Big Den

Can't believe what I just heard on BBC24 Business News!!!!

The repercussions of the devestation caused by hurricane Katrina have resulted in a 10% loss in US petrol production - petrol prices are rising fast & have reached +$3 in some states with many places seeing panic buying.

They then said that as a result of the US position CRUDE oil prices are rising on both sides of the Atlantic and the UK is likely to see petrol prices rise as a result.

What's the crack? America suffers, so the rest of the world has to feel some pain aswell - ffs. apparently ~10 tankers are being despatched with oil from Europe to the US to "help with the shortage"

Doesn't this just make you mad - no wonder more & more people in the world dislike America and it's selfish attitude.

No-one likes to see suffering & devestation but come on give me a break!!

Den

Iwan

I say we all boycott Esso stations on the same day, that'll force them to reduce prices.

TelBoy

Hold on. They lose refinery capacity due to a ****-off great big hurricane and you label that "selfish"??

Go on, you've lost me there, please explain.

ALi-B

iTrader: (1)

I thought all the oil was in Texas

ozzy

What I don't understand is why does it push our price up? Shouldn't it just make American Oil more expensive to buy

Do we actually import that much Oil?

TelBoy

No, but America will now have to pay to make up the shortfall in refined products. 10% of the refining capacity that they've lost is huge in global terms. It will have a knock-on effect around the world. Scary that the whole system is so susceptible though. No wonder they wanted control of Iraq.

Iwan

IIRC oil from different parts of the world is very different, with different ratios of component parts. So while oil from one place is good for refining into petrol, it might be crap for making chemicals/plastics etc (or vice versa).

I'm sure I remember reading somewhere that north sea oil isn't good for making petrol, so we have to rely on importing oil from the middle east and US for making petrol (since it's better for that - apparently).

Please correct me if i'm wrong.

unclebuck

Global economy....

SiPie

Go look at a map

Texas/Louisiana = Neighbours

ozzy

Apparently the stuff refined for Petrol at the BP plant in Grangemouth (Scotland) is from the North Sea ... unless someone knows better.

ozzy

I realise that, but is it THAT simple. I mean it should still be basic import/export pricing based on supply & demand.

Our oil is drilled here, refined here, so why should our local prices go up?

Someone's on the take and looks like we pay for it.

lightning101

Well fuel only costs 15p a litre and 75p tax, but does anyone know where this fuel tax is spent ?

Big Den

Telboy

I think you have misunderstood or perhaps I didn't phrase it correctly.

My comment about America being selfish wasn't restricted to this particular issue but their general attitude

Wasteful & uneconomical on energy use incl. petrol
No commitment to reduce global warming
If they don't have it - they'll take it
High % of Americans are obese or overweight because they are greedy
They always think they are better than everyone else
etc
etc
etc

When on holiday last year I heard several americans comment indifferent conversations that if country x didn't do what America told them to "we'll just invade them" - this sums up there atttitude IMHO!!

I'll bet if the rest of America economised until the devestated areas had a chance to begin recovery, saving fuel etc, that the impact wouldn't be as great with regard to the 10% loss of refinery capacity.......

But Noooooooooooo, what do they do all start buying as much petrol as possible in case they can't get any - hence supply v's demand - hence price of petrol rises - also demand for oil goes up & subsequently the price goes up, then petrol goes up.....

Definate pattern there

Gets off soap box & goes to make a cup of very sweet Tea.

Den

dsmith

"import/export pricing based on supply & demand"

American demand = constant
American Supply = reduced

So yes, global oil prices rise.

farmer1

Oil prices are directly proportion to demand, if the amount produced goes down the relative demand goes up there fore prices go up.

Simple.

ALi-B

iTrader: (1)

Yes but Texas wasn't affected by the hurricane

go post something productive for once rather that nit pick

Patt@firstime

Me and someone at the office were just saying that this might happen

Matt

Big Den

What, that SiPie & Ali-B would have a handbags moment?

Den

dmc1980

None of this makes any difference to the fact that we are paying so much tax on our fuel. Its got **** all to do with the price of oil, its all to do with our sh1te government putting so much duty in fuel. The french government have agreed to reduce fuel duty because their people kicked up that much about the price, so why cant are w4nkers of governement do the same! rant over

ozzy

But we've far better education, health services and public transport, so your sacrifice on fuel tax is being well spent ...

TelBoy

Because they know motorists will pay any price for it in the end. Why waste money reducing the tax when you can watch and laugh at self-defeating protests instead. You'd pay £2 a litre for petrol tomorrow if you had to, and they know it, they've seen the evidence.

Big Den

FFS guys please don't take this down the usual political road!!

The old for & against Tony Blair & his boys argument!!!

It's getting a bit tedious IMO

Den

dmc1980

F4uck the education etc. Im sick of having to pay for it for everyone else. There are too many lazy b4stards in this country who dont work, drive or anything and we pay for everything for them. Privatise the heap and let the w4nkers suffer.

Big Den

Are you by any chance having a bad day m8?

Den

ozzy

Oh, get you.

If we pay high fuel tax for a good reason I'd like to know how it's spent and what benefits it has. If you're not bothered then don't compain about very high prices.

dmc1980

I guess i am, but everywhere you turn, there is more and more people f4ucking the system and we are paying for it. Its us at the end of the day that pays for everything these ****s get, right down to their bus pass (which will go up if the fuel rices goes up). Just really sick of it, everytime you think you are getting somewhere in life they beat you back down again with even more costs!

Big Den

Oooooh Ozzy

Of course I'm bothered about high prices as I am also a thrifty Scot but, my thread wasn't a complaint about the price of UK fuel persay - more the fact that the current US issue was going to influence UK prices.

Why should we be penalised cos America got a blow job!!

Den

dmc1980

But it is realted to the government in the UK. Other countries in the EU are reducing the tax on their fuel because of the global oil price, but the w4nkers here wont do a thing!

ozzy

Blow jobs from any uninvited large woman are always a risky business

imlach

It's not 75p of tax...perhaps you might like to explain how....
Try more like 60p (48p being the fixed fuel duty amount, and about 12p in VAT).