Oil/Fuel? - Page 2

jmc41 · 10-10-2008, 23:54

I wonder if BG, eDF and npower (and so forth) are going to remove the 35% increases they put in recently.

I meant they only made ~£350m profit last year, poor chaps.

Matblack · 11-10-2008, 00:03

I suspect that without the raises they would have made a loss, that's a bit of a guess but I suspect they wouldn't have made much profit, that's what happens where things are run for profit, people try to profit from them

MB

Mark · 11-10-2008, 00:57

Yet again, we have market forces to contend with. The reason fuel prices won't go down immediately, and that it could even be next spring before energy prices go down is down to one word - futures.

The problem is that most energy suppliers will have already sourced their supplies for the winter (at previous high prices), so they'd make a substantial loss if they cut prices now. This works the other way too - claims of energy companies absorbing increases are only partially true - the rest is down to the time lag caused by the futures market.

Then there's the Opec Cartel. They have an emergency meeting planned next month and they will probably cut production to meet the cut in demand, jacking the prices back up again.

Matblack · 11-10-2008, 00:59

Naughty OPEC monkies trying to make profit out of their only real commodity. admittedly if your going to have a commodity its the one to have!

MB

Mark · 11-10-2008, 01:02

Absolutely. All that money being ploughed into artificial palm islands, the world's tallest skyscrapers, and 7* hotels has to come from somewhere. If you didn't already know where, now you do.

Feek · 11-10-2008, 01:07

I can still mutter in discontent.

Stan_Lite · 11-10-2008, 05:10

Quote:

Originally Posted by Fayshun

I'm going to discover oil.

I'll help you dig it up

Tak · 11-10-2008, 09:56

http://news.bbc.co.uk/1/hi/business/7662918.stm

Matblack · 11-10-2008, 10:19

He can 'demand' all be likes, the only way the UK government has to effect petrol prices is to cut the taxes we pay on it, he can ask nicely but that's all the 'power' he has

MB

Siaus22 · 11-10-2008, 10:55

Isn't it something like 83p in every £1 spent on fuel is actually tax? When you have that sort of level then it becomes a bit of a problem when looking at ways to reduce prices. Could the Government take a massive hit with a reduction of tax?

11-10-2008, 00:03	#12
Matblack Baby Bore Join Date: Jun 2006 Location: Svalbard Posts: 9,770	I suspect that without the raises they would have made a loss, that's a bit of a guess but I suspect they wouldn't have made much profit, that's what happens where things are run for profit, people try to profit from them MB __________________ "we had roots that grew towards each other underground, and when all the pretty blossom had fallen from our branches we found that we were one tree and not two"

11-10-2008, 00:57	#13
Mark Screaming Orgasm Join Date: Jul 2006 Location: Newbury Posts: 15,194	Yet again, we have market forces to contend with. The reason fuel prices won't go down immediately, and that it could even be next spring before energy prices go down is down to one word - futures. The problem is that most energy suppliers will have already sourced their supplies for the winter (at previous high prices), so they'd make a substantial loss if they cut prices now. This works the other way too - claims of energy companies absorbing increases are only partially true - the rest is down to the time lag caused by the futures market. Then there's the Opec Cartel. They have an emergency meeting planned next month and they will probably cut production to meet the cut in demand, jacking the prices back up again. Last edited by Mark; 11-10-2008 at 00:59.

11-10-2008, 00:59	#14
Matblack Baby Bore Join Date: Jun 2006 Location: Svalbard Posts: 9,770	Naughty OPEC monkies trying to make profit out of their only real commodity. admittedly if your going to have a commodity its the one to have! MB __________________ "we had roots that grew towards each other underground, and when all the pretty blossom had fallen from our branches we found that we were one tree and not two"

11-10-2008, 01:07	#16
Feek ex SAS Join Date: Jun 2006 Location: JO01ou Posts: 10,062	I can still mutter in discontent. __________________

11-10-2008, 09:56	#18
Tak L'Oréal Join Date: Jul 2006 Location: Portsmouth Posts: 9,977	http://news.bbc.co.uk/1/hi/business/7662918.stm __________________ The look on your face when a toddler rips out your heart and shows it to you? Priceless.... For everything else, there's FWOOSH!

10-10-2008, 23:54	#11
jmc41 Absinthe Join Date: Mar 2007 Posts: 1,070	I wonder if BG, eDF and npower (and so forth) are going to remove the 35% increases they put in recently. I meant they only made ~£350m profit last year, poor chaps.

11-10-2008, 01:02	#15
Mark Screaming Orgasm Join Date: Jul 2006 Location: Newbury Posts: 15,194	Absolutely. All that money being ploughed into artificial palm islands, the world's tallest skyscrapers, and 7* hotels has to come from somewhere. If you didn't already know where, now you do.

11-10-2008, 10:19	#19
Matblack Baby Bore Join Date: Jun 2006 Location: Svalbard Posts: 9,770	He can 'demand' all be likes, the only way the UK government has to effect petrol prices is to cut the taxes we pay on it, he can ask nicely but that's all the 'power' he has MB __________________ "we had roots that grew towards each other underground, and when all the pretty blossom had fallen from our branches we found that we were one tree and not two"

11-10-2008, 10:55	#20
Siaus22 Nice weak cup of Earl Grey Join Date: Oct 2008 Posts: 34	Isn't it something like 83p in every £1 spent on fuel is actually tax? When you have that sort of level then it becomes a bit of a problem when looking at ways to reduce prices. Could the Government take a massive hit with a reduction of tax? __________________