*_ash_* Posted August 30, 2022 Share Posted August 30, 2022 2 hours ago, Chekhov said: The price of oil has been going up since late 2020. Note how low the price of oil was in March 2020 due to the Covid suppression polices, that low oil price affected investment decisions which were to have long term impacts. You simply cannot CANNOT mess with society and the economy in such an unprecedented and serious manner and not get massive damage. : What's interesting about the graph is the differences in prices at the pump, and prices of the barrels. When it was $10 a barrel, it was £1 a litre. When it was 13 times higher in price, it was £2 a litre. Link to comment Share on other sites More sharing options...
Chekhov Posted August 31, 2022 Author Share Posted August 31, 2022 (edited) 10 hours ago, Tyke02 said: My last post was responding to comments that you made about the impact on electricity prices of the price of gas, and now your graph is about the price of oil. Oil and gas are closely linked. One of the carriers we are using is currently charging us a 20% fuel surcharge. 8 hours ago, *_ash_* said: What's interesting about the graph is the differences in prices at the pump, and prices of the barrels. When it was $10 a barrel, it was £1 a litre. When it was 13 times higher in price, it was £2 a litre. Much of the cost of fuel is tax, plus the cost of refining and transporting etc. One oil benchmark actually went negative during the madness of Covid suppression : The energy industry cut back during the pandemic, paving the way for a runaway rally that has huge implications for the global economy. On April 20, 2020, West Texas Intermediate crude, the U.S. benchmark, dropped to minus $40 a barrel. Oil industry leaders were forced into drastic choices that would affect the industry’s growth and its appeal to investors for years to come. https://www.bloomberg.com/news/articles/2022-02-16/oil-prices-near-100-as-global-economy-struggles-to-balance-post-covid-crash Edited August 31, 2022 by Chekhov Link to comment Share on other sites More sharing options...
Chekhov Posted August 31, 2022 Author Share Posted August 31, 2022 (edited) 1 hour ago, HumbleNarrator said: It'll be a different world when we get through all this. Order out of chaos. I am really worried if it will be order out of chaos. Bear in mind the number of people on here who still support what happened during the Covid madness. Some keyboard warriors appear to have argued we would be wearing masks pretty much forever in care homes and stuff like that, they certainly do not give any date for when they should be scrapped. some even want them during the flu season, thankfully they are a minority in the real world. People's risk aversion, and the number of restrictions they are prepared to accept "to keep us safe" has been going up remorselessly for decades, but Covid has turbocharged it...... Edited August 31, 2022 by Chekhov Link to comment Share on other sites More sharing options...
steve68 Posted August 31, 2022 Share Posted August 31, 2022 (edited) On 30/08/2022 at 14:36, Chekhov said: Meths, for cleaning, but I may need it for other things the way things are going..... ! Interestingly I got some from Home Bargains, and their shelves were not as empty as Wilko's, which could be worrying for Wilko staff ? That said, Aldi Stocksbridge also had quite few empty shelves last Friday, and so did Asda PX a week or so ago and Morrisons HB. Meths 500ml in Wilko and B&M is way too expense......Home Bargains last time i bought a month ago, it was around £1.75 compared to all the other local stores £3.75 and above Edited August 31, 2022 by steve68 Link to comment Share on other sites More sharing options...
Chekhov Posted September 30, 2022 Author Share Posted September 30, 2022 OMG ! In answer to my point that we are in an even bigger mess than we thought we were (because we are comparing present months growth rates with months in which we were still subject to some Covid suppression restrictions) a post on here blew my mind : In 1993 the UK had a $1tn economy - the equivalent of 2.6 billion ounces of gold. In 2007 the UK had a $3tn economy - the equivalent of 4.2 billion ounces of gold. In 2021 the UK had a $3.2tn economy - the equivalent of 1.8 billion ounces of gold. Link to comment Share on other sites More sharing options...
Dromedary Posted September 30, 2022 Share Posted September 30, 2022 51 minutes ago, Chekhov said: OMG ! In answer to my point that we are in an even bigger mess than we thought we were (because we are comparing present months growth rates with months in which we were still subject to some Covid suppression restrictions) a post on here blew my mind : In 1993 the UK had a $1tn economy - the equivalent of 2.6 billion ounces of gold. In 2007 the UK had a $3tn economy - the equivalent of 4.2 billion ounces of gold. In 2021 the UK had a $3.2tn economy - the equivalent of 1.8 billion ounces of gold. It's very misleading though as the correct way of comparing is to use the standard measure of GDP per capita, a common measure used worldwide, which has nothing at all to do with gold prices. U.K.gdp per capita for 1994 was $19,709 U.K.gdp per capita for 2007 was $50,653 (was at its highest) U.K. gdp per capita for 2021 was $47,334 So in terms of actual gdp we are still over double of that in 1994, slightly down on 2007 but still doing very well. https://www.macrotrends.net/countries/GBR/united-kingdom/gdp-per-capita As for recession: https://www.bbc.co.uk/news/business-63086562 Link to comment Share on other sites More sharing options...
Chekhov Posted September 30, 2022 Author Share Posted September 30, 2022 (edited) 6 minutes ago, Dromedary said: It's very misleading though as the correct way of comparing is to use the standard measure of GDP per capita, a common measure used worldwide, which has nothing at all to do with gold prices. U.K.gdp per capita for 1994 was $19,709 U.K.gdp per capita for 2007 was $50,653 (was at its highest) U.K. gdp per capita for 2021 was $47,334 So in terms of actual gdp we are still over double of that in 1994, slightly down on 2007 but still doing very well. https://www.macrotrends.net/countries/GBR/united-kingdom/gdp-per-capita But does that take inflation into account ? 6 minutes ago, Dromedary said: As for recession: https://www.bbc.co.uk/news/business-63086562 If we're at pretty much zero growth when we are comparing to a previous year where we were still under Covid suppression measures (to a greater or lesser extent) we are right in the ****. That's my point. As an example, as far as I can remember, travel restrictions were only fully eased in March ! Edited September 30, 2022 by Chekhov Link to comment Share on other sites More sharing options...
RJRB Posted September 30, 2022 Share Posted September 30, 2022 Perhaps if those in employment spent less time on the internet we would be more productive. As a pensioner I rely on the current work force. 1 Link to comment Share on other sites More sharing options...
Dromedary Posted September 30, 2022 Share Posted September 30, 2022 3 minutes ago, Chekhov said: But does that take inflation into account ? Did the figures you gave do that? But in any case the answer is yes. https://www.gov.uk/government/news/gross-domestic-product-gdp-what-it-means-and-why-it-matters Link to comment Share on other sites More sharing options...
Chekhov Posted September 30, 2022 Author Share Posted September 30, 2022 51 minutes ago, Dromedary said: Did the figures you gave do that? But in any case the answer is yes. https://www.gov.uk/government/news/gross-domestic-product-gdp-what-it-means-and-why-it-matters Comparing to the price of Gold is a benchmark. Link to comment Share on other sites More sharing options...
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