Wednesday 15 October 2014

Oil: $83 and the Pips are Squeaking

Wow.  Oil fell off a cliff this morning, touching $83.5 at around 09:00.

And the pips are starting to squeak.   "Saudi billionaire Prince Alwaleed bin Talal said the world’s top oil exporter should start worrying", calling the situation "catastrophic".

As well he might.  They won't exactly be looking forward to bringing the news into Putin's office, either.

But I smiled this morning, to read the following from Dr Doug Parr, chief scientist at Greenpeace UK (sic): “the biggest problem for gas in the UK right now isn’t the changing energy mix, it’s dirt-cheap coal”.   Doug doesn't seem to be a fan of cheaper electricity.  Oh, how everyone loves high prices.

Me?  I'm a consumer.



Steven_L said...

And dec $90 puts were trading for next to nothing when you first started banging on about this ND, so I hope you filled your boots (and wish I had).

Electro-Kevin said...

The same people don't seem to be fans of cheaper beer, cheaper cigarettes, cheaper sugar - cheaper anything.

We'd all be better off without these bores.

Elby the Beserk said...

I often note to people that the two major factors in providing the extraordinary degree of comfort that even the poorest in most of the Western world enjoy are Capitalism and fossil fuels.

Am yet to have anybody rebut this. It's a handy simple way to shut greenies up. That and sending them down in submarines to be attacked by giant squids...

Electro-Kevin said...

Do you know what, Elby ?

For some unknown reason I googled 'Giant Squid' today and watched this very video.

Enlarging on this matter - having posted that I think my job is at risk - I was going to add:

I don't care. My role model is Elby the Berserk. He has nothing more in life than an adoring wife, new hips and a couple of faithful hounds. What more does a man need ?

Budgie said...

Good for you, Elby.

Also we need to remember in future that Greenpeace, the BBC and others of the establishment fell hook line and sinker for the CAGW hysteria. Anyone old enough can remember the assurances from the experts that oil would run out by 2000, and anyway we would be in the new ice-age by now.

Elby the Beserk said...

Best to ignore experts :-) Bar our in-house team, of course!