down, so some form of (better) mechanism has to be put in place to be work out, rather then reliance on old system. teeth53      ( Date: 17-Oct-2008 19:49) Posted: Another blunder...isit ?. This whole idea about me mentioning below is to bring out our current sytsem that working against all of us, weather we are retail users or those making those implementaion process, Noted: oil prices movement move so very fast up and down, so some form of (better) mechanism has to be put in place to be work out, rather then reliance on old system. "tariff hike goes against common sense" going up by 21% ++ for this Q. Oct-Dec 2008. Bad news....Ya. Working on US155 per barrel. on the revision in the electricity tariff, a more common sense idea approach to sell it tariff increases (none option) to all general public and it citizens need to be more elaborated. I believe some may not afford to pay more for those poorer citizens when those bills reach them this 4th Q (Oct - Dec 2008). Another word what..those (who) BBs for years is trying their very best effort to put for...for the benefit of it citizens, sort of it is going down the drain some how, some what. That's what reminded me of those ping pong incident.

 

Imagin the moon being cut up bit by bit....

AK_Francis      ( Date: 24-Oct-2008 00:57) Posted: dun worry, on 22 Oct , India lunched its rocket to Moon to find oil alternavtive minerals which can sustain world energy supply for 8000 yrs. Livermore      ( Date: 23-Oct-2008 22:23) Posted: The two challenges the world could face in future are going to be energy and food.

 

dun worry, on 22 Oct , India lunched its rocket to Moon to find oil alternavtive minerals which can sustain world energy supply for 8000 yrs.

Livermore      ( Date: 23-Oct-2008 22:23) Posted: The two challenges the world could face in future are going to be energy and food.

 

The two challenges the world could face in future are going to be energy and food. 

 

There was a really good article some time ago written by the chairman of a major oil company here on the problem of energy demand in the world going forward. If this problem is underestimated, the consequences would be tremendous.....