Results 1 to 3 of 3

Thread: Oil price goes to $100 a barrel

  1. #1
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    20,977
    Thanks
    3,055
    Thanked 2,462 Times in 2,067 Posts
    Blog Entries
    12

    Oil price goes to $100 a barrel

    It wasn't that long ago that oil breached the $30 "ceiling." And the word was it was temporary; the result of some unexpected short term problems. Now as oil breaks $100 per barrel under a steady stream of "temporary" challenges, you've got to wonder where it will end.
    Oil prices vaulted to a record $100 a barrel on Wednesday as violence in Nigeria, tight energy stockpiles and a weaker dollar triggered a surge of speculative buying, dealers said.

    Oil's climb to the psychologically key triple-digit price helped send stocks tumbling on Wall Street and further darkened an already gloomy economic outlook in the United States, which has been battered by a housing crisis and credit crunch.

    "Oil hitting $100 a barrel has sparked some concerns about the consumer and inflation," said Todd Salamone, vice-president of research at Schaeffer's Investment Research.

    US crude traded once at $100 a barrel, up $4,02, before easing back to settle $3,64 higher at $99,62. It remains below the inflation-adjusted high of $101,70 hit in April 1980, a year after the Iranian revolution.

    London Brent crude rose $3,99 to $97,84.

    Crude prices jumped 58% in 2007, the biggest annual gain this decade. Oil prices have nearly tripled since 2000 -- driven by rising demand in China and other developing countries, tight stockpiles and geopolitical turmoil.
    extracts from M&G article here
    How can inflation possibly be kept in check in the face of such massive increases in energy costs?
    The trouble with opportunity is it normally comes dressed up as work.

  2. #2
    Moderator IanF's Avatar
    Join Date
    Dec 2007
    Location
    Jhb
    Posts
    2,615
    Thanks
    191
    Thanked 520 Times in 398 Posts
    Dave
    I heard that in overall terms of the world economy the effect of oil has come down. A 60% rise in the last year and the economy is still growing! All this means is there is now more incentive for all of us to look at alternatives. Just think if we could telecommute how much that would save.
    So look for ways to save on unnecessary trips and for companies that help you with this.
    Only stress when you can change the outcome!

  3. #3
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    20,977
    Thanks
    3,055
    Thanked 2,462 Times in 2,067 Posts
    Blog Entries
    12
    Quote Originally Posted by IanF View Post
    So look for ways to save on unnecessary trips and for companies that help you with this.
    As a service company that goes out to our clients, I think we're certainly going to have a closer look at more effective scheduling from a travelling point of view.

    It can be tough, though, juggling travelling efficiency and the client's level of urgency.
    The trouble with opportunity is it normally comes dressed up as work.

Similar Threads

  1. Cost price notebooks for the World Cup!
    By RKS Computer Solutions in forum Technology Forum
    Replies: 48
    Last Post: 13-Oct-07, 04:18 AM
  2. Mr Price ordered to withdraw misleading ads
    By Eugene in forum Marketing Forum
    Replies: 7
    Last Post: 11-Aug-07, 04:20 PM

Tags for this Thread

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •