Record drop in Oil Prices and fuel protests

[strange6]

Oil has plummeted this week (down 12 dollars alone in one day!) trading at just under 100 dollars a barrel. Made me wonder about the rip-off UK and how long will it be before we start seeing a fall at the pumps instead of the weekly rises we have experienced of late. However, next time you fill up your tank and the price has increased, don't blame investment banking speculators for the rising prices - they are a tiny part of the problem. The blame lies with loose monetary policy in the US, plus high taxation by the UK Government, of course.
AND, the fuel protests may be back on next week:

http://www.express.co.uk/posts/view/243975/Fuel-protests-will-bring-chaos-to-UK

With promises to cripple the country. now where have I heard that before?

 

[Zoe]

I doubt there will ever be another fuel protest like in 2000. I remember them saying at the time that they could get the army in if anyone tried it again.

 

[Peter Mugridge]

It'll be a while before the reduction in crude prices feeds through to the pumps because the oil market trades well ahead; by then the crude oil price will probably be rising again anyway...

 

[mumrar]

It'll be a while before the reduction in crude prices feeds through to the pumps because the oil market trades well ahead; by then the crude oil price will probably be rising again anyway...

If this were the case then why does it always rise straight away in line with the wholesale price? A lot of someone's arew taking the preverbial I think, and it's time it stopped.

I've not driven any car since the 29th March in my own one man protest, but I'm getting fitter by cycling and saving money too.

 

[yorkie]

...plus high taxation by the UK Government...

What alternatives to this, do you suggest out of:
- Raising other taxes to pay for it? If so, which ones? or
- Cutting services even further? If so, which ones? or
- Increasing Government borrowing, and therefore increasing interest rate payments on the debt
--- old post above --- --- new post below ---

I've not driven any car since the 29th March in my own one man protest, but I'm getting fitter by cycling and saving money too.

A wise move I also cycle to work (and a lot of other places too )

 

[Railjet]

If this were the case then why does it always rise straight away in line with the wholesale price? A lot of someone's arew taking the preverbial I think, and it's time it stopped.

It's always the case - basically, the consumer gets screwed.

Look at airlines - they're very quick to increase fuel surcharges but um and ah when prices are falling. They always use the hedging argument (we have contracted to buy fuel at such a price in the future) - but only when it benefits them and not the consumer.

 

[strange6]

What alternatives to this, do you suggest out of:
- Raising other taxes to pay for it? If so, which ones? or
- Cutting services even further? If so, which ones? or
- Increasing Government borrowing, and therefore increasing interest rate payments on the debt

There are no alternatives since all of this revenue has been budgeted for. What I object to is why it was allowed to get out of hand in the first instance, many, many years ago! The fact of the matter is that waste and inefficiencies across the board has led successive governments to keep on raising tax on fuels in order to compensate for all of this. This country has been run badly for a very long time now, that's for sure.
And it's all very well cycling everywhere, but that doesn't prevent the price of oil from having devastating effects on the price of everything else. And the poor suffer for it as a consequence.

 

[Zoe]

There are no alternatives since all of this revenue has been budgeted for. What I object to is why it was allowed to get out of hand in the first instance, many, many years ago!

High fuel prices are needed to get people out of their cars.

 

[devon_metro]

High fuel prices are needed to get people out of their cars.

No, the alternatives need to be reasonably priced and convenient for people. Everybody deserves a choice and for many people public transport etc. is simply not flexible!

Business runs on oil, if oil prices are high then we pay more as consumers since transport costs are higher.

To get to my local train station I must use a car since no buses run, it's a fair distance by bike/walk let alone with luggage and taxis are hardly reasonably priced.

 

[strange6]

High fuel prices are needed to get people out of their cars.

And what good would this do? Cripple an already struggling public transport system? And what about people who's only way of earning a living is to travel afar at early times in the morning, especially so with the current employment situation. And what about the cost of food and other essentials of living like electricity and gas, all of which rely on the cost of transportation and oil? Sorry, but it's not so black and white, is it?

 

[Greenback]

It's not black and white; as with many of the solutions that seem obvious at first. WQith fuel duty, petrol was once so cheap that governments started increasing the tax take, knowing that the fuel was still very affordable. That is no longer the case, and the cost is now causing real hardship, even without the knock on effect on other consumer items.

However, the price will keep rising over the long term, even with cuts in duty. I am afraid that this is unavoidable and due to the laws of market forces - as supplies becoem harder to find and demand keeps rising the price will also rise. We really need to start making changes to the way we live our lives wherever possible.

 

[yorkie]

We really need to start making changes to the way we live our lives wherever possible.

Indeed. The idea that everyone in the world can drive everywhere is simply not feasible. If people do not do this by choice now, then they will be forced to later on. We should never have allowed our society to be so dependent on such an unsustainable mode of transport! The best all we can do, as individuals, is try to be less dependent on cars.

 

[Zoe]

Indeed. The idea that everyone in the world can drive everywhere is simply not feasible. If people do not do this by choice now, then they will be forced to later on. We should never have allowed our society to be so dependent on such an unsustainable mode of transport! The best all we can do, as individuals, is try to be less dependent on cars.

So as I suggested in another thread, if the general public had never been allowed cars then we would have much better public transport now?

 

[Yew]

Indeed. The idea that everyone in the world can drive everywhere is simply not feasible. If people do not do this by choice now, then they will be forced to later on. We should never have allowed our society to be so dependent on such an unsustainable mode of transport! The best all we can do, as individuals, is try to be less dependent on cars.

I think adding more flexibility to toc boundries/timetables. For example In the summer they could reduce any school trains full of school kids , and run them as seaside specials (by reduce, I mean like a 156+153 to just a 156.

Maybe charter some HST's from the midlands down to cornwall or some other big holiday resorts?

 

[strange6]

So as I suggested in another thread, if the general public had never been allowed cars then we would have much better public transport now?

That's called totalitarianism in which Stalin and Hitler ruled by. No thanks.

 

[ralphchadkirk]

That's called totalitarianism in which Stalin and Hitler ruled by. No thanks.

Godwins law invoked.

 

[bb21]

Godwins law invoked.

How far are we away in this thread?

 

[strange6]

Godwins law invoked.

lol Out of the thousands of threads on this forum, he was bound to come up trumps some time or later. I believe more in mathematical probabilities mysef