• Best of luck to the class of 2024 for their HSC exams. You got this!
    Let us know your thoughts on the HSC exams here
  • YOU can help the next generation of students in the community!
    Share your trial papers and notes on our Notes & Resources page
MedVision ad

Recent $10/11 rise in price p/barrel (1 Viewer)

quik.

Member
Joined
Mar 29, 2006
Messages
781
Location
Sydney
Gender
Male
HSC
2006
If this doesn't belong here, my bad.

Price of petrol going up and up etc, however the recent jump in price p/barrel is reported to be over a statement that an attack on nuclear facilities in Iran will be unavoidable.

I will be the first to admit that I am embarassingly uninformed regarding politics and economics, but some people on here are not. In my eyes, price p/barrel jumping to record heights over a statement as opposed to an actual event is epicly retarded. Can anybody explain how this would happen? Don't mind just being pointed in the direction of stuff to read either.
 

Graney

Horse liberty
Joined
Jul 17, 2007
Messages
4,434
Location
Bereie
Gender
Male
HSC
2005
Exphate said:
(Ignore sudan hai)
Are you saying Sudan can immediately and dramatically supplement world oil supply, above it's current output?

The price spike shows how precarious world oil supply is. The ability of OPEC to increase supply to lower prices is disappearing. The worlds largest oil fields are drying up. Any threat to that supply now is going to have a major impact on price.
 

quik.

Member
Joined
Mar 29, 2006
Messages
781
Location
Sydney
Gender
Male
HSC
2006
Graney said:
The price spike shows how precarious world oil supply is.
Until Israel actually attacks Iranian nuclear facilities, which I doubt very much will happen in the near future, doesn't it merely show investors or whoever overreacting?

It translates to a 10-14c increase p/litre at the bowser (according to the Sun Herald, so I'm definately not holding it as gospel), for nothing. There hasn't been an attack, the 'threat' of which caused the jump in the first place?

Sorry for all the questions and shit, it's just something I've been interested in learning about for a while.
 

Omium

Knuckles
Joined
Feb 7, 2008
Messages
1,738
Location
Physics
Gender
Male
HSC
2007
quik. said:
If this doesn't belong here, my bad.

Price of petrol going up and up etc, however the recent jump in price p/barrel is reported to be over a statement that an attack on nuclear facilities in Iran will be unavoidable.

I will be the first to admit that I am embarassingly uninformed regarding politics and economics, but some people on here are not. In my eyes, price p/barrel jumping to record heights over a statement as opposed to an actual event is epicly retarded. Can anybody explain how this would happen? Don't mind just being pointed in the direction of stuff to read either.
And i thought 08'ers were shocking posters.
 

Slidey

But pieces of what?
Joined
Jun 12, 2004
Messages
6,600
Gender
Male
HSC
2005
quik. said:
If this doesn't belong here, my bad.

Price of petrol going up and up etc, however the recent jump in price p/barrel is reported to be over a statement that an attack on nuclear facilities in Iran will be unavoidable.

I will be the first to admit that I am embarassingly uninformed regarding politics and economics, but some people on here are not. In my eyes, price p/barrel jumping to record heights over a statement as opposed to an actual event is epicly retarded. Can anybody explain how this would happen? Don't mind just being pointed in the direction of stuff to read either.
Read this then comment: http://en.wikipedia.org/wiki/Oil_price_increases_since_2003
 

quik.

Member
Joined
Mar 29, 2006
Messages
781
Location
Sydney
Gender
Male
HSC
2006
Omium said:
And i thought 08'ers were shocking posters.
Yeah man trying to learn about something I dont understand, fuck what was I thinking.

Edit: Reading now ty Slidey
 

Users Who Are Viewing This Thread (Users: 0, Guests: 1)

Top