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| Hetzer |
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 Hetzer Super Spammer

Joined: 19 Feb 2007 Karma :     
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 Posted: 19:29 - 17 Oct 2008 Post subject: So, the price of a barrel of oil has halved... |
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...when are those scum going to halve the price of electricity and gas ("but electricity and gas prices are connected to the price of oil" they whined)?
Just like with gasoline, fvcking fast as sh!t off a shovel to put the prices up, but bring them back down? SO PROSECUTE THE SCUM-SUCKING FILTH MR BROWN!!!
No excuses, no bullsh!t, DO YOUR FVCKING JOB! ____________________ "There's the horizon! Ride hard, ride fast and cut down all who stand in your way!" |
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| WildGoose |
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 WildGoose White Van Man

Joined: 21 Mar 2002 Karma :  
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 Posted: 19:48 - 17 Oct 2008 Post subject: |
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Quite agree, I work for an animal feed merchant, and our suppliers have been whacking up their prices monthly without fail, putting the increases down to the price of raw material i.e. straight grains, wheat, corn, barley etc. Naturally the boss has had to pass this on to our customers, along with our hefty diesel bills for transporting the stuff, customer numbers dropping like flies.
Now that grain prices are supposedly falling, will we see those prices falling? I doubt it somehow.
I have read that it takes 6 weeks for the falling oil prices to reach back to the pumps, and we do seem to be seeing this now, but all things being equal by rights, petrol should be hitting mid 80's pence per litre if its as simple as they make it sound.
I didn't think we would see it go back below the pound due to all the faff of having to change the neon price boards outside the stations, sounds like all the excuse they need to never let us have a litre for less than a quid again.
As for electricity and gas, fuck knows how they calculate that, glad my house is small, bloody rip off. Someone somewhere is getting a fattened wallet. ____________________ So in other words, he stopped you for being flagrantly in posession of a motorcycle in direct contravention of the Hippies, Darkies and People Whose Face I Don't Like The Look of (Police Powers) Act. 1976 |
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| WildGoose |
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 WildGoose White Van Man

Joined: 21 Mar 2002 Karma :  
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| Al |
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 Al World Chat Champion

Joined: 26 Feb 2006 Karma :   
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| JonB |
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 JonB Afraid of Mileage

Joined: 03 Jun 2004 Karma :  
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 Posted: 20:39 - 17 Oct 2008 Post subject: |
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Itchy has his heart in the right place, but he gives scaremongering a whole new name altogether.
Gas and electricity companies have gone quiet recently. They're probably all sunning in the Carribean with their fat wads of cash in tow. ____________________ Be careful whose advice you buy, but, be patient with those who supply it. Advice is a form of nostalgia, dispensing it is a way of fishing the past from the disposal, wiping it off, painting over the ugly parts and recycling it for more than it?s worth. |
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| Hetzer |
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 Hetzer Super Spammer

Joined: 19 Feb 2007 Karma :     
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| Phoenix |
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 Phoenix Twisted Firestarter

Joined: 01 Aug 2002 Karma :    
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| Hetzer |
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 Hetzer Super Spammer

Joined: 19 Feb 2007 Karma :     
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 Posted: 00:58 - 18 Oct 2008 Post subject: |
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| Phoenix wrote: | The UK is bankrupt as a nation, we owe more pounds than there are stars in the universe, i've seen the accounts and the truth would make you kill yourself.
/Itchy
If petrol prices dropped to what they were the last time oil was this cheap (factoring in exchange rate changes) then it'd almost look like the government/oil companies/whoever where being mildly honest, which ofcourse would never be true, so they're staying inflated, they'll go back up again soon. Nice to see while ASDA and Morrissons dropped their prices to 99p Tesco kept theirs at £1.10 a litre, guess they figured a couple of days at the old rate while their costs have halved would net them a nice tidy profit while spending is at an all time low, they'll drop them just before they start to look too greedy. |
And these cvnting scum in govt hand over billions of our money to the criminal vermin in the banks and do absolutely nothing to regulate the blatant profiteering of the gasoline and energy companies. It's beyond outrageous. It's so blatant they might as well stand in front of us, sneer and go "What the fvck are you going to do about it? Huh? You mugs!"
A bitterly cold winter, millions unable to afford to heat their homes, followed by mass rioting. Something's got to galvanise the masses. ____________________ "There's the horizon! Ride hard, ride fast and cut down all who stand in your way!" |
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| Glen |
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 Glen Spanner Monkey

Joined: 15 Nov 2006 Karma :     
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| Aikman666 |
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 Aikman666 World Chat Champion

Joined: 20 Dec 2004 Karma :     
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 Posted: 01:38 - 18 Oct 2008 Post subject: |
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If you like the morality of oil companies. Heres one for you:
For the protection of my own ass im going to keep this completely hypothetical
Theres a drilling & exploration unit out at sea currently. Its a mobile, bi-podal drilling & exploration unit, reffered to as a "gorilla class" unit. Recently this unit was hit by a supply boat suffering from malcfunctioning mauevering thrusters (so the report said). This caused the platform to obviously sway quite a bit off axis - and a fair amount of damage. This is where it gets interesting.
There apparently is a bit of a loophole. If they perform the safety checks done and a problem is found then the entire unit has to be moved to drydock immediately for repairs. Meanwhile there is nothing pressing them to make said check (but unofficial estimates put the damage to the unit at around £14 million - who knows!).
The simple fact of the matter is - if that unit sank, killing everyone onboard, they could pay out ALL of the compo, all the insurances - for less than what their loss would be for the time it would take to repair the thing.
Really they are weighing up the costs of peoples lives versus their profit margins. Thats not cricket - It just shows, people are nothing but numbers to the guys at the top. ____________________ Will work for petrol
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| D O G |
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 D O G World Chat Champion

Joined: 18 Dec 2006 Karma :     
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 Posted: 14:08 - 18 Oct 2008 Post subject: |
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| Hetzer wrote: | "No, it doesn't work in reverse, due to how we buy on the futures." (whatever the fvck that means).
Radio-2, The Jeremy Vine Show.
Shameless lying criminal filth. |
I'm assuming (and playing devil's advocate here), that he is hinting at the fact that they bought a stupid volume of gas/oil on a future contract (effectively fixing the price for them for x number of barrells/cubic metres etc), when prices were high, and there appeared to be no sign of them dropping.
Remember all that cuffuffle 3 months ago when people were saying we were at peak oil, and the world was going to end etc. It was these futures which were driving the oil price up massively. Companies genuinely believed that the oil was at a peak, and they would have to secure as much as they could.
Hence they bought futures at the high point in the market, which will affect them for up to a year or more. I had a client who bought steel on future contracts, which was still affecting their profits 18 months later.
He is kinda saying they fucked up.
The only winners in the oil price surge are the future traders who sold at $120-130/barrel and are now able to settle those at $80/barrel. Big bonuses for them this year.
Business, and the management of large businesses is very complex, with a large number of variables and potential unforseen circumstances. They are not always trying to screw people over (in fact I have not met any members of senior management of businesses who are trying to do that), sometimes they just make mistakes.
Now, having said this, he may well be talking out of his arse, knowing that the energy industry is an oligopoly, which has inherent price fixing, and as such needs to defend the position of not lowering prices. In such markets (with few suppliers and a virtually identical product), if one company lowers prices, then everyone else has to. The 'trick' is not flinching first, thus maximising profits at the higher sale price before people undercut you, and you have to follow their price drop. |
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| D O G |
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 D O G World Chat Champion

Joined: 18 Dec 2006 Karma :     
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 Posted: 14:15 - 18 Oct 2008 Post subject: |
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| Aikman666 wrote: | The simple fact of the matter is - if that unit sank, killing everyone onboard, they could pay out ALL of the compo, all the insurances - for less than what their loss would be for the time it would take to repair the thing.
Really they are weighing up the costs of peoples lives versus their profit margins. Thats not cricket - It just shows, people are nothing but numbers to the guys at the top. |
You miss a major consideration, which is bad publicity, and the serious effort in resolving the compensation issues.
It seems that everyone who does not have any experience with senior management just wants to paint them as total arseholes, which, from my experience is not the case. Arseholes are, in my experience, equally distributed throughout the population.
An organisation who has sufficient resources to own a drilling platform would not consider $14m a big deal, particularly when there would be a potential insurance claim against the vessel which hit it.
This sounds to me as a bit of a rumour started by disgruntled and bored people looking to have a dig at the 'people at the top'.
Genuinely, I wonder why people think that being in a senior position automatically makes you a heartless, money grabbing piece of subhuman filth.  |
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| map |
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 map Mr Calendar

Joined: 14 Jun 2004 Karma :     
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| D O G |
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 D O G World Chat Champion

Joined: 18 Dec 2006 Karma :     
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| Itchy |
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 Itchy Super Spammer

Joined: 07 Apr 2005 Karma :     
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 Posted: 16:04 - 18 Oct 2008 Post subject: |
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| Damofo D.O.G. wrote: |
The only winners in the oil price surge are the future traders who sold at $120-130/barrel and are now able to settle those at $80/barrel. Big bonuses for them this year.
Business, and the management of large businesses is very complex, with a large number of variables and potential unforseen circumstances. They are not always trying to screw people over (in fact I have not met any members of senior management of businesses who are trying to do that), sometimes they just make mistakes.
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was going to type what you were going to say, except that the difference is there is no moral hazard...
In that if you hedge/bet wrong you keep prices high and get your 'losses' back from the consumer thus you still make the profits to keep your EPS high.
If you bet right you have lower input costs and your prices are still kept high , and thus you again win.
| Damofo D.O.G. wrote: |
In such markets (with few suppliers and a virtually identical product), if one company lowers prices, then everyone else has to. The 'trick' is not flinching first, thus maximising profits at the higher sale price before people undercut you, and you have to follow their price drop. |
What I think you meant to say was that was that representitives of the board for the energy companies all get together and agree an illegal cartel , since Germans and French own the UK's energy policies its a case of the exes at Eon phoning up the exes at EDF (ie the french government) and saying say old boy fancy screwing those silly roast bifs?.
Ja / Oui is usually the answer. ____________________ Spain 2008France 2007Big one 2009 We all die. The goal isn't to live forever, the goal is to create something that will. In the end, your life will flash before your eyes. Make sure it is worth watching. |
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| Itchy |
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 Itchy Super Spammer

Joined: 07 Apr 2005 Karma :     
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 Posted: 16:15 - 18 Oct 2008 Post subject: |
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| Phoenix wrote: | The UK is bankrupt as a nation, we owe more pounds than there are stars in the universe, i've seen the accounts and the truth would make you kill yourself.
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anybody see that news story about the US debt clock running out of numbers?
Debt (taken from the CIA fact book)
Rank 1 United States $ 12,250,000,000,000 30 June 2007
Rank 2 United Kingdom $ 10,450,000,000,000 30 June 2007
Considering we have 1/5 the population yet about 80% of the debt , that looks like trouble to me, as a country we also have some nasty hidden debt like PFI , and civil service pensions.
Just to put this into context the 2007 entire UK tax take was about £550,000,000,000 and falling , I would convert it to $ for you but the numbers are too big for excel without displaying E signs.
Also to others if I knew what was going to happen I would be seriously wealthy in that not all the ingredients are there for hyper inflation.
Ie the massive inflation of the 70s was coupled by massive wage increases 3-4 times a year people would get big pay increases..8-10% was not uncommon.
Also that since the 1980s there has been a movement to index linked debt , which means you cannot use inflation to erode your debt, probably because creditors don't think its fair to get £90 in purchasing power when they loaned you £100.
Yet M4 is increasing constantly and the government keeps printing out more money for bank bail outs.
The third way is stagflation which is probably even worse.
What this means to you is massive tax increases after the next election, ____________________ Spain 2008France 2007Big one 2009 We all die. The goal isn't to live forever, the goal is to create something that will. In the end, your life will flash before your eyes. Make sure it is worth watching.
Last edited by Itchy on 16:20 - 18 Oct 2008; edited 1 time in total |
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| Kickstart |
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 Kickstart The Oracle

Joined: 04 Feb 2002 Karma :     
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| Itchy |
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 Itchy Super Spammer

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| Kickstart |
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 Kickstart The Oracle

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| Hetzer |
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 Hetzer Super Spammer

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 Kickstart The Oracle

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| sickpup |
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 sickpup Old Timer

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 Hetzer Super Spammer

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 Hetzer Super Spammer

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| Silver |
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 Silver World Chat Champion

Joined: 03 Oct 2004 Karma :   
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Old Thread Alert!
The last post was made 17 years, 328 days ago. Instead of replying here, would creating a new thread be more useful? |
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