Crude oil prices - how low?

[maybe]

Down to $98aus on the news tonight they reckon in Queensland we should be down to between $1.10 to $1.20 a litre by next Tuesday

[mark247]

$73 a barrel now. OPEC must be shitting bricks. CHUR.

[vgcspares]

Bio-diesel (Salad Oil)'s the go, but does your kitchen generate enough used cooking oil for the mileage you do ?

[mark247]

Bio-diesel (Salad Oil)'s the go, but does your kitchen generate enough used cooking oil for the mileage you do ?

Well my neighbour has my bike now and the police have my car so i think an empty room would generate enough fuel for me at the moment!

[vtec]

Price for oil is falling because of this massive recession/depression that the world is about to fall into. This is big. Money has stopped moving. So US won't be buying Chinese goods, chinese won't be buying Australian minerals (or Fonterra's milk for that matter :P) or British oil, and the US and Britain have reached the tipping point where they can't invent money in their banks anymore (bank assets listed as credit derivatives are just a multi-trillion dollar fraud by the banks executives to rationalise their massive paychecks and bonuses). The bailouts will just create hyperinflation, and steal from the needy and give to the rich. The world is quite a mess... give it 2-5 years... And don't buy shares or property or anything... yet. Term deposits are the go as long as the government's are backing up depositor funds.

And everybody HTFU ride your bicycles everywhere. Biological engines are the most efficient engine. As a bike courier I used to buy my food on a maximising calorie per dollar basis. $1 for 500 grams of dates... that'll get me a very long way. $1 for 480grams of creamed rice.

As soon as people realise that the banks are totally bankrupt once you take away the assets listed as credit derivatives, this will get a lot uglier than it already has. This is the reason why the government has had to say that they will guarantee peoples savings. Because people are getting wind of the immensity of the problem, and there will be more runs on banks.

This period in history will be known for how the bankers stopped the world from turning.

[mark247]

This is the reason why the government has had to say that they will guarantee peoples savings. Because people are getting wind of the immensity of the problem, and there will be more runs on banks.

This period in history will be known for how the bankers stopped the world from turning.

I dont think the government could afford to guarantee all the banks. At the end of the day they are probably just saying that in HOPE so people dont go and empty all their accounts and cause bank runs.