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Heating Oil


Matt Carlton
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1 hour ago, GrumpyGnome said:

Jeez. Got 500l less than a week ago... £368

 

Likewise, paid £372 last week. I'm struggling to see the cause, given that the majority of the oil we use in the UK comes from Norway and the US. 

 

The USA is set to release 30m barrels from the strategic reserve, what impact that will have, who knows. 

 

Sadly I suspect much of this is more to do with profiteering than necessity. 

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9 minutes ago, leccyflyer said:

Ordered and paid for ours two weeks ago, supposed to have been delivered yesterday, now the supplier is saying that they are out and new stocks will only be available at a premium.

 

That's shocking, if it is bought and paid for, it should be supplied at the price you paid. That's the whole reason why futures markets can be so risky. 

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8 hours ago, Matt Carlton said:

the majority of the oil we use in the UK comes from Norway and the US. 

 

Not sure that makes much odds where the black stuff comes from - retail companies have to pay the spot price to buy oil, globally the price per barrel is way up.

 

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1 hour ago, EarlyBird said:

Don't remember that ?

In the motor trade (before we all had to have "waste" licenses it was common practice for companies to buy and recycle old engine oil from garages.

For the last few years they have had to pay to have it removed.

 

4 weeks ago I filled up my oil tank at home and it cost me £1500.00 (big tank).

Phew !!!

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73p/litre ten days ago and for the first time, the local retailer was cheaper than the local Oil Club, by 2p.   Just checked Boilerjuice, which I find useful as a starting position, and it appears to have gone off the chart at over 180p

 

Supply and demand.   Net zero by 2050 is starting to look as unachievable as it sounded.   Time to frack.

BTC

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20 minutes ago, Bruce Collinson said:

Supply and demand.   Net zero by 2050 is starting to look as unachievable as it sounded.   Time to frack.

BTC

 

Or maybe fossil fuel price shocks may accelerate the transition to renewables which can't be affected by global events.

 

The only way oil prices are going to drop is if the war in Ukraine is resolved quickly (and agreeably) or OPEC increases production. Russia made up around 10-11m bbls of the world daily total of 90m bbls per day and exported around 5m bbls, releasing 30m from a strategic reserve would replace 6 days of Russian exports.

 

As for fracking, yes we have lots of gas that would be available if fracking went ahead, but most people are fine with this as long as it's not near them. Beginning to look like decommissioning the Rough gas storage field was a not a clever move, although there has been plans afoot to use it for H2 storage for H2 made from excess wind power.

Edited by Frank Skilbeck
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15 hours ago, leccyflyer said:

Ordered and paid for ours two weeks ago, supposed to have been delivered yesterday, now the supplier is saying that they are out and new stocks will only be available at a premium.

That sounds familiar. I ordered 1000L on 22nd Feb (before the balloon went up) and paid £650. It's overdue now so waiting for something to happen - anything!

Still, rather shiver than have Russian oil though.?

Marty

Edited by Martin Fraser
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i would say there is a lot of profiteering going on.......alsp reading today that airbag's and steering wheels c/w airbags are getting stolen from vehicles...due to a shortage of them.

 

ken anderson...ne...1...rogues dept.

Edited by ken anderson.
added some more words of wisdom
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45 minutes ago, ken anderson. said:

i would say there is a lot of profiteering going on.......alsp reading today that airbag's and steering wheels c/w airbags are getting stolen from vehicles...due to a shortage of them.

 

ken anderson...ne...1...rogues dept.

Interesting post Ken.

Repairing damaged cars is my background and I still watch the salvage auctions with interest. Currently late model salvage is selling for up to 80% of the vehicle's retail value in its damaged state !

I wonder where they are getting really cheap parts to repair them from ?

In the trade, we know what is happening, the insurance companies and salvage sellers know what is happening and the Police know what is happening.

However, the media, and the various authorities seem more interested in pursuing the social lives of various politicians.

As someone said over 60 years ago, "Its a mad, mad, mad, world"

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The chap who taught me to fly is an oilfield geologist, latterly retired, and he’s adamant that fracking is essentially safe.   I’m inclined to accept his view and as an arch critic of BANANAS frustrating every initiative to plug the gap of 200,000 new houses a year, I would have no qualms about fracking under my house.

 

agree entirely about decommissioning bulk gas storage.   Even the Germans are posturing to cancel decommissioning their nuclear reactors.

BTC

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It's catalytic converters that are being stolen here, turn the car on it's side and saw it off with a battery powered tool,,

 

 Next up, car parts to order from headlights bumpers and doors, all stolen to order in underground car parks,,

 

 

 Not forgetting emptying lorry diesel tanks, that has never stopped and we all know over here who is doing it,,,,?

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11 hours ago, Andrew Calcutt said:

Thank goodness I kept my open fire,wood and coal not to bad at the moment.Feel sorry for people on low incomes things must be tough

We had sacks of logs delivered yesterday.  They're the most expensive they have ever been and the delivery man said they're going up by 12.5% on Monday. My original thought was "profiteering!" but I expect a large chunk is to cover the hugely increased cost of delivery.... by lorry

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As soon as the demand for anything goes up so does the price. Always has and always will. Greed, profiteering, call it what you will also plays a big part. Big businesses are obsessed with "Growth" usually driven by accountants trying to please their already overly rich employers . Making a working profit isn't enough these days as it appears that only massive profits count . 

What has always grated me is that if I were to start a business and collude with a neighbouring business to control, the price then I would be prosecuted under the law as running a "cartel" ! However its fine for our governments to allow  oil companies to colude to control oil prices as in "OPEC". 

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