Oil As A Weapon of War

You would not think that oil prices have fallen so drastically in 2014, if you filled up your car with petrol in the United Kingdom today. You always seem to pay the same amount notwithstanding that oil prices are now the lowest that they have been for many years. The price of crude oil has halved since the summer. Continue reading

Oil Prices Slide

Brent Crude is now selling for well under $70 a barrel. Some prognoses suggest that in the middle of next year oil will recover to slightly over $85 a barrel, while others suggest prices will be less than $60 a barrel.  Continue reading

Oil Prices Get Lower

Mr Putin, Leader of the Russian Federation has suggested that the fall in oil prices is due to American shale gas production. I doubt whether this is the sole factor, and no doubt Mr Putin would acknowledge other factors, such as the Islamic State of Iraq and Syria selling oil for only $30 a barrel and increased production in Libya, but as Mr Putin points out, if oil prices fall to less than $80 a barrel most shale gas production is uneconomic. Continue reading

Oil Price Falls and Falls

It is odd that the price of oil falls while economic activity is increasing marginally, while the cost of oil extraction increases and while fewer new oil fields are being discovered. In the case of commodities the price usually depend upon supply and demand, and the producers of the supply always (usually) try to keep the demand high by limited the supply. This is normal economic activity. Continue reading

Oil prices

The price of oil has been falling steadily and is now at around $88 a barrel, although this price fall has not translated into lower energy prices and lower fuel prices. The reason for the price is is Continue reading

Investing in the Future of Energy

Brent Crude Oil is today selling at more than $115 a barrel. Its price has risen by 9% in the past month and that price rise has largely gone unnoticed because the world financial farce has dominated the media. Whatever you think of the economy the availability of fuel and energy is important to it. An oil price rise would make things more difficult right now so we need to know if oil prices are likely to rise further and plan for the rises. Continue reading

Energy costs in Northern Ireland

InNorthern Irelandfolk that use Phoenix Gas received an unwelcome Easter gift from their gas supplier. From the beginning of May the price that consumers will pay for gas has increased by 39.1%. There are not a lot of homes with natural gas inNorthern Ireland, but nevertheless some 19,000 families will be affected. Continue reading