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fuel crisis conspiracy stories

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By (user no longer on site) OP   
over a year ago

Have you heard of any ?

I was speaking to some one earlier, who said it was all a conspiracy, as apparently some of the large firms have got there hands on a batch of cheap fuel, and have no storage space for it, and thats apparently why they kicked all of this off, so they can sell the existing stock quick and make room for the cheap fuel.

not sure how much truth there is to this, but thought i would share it with you.

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By (user no longer on site)
over a year ago

That's a myth as the quantities of oil needed to keep the UK's cars and trucks running are bought well in advance on the Futures markets. They'll have paid for the petrol we buy today over a year ago and if the price was low then they are raking in profits now, if it was high back then they won't be making so much on it but they'll still be making some sort of profit.

Futures markets work on gambling that the price you agree on today will be lower than the actual price on settlement day, if it is you sell it on at a profit but if you think it's going to go against you then you sell the contract on to minimise your losses but if oil prices drop below what you originally agreed on you'll lose on both trades.

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By (user no longer on site)
over a year ago

Only one conspiricy here, bunch of politicians pretending to be incompetant, and a bunch of fools who believe them so they panic buy fuel and create a crisis where there isn't one! at the same time they all blame the Union which happens to be a large one so on a per head basis they contribute a massive amount of cash to the other bunch of politicians....

Manipulation all round so that they can make childish jearing noises at each other next PM question time... saves talking about the economy or cash for dinners or ......

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By (user no longer on site)
over a year ago

Anyone else notice that when fuel went over £1 a litre in 2007, people called for the government to lower fuel duty and all of a sudden there was panic buying like now and all of a sudden people were prepared to pay £1 a litre happily just to get some fuel. Fast forward to petrol nearing £1.50 a litre and there are calls for the fuel duty to be lowered and guess what happens ??

In 2007 The Conservative leader, David Cameron, promised a “fair fuel stabiliser” - a proposal to limit the price of petrol that was part of the Conservative manifesto for the 2010 UK general election and was announced to be implemented following the budget of March, 2011. The “fair fuel stabiliser” which was meant to lower taxes levied on fuel as the price rose and raise tax as the price fell

looks to me like cameron and osborne are looking a bit 'pasty faced' these days.

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By (user no longer on site)
over a year ago


"Anyone else notice that when fuel went over £1 a litre in 2007, people called for the government to lower fuel duty and all of a sudden there was panic buying like now and all of a sudden people were prepared to pay £1 a litre happily just to get some fuel. Fast forward to petrol nearing £1.50 a litre and there are calls for the fuel duty to be lowered and guess what happens ??

In 2007 The Conservative leader, David Cameron, promised a “fair fuel stabiliser” - a proposal to limit the price of petrol that was part of the Conservative manifesto for the 2010 UK general election and was announced to be implemented following the budget of March, 2011. The “fair fuel stabiliser” which was meant to lower taxes levied on fuel as the price rose and raise tax as the price fell

looks to me like cameron and osborne are looking a bit 'pasty faced' these days.

"

Having a fair fuel stabilizer isn't a guarantee of ever low petrol prices. It can only operate on the price of crude at any given time.

If you research the historical price of crude oil you'll find that from it's peak in 2008 of $130/barrel it dropped significantly in 6-months to $31/barrel and it has continued to rise from that point on, with a slight dip back to $80/barrel in 2011 (which is when Cameron's fuel stabliser should have kicked in - and it did as petrol prices fell slightly), and then we see the prices rise until where we are today.

The fuel stabliser does work, and is working, but prices of crude oil are not remaining low enough for long enough to see a prolonged downturn in prices at the pumps, unfortunately.

The Coalition need to look at other ways of reducing the pence per litre consumers pay for fuel and that can only come from reducing the duty levied on it, but if George Osbourne does lower fuel duty it will only be a penny or two if and hardly have any impact of the cost of a full tank.

Personally, I can't wait until it is viable to switch to electric cars but they'll need to improve the recharge time and the distance one can travel on a full charge before I plunge in and get one.

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By *waymanMan
over a year ago

newcastle


"That's a myth as the quantities of oil needed to keep the UK's cars and trucks running are bought well in advance on the Futures markets. They'll have paid for the petrol we buy today over a year ago and if the price was low then they are raking in profits now, if it was high back then they won't be making so much on it but they'll still be making some sort of profit.

Futures markets work on gambling that the price you agree on today will be lower than the actual price on settlement day, if it is you sell it on at a profit but if you think it's going to go against you then you sell the contract on to minimise your losses but if oil prices drop below what you originally agreed on you'll lose on both trades.

"

You don't pay for a futures contract when you strike it, but on settlement day, which is when delivery is supposed to be effected.

You might want to look at the volumes of contracts traded as well - monthly and quarterly contracts are traded in much higher volumes than yearly futures.

You'll then encounter the rather odd phenomenon that more future contracts are traded than there is volume of oil capable of being delivered.

If you research futures further you'll find some intriguing evidence that spot and future settlement prices can diverge on the same day - which according to the market theory you so imperfectly understand shouldn't be capable of happening, but is.

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By *waymanMan
over a year ago

newcastle


"Anyone else notice that when fuel went over £1 a litre in 2007, people called for the government to lower fuel duty and all of a sudden there was panic buying like now and all of a sudden people were prepared to pay £1 a litre happily just to get some fuel. Fast forward to petrol nearing £1.50 a litre and there are calls for the fuel duty to be lowered and guess what happens ??

In 2007 The Conservative leader, David Cameron, promised a “fair fuel stabiliser” - a proposal to limit the price of petrol that was part of the Conservative manifesto for the 2010 UK general election and was announced to be implemented following the budget of March, 2011. The “fair fuel stabiliser” which was meant to lower taxes levied on fuel as the price rose and raise tax as the price fell

looks to me like cameron and osborne are looking a bit 'pasty faced' these days.

Having a fair fuel stabilizer isn't a guarantee of ever low petrol prices. It can only operate on the price of crude at any given time.

If you research the historical price of crude oil you'll find that from it's peak in 2008 of $130/barrel it dropped significantly in 6-months to $31/barrel and it has continued to rise from that point on, with a slight dip back to $80/barrel in 2011 (which is when Cameron's fuel stabliser should have kicked in - and it did as petrol prices fell slightly), and then we see the prices rise until where we are today.

The fuel stabliser does work, and is working, but prices of crude oil are not remaining low enough for long enough to see a prolonged downturn in prices at the pumps, unfortunately.

The Coalition need to look at other ways of reducing the pence per litre consumers pay for fuel and that can only come from reducing the duty levied on it, but if George Osbourne does lower fuel duty it will only be a penny or two if and hardly have any impact of the cost of a full tank.

Personally, I can't wait until it is viable to switch to electric cars but they'll need to improve the recharge time and the distance one can travel on a full charge before I plunge in and get one."

You need to be wary of data, especially if you're getting it from secondary sources.

The price of US crude (sometimes called WTI) did hit $31, but only on one day justbefore the 2008 Christmas holiday). Brent crude, on the same day, was about 20% higher at $38 a barrel.

By the turn of the year WTI was at $44 a barrel - Brent crude was actually cheaper than WTI at that point, reflecting Europe's longer christmas break.

Citing a seasonal effect, and not mentioning what might have triggered the plunge in oil prices sept to Dec 2008 suggests you're recycling other people's stuff and not really looking at the data.

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By *teborahCouple
over a year ago

warrington


"Anyone else notice that when fuel went over £1 a litre in 2007, people called for the government to lower fuel duty and all of a sudden there was panic buying like now and all of a sudden people were prepared to pay £1 a litre happily just to get some fuel. Fast forward to petrol nearing £1.50 a litre and there are calls for the fuel duty to be lowered and guess what happens ??

In 2007 The Conservative leader, David Cameron, promised a “fair fuel stabiliser” - a proposal to limit the price of petrol that was part of the Conservative manifesto for the 2010 UK general election and was announced to be implemented following the budget of March, 2011. The “fair fuel stabiliser” which was meant to lower taxes levied on fuel as the price rose and raise tax as the price fell

looks to me like cameron and osborne are looking a bit 'pasty faced' these days.

Having a fair fuel stabilizer isn't a guarantee of ever low petrol prices. It can only operate on the price of crude at any given time.

If you research the historical price of crude oil you'll find that from it's peak in 2008 of $130/barrel it dropped significantly in 6-months to $31/barrel and it has continued to rise from that point on, with a slight dip back to $80/barrel in 2011 (which is when Cameron's fuel stabliser should have kicked in - and it did as petrol prices fell slightly), and then we see the prices rise until where we are today.

The fuel stabliser does work, and is working, but prices of crude oil are not remaining low enough for long enough to see a prolonged downturn in prices at the pumps, unfortunately.

The Coalition need to look at other ways of reducing the pence per litre consumers pay for fuel and that can only come from reducing the duty levied on it, but if George Osbourne does lower fuel duty it will only be a penny or two if and hardly have any impact of the cost of a full tank.

Personally, I can't wait until it is viable to switch to electric cars but they'll need to improve the recharge time and the distance one can travel on a full charge before I plunge in and get one."

So you wont be getting one anytime soon then. Electric cars will only ever work around town.(bit like old milk floats) as and as towns are usually full of terraced houses where cars have to be kept on the street overnight it's going to be interesting to see how we are going to plug our scalextric cars into our 13amp sockets across pavements when its raining in the dark. Why is it whenever they demonstrate electric cars they show us a car parked in a garage or a driveway??. A good friend of mine recently took delivery of a prius, his words "biggest piece of shit he has ever had" I would still prefare to queue everyday and be prepared pay much more for my fuel before I would attempt to get from a to b in a childs toy. development of hydrogen is the only way to go.

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By (user no longer on site)
over a year ago

we are all just pawns,to be lied to by them in the commons,if they would all grow up and stop with the ,it was your fault no was not it was all yours ,they might get something sorted,lets sack the bloody lot of self interested Bs and start again .

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By (user no longer on site)
over a year ago

I am wondering if its all designed to make us grateful for just getting fuel even if it is £1.50 a litre

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By (user no longer on site)
over a year ago


"I am wondering if its all designed to make us grateful for just getting fuel even if it is £1.50 a litre "
good thinking ,that makes sence ,well done you

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By (user no longer on site)
over a year ago

I said it on the other fuel thread quoting Mark Twain

'In order to make a man or boy covet a thing, it is only necessary to make the thing difficult to attain'

Also the fuel has over shadowed the 250 grand dinner date with the P M.

Diversionary tactic?

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By (user no longer on site)
over a year ago

Breaking news: Unite rule out strike action over Easter to concentrate on talks.

~ Common sense prevails at last, but then the Coalition did a great job painting Unite as the bad boys in this.

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By *waymanMan
over a year ago

newcastle


"Breaking news: Unite rule out strike action over Easter to concentrate on talks.

~ Common sense prevails at last, but then the Coalition did a great job painting Unite as the bad boys in this. "

When did Unite ever say they would go on strike over Easter?

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