Community Views : What’s on the boards today….21st Feb 2011

21st February 2011

The Guardian

"Oil price climbs on Libyan unrest. Oil up by more than $1 on fears that supplies from Libya, which exports 1.1m barrels a day, could be disrupted"

ChrisWoods comments: "The oil price seems to simply continue its constant rise no matter what the circumstances.

Dictator takes power, oil price rises on forecourt.

Democracy takes power from dictator, oil price rises on forecourt.

OPEC pumps more oil, oil price rises on forecourt.

OPEC pumps less oil, oil price rises on forecourt.

Oil producers underestimate oil reserves, oil price rises on forecourt.

Oil producers overestimate oil reserves, oil price rises on forecourt.

And the best of all, during the height of the recession oil price fell to some 40-50 USD per barrel ( half what it is now) but oil price on forecourt hardly fell at all.

The list is endless, the circumstances the same in that the oil market just loves uncertainty to keep the speculators in business, keep the prices rising no matter what. This is why there is more money in oil speculation that actual real oil in circulation."

The BBC has covered this story as well:

The Guardian

"Bankers' bonuses and mortgage lending rules that favour the super-rich have pushed up house prices in London, resulting in a 21% jump in the number of people looking to sell their homes compared with a year ago, and a 4% rise in asking prices since last month, according to a leading property website."

This Is Money

"House prices will slump by 20% over the next two years, experts have warned."

Howie says: "Problem is getting people to sell. Only the bad houses will come onto the market. Prices will be forced up as lack of supply"

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