More on Oil Prices
A simulcast
I have been getting no responses to my questioning of the rises in oil prices over the last year or so. I have been questioning the sentiments behind the price rises for almost the whole of the year: not just a bandwagon. Here are extracts from an article in the FT from 4th August. I think it is telling for two reasons:
- language used
- the reasoning and its acceptance
The language used in the article reflects my concerns in my previous Blog entry on this subject: that is, the journalist is worried about falling prices; oil prices plunging and falling prices amid concerns over the global economy and its performance. Where is the hysteria that accompanied the stratospheric rises that the world suffered from as speculation fed the rise in crude oil prices? Nowhere!
Probably more importantly comes the reasoning behind the price rises: take a look.
This is what they say in the article, included here verbatim:
- Other factors pushing down oil prices included higher supplies from Opec, which mainly reflected Saudi Arabia's decision to boost its oil production to the highest level in more than 25 years.
- Some traders also expressed doubts about the strength of Chinese consumption, saying it had been artificially boosted by stockpiling ahead of the Olympics.
- However, traders warned against calling the end of the oil rally, since prices have oscillated between $130 and $120 for the past 10 days without a clear trend emerging.
These speculators who have probably traded misery over food prices and billions of dollars over the last year as they raped the world are now hiding behind falling prices but no one is pointing the finger at them. Except me of course.
From Oil falls as fears for growth intensify
Duncan Williamson
The Missing Link?
What links the following three gentlemen?
* Willie Wash: CEO of British Airways
* Michael O'Leary CEO of Ryanair
* Alan Joyce soon to be CEO of Qantas
Write to me at
blog@oxbow.org.uk to learn the answer if you don't already know it.
Duncan Williamson
!
Sent from my BlackBerry® wireless device
More Oil Price News
Have you seen the way that the fall in crude oil prices is being reported now: the price is slipping they are saying. Three weeks ago they were bemoaning the apparently inexorable rise in the price of crude ... implying it is such a bad thing. Now they are viewing it from the eyes of the investor who has bought at the top of the market and who is now suffering.
They are trying to claim now that demand for crude is reducing and that is why the price is falling back. The strengthening dollar is seen as a factor too. It’s hardly strengthened though has it? Just take a look at the current exchange rates and see if you think the Dollar has strengthened.
Duncan Williamson
MS Office Live
Microsoft Office Live looked like a good idea so I tried it. I uploaded some files, I created directories and I moved some files around. I uploaded word files, powerpoint files, excel files, jpeg files and pdf files.
All worked nicely so I thought I would share some files with a colleague.
It performed embarrassingly badly so that I had to write and apologise and promise never to try to send them my files in that way again.
Bill Gates has retired? He should never have been allowed to get away with his laughable systems in the first place if you as k.
DW
Oil Price
There is a story in today's The Gulf Today newspaper that says that the UAE will be significantly reducing its output of oil for 40 days later this year. This is so that they can carry out essential maintenance of their equipment.
That's the world's fifth largest oil exporter cutting output by up to 7.5%.
Did the price of oil rocket today? Has there been a price spike?
And they say recent surges in the price of crude oil is based on supply and demand.
My @rse!!!
Duncan Williamson
Sent from my BlackBerry® wireless device
Sky products
I have tried to upgrade to Sky+ today. I tried through interactive television and got an error message. It told me to call a number and did ... I spent ages waiting but for nothing.
I went online and logged in to try again. Two screens into the process I was given an error message and told to call a number.
I called the number and hung on for ages but no one wanted to or could talk to me.
I probably won't bother with Sky+ now.
Discuss this true story!
Duncan Williamson
Sent from my BlackBerry® wireless device
Economic Indicators
I have written before about my three key economic indicators for developing countries:
+ What the girls are wearing
+ What the boys are driving
+ How many houses, flats and offices are being refurbished
Take a look at the article in the FT today that gives neck tie sales as an indicator for the UK at the moment. Indicative of a down turn apparently.
Duncan Williamson
Sent from my BlackBerry® wireless device
