Oil price drops

[funkyrobot]

http://news.bbc.co.uk/1/hi/business/7595293.stm

So, are the greedy bd energy firms going to pass this on to the customer?

They keep stating they have to pass on the cost when it rises. How about when it falls?

Doubt it though!

[abz]

funkyrobot said:

http://news.bbc.co.uk/1/hi/business/7595293.stm

So, are the greedy bd energy firms going to pass this on to the customer?

They keep stating they have to pass on the cost when it rises. How about when it falls?

Doubt it though!

you really have no idea where and how oil & gas companies make their profits then...

[off_again]

I just think its funny that I started watching that Panorama programme last night - they had some woman blithering on about the price of Oil will remain high for some time to come; maybe even years.

Ah, that will be the price of Oil threatening to dip below $100 a barrel then.

Ok, so its still high based on previous prices. But it clearly shows the volatility of the market and how this is still going up and down. But clearly there were a lot of people 'in the market' to make as much money as they could, with little care or concern as to what the long-term effects might be.

[Timmy35]

off_again said:

But clearly there were a lot of people 'in the market' to make as much money as they could, with little care or concern as to what the long-term effects might be.

Gordon Brown springs to mind....

[CooperS]

abz said:

funkyrobot said:

http://news.bbc.co.uk/1/hi/business/7595293.stm

So, are the greedy bd energy firms going to pass this on to the customer?

They keep stating they have to pass on the cost when it rises. How about when it falls?

Doubt it though!

you really have no idea where and how oil & gas companies make their profits then...

Go on then?

I presume when the cost goes down the energy companies maintain it for X period of time to regain any imediate losses that might of occured due to the sharp increase in the begining?

[dougc]

Bloody hell, he's taken it badly hasn't he?

[V6]

abz said:

funkyrobot said:

http://news.bbc.co.uk/1/hi/business/7595293.stm

So, are the greedy bd energy firms going to pass this on to the customer?

They keep stating they have to pass on the cost when it rises. How about when it falls?

Doubt it though!

you really have no idea where and how oil & gas companies make their profits then...

how about being useful as well as a tw@ and explaining it for all of us?

[dougc]

CooperS said:

abz said:

funkyrobot said:

http://news.bbc.co.uk/1/hi/business/7595293.stm

So, are the greedy bd energy firms going to pass this on to the customer?

They keep stating they have to pass on the cost when it rises. How about when it falls?

Doubt it though!

you really have no idea where and how oil & gas companies make their profits then...

Go on then?

I presume when the cost goes down the energy companies maintain it for X period of time to regain any imediate losses that might of occured due to the sharp increase in the begining?

Its my understanding that 1) no-one (apart from the energy companies of course) knows what the suppliers have paid on the wholesale market and 2) they bulk buy at a given price point depending on demand. A sudden drop in oil price will not be reflected in energy prices the following day.

[Exige77]

Oil prices in US$ may be falling but buying power of UK£ has fallen massively in last week.

2 weeks a ago £ bought $2 now just $1.77

Don't hold your breath waiting for the pump prices to start to tumble.

Maybe a little "Skip" !!

Ex77

[scotal]

dougc said:

Bloody hell, he's taken it badly hasn't he?

Nah, he's just forgotten to turn his Ipod off.... he's singing along to bat out of hell.

[GTIR]

abz said:

funkyrobot said:

http://news.bbc.co.uk/1/hi/business/7595293.stm

So, are the greedy bd energy firms going to pass this on to the customer?

They keep stating they have to pass on the cost when it rises. How about when it falls?

Doubt it though!

you really have no idea where and how oil & gas companies make their profits then...

I think abz is being ironic?

[funkyrobot]

scotal said:

dougc said:

Bloody hell, he's taken it badly hasn't he?

Nah, he's just forgotten to turn his Ipod off.... he's singing along to bat out of hell.

I thought that him and the bloke behind were being a bit ghey!