Asda, Morrisons... We Salute You!

Shell VPower is 'Ferrari fuel for the road'. It makes you go faster. Buy buy buy buy buy buy buy.

In other news, its great to see 97.9, someone said on here they would be willing to bet £50 that it wont go under 90, if things keep going this way, it will :eek:
 
[TW]Fox;12717426 said:
I'm genuinelly lost as to why it seems nobody with even a rudimentry grasp of economics is in any position of power in these countries. Lets look at a few possible scenarios from OPEC's oil price cut:

a (Most likely): They cut production such that the price of crude turns around and heads right back up again. Result being it hurts demand even further in recession hit Western economies, meaning they'll sell even LESS oil.

b (Unlikely but possible): The production cut is not enough to override the falling demand. Oil continues to fall in price, or remains stable. But OPEC nations are now pumping less crude so taking less money.

They seem to be holding for option c: Oil goes up in price but we all decide we cant be bothered with a recession and buy loads and loads of it.

I mean seriously, huh!?
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There again there might be an option d - we have sold the most crude oil in our history this summer at the highest price in history, we don't really need to sell it at these ridiculously low prices so lets just sell enough to tick over and wait for the price to go back up.

Oil is an exhaustible supply (unless you believe the Russian scientists) once it has all been sold you can't sell it again, it is good to get the highest price you can.
 
I wish LPG would come down at a similar rate, I'm currently paying 60p/L from the local place (it was ~57p/L when petrol was 97p previously) :(

Oh and the local Morrisons and Shell are now 97.9 too :)
The independent opposite there is 103 and is always empty.

Edit: Does anyone know of any graphs/data relating petrol price to lpg? I'm quite curious to see the difference :)
 
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Can we just nuke Iran? I mean, seriously?

Iranian Oil Minister Gholamhossein Nozari told reporters on the sidelines of a gas meeting in Tehran the drop in demand for oil "can push OPEC to cut the current production by 2-2.5 million barrels per day".

The era of cheap oil is finished," Nozari said and when asked what oil price Iran wanted replied: "The more the better."
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It's their oil, I guess they can produce as much or a little as they like, to be honest they are in the pound seats. They have a limited commodity that everybody else want, obviously demand is dropping in the face of global recession, time to choke off supply.

They've seen consumers can/will play silly prices, why on earth would the want to go back.
 
I cant wait till their oil runs out and they come crying to us because we're using more modern methods in the artic etc. It may never happen though certainly not in my lifetime.
 
JimpsEd said:
Why? Its their oil.
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No, SOME of it is there oil. Their threats are meaningless unless they illegaly collude with other producers and agree on production cuts. This is illegal, it's called collusion.

Well, unless you are OPEC in which case crack on with it lads :confused:

Iran on its own deciding to modify its production? No issue. Do what they want, its their oil. But they are not personally cutting 2m barrels a day of their own production. They wish everyone else to do it....

If Tesco, Sainsburys and Morrisons got together and agreed exactly how much to charge for bread, milk, etc etc and agreed to all charge the same to increase price, there would be uproar.

But it's their bread...
 
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