A Quote by Richard Heinberg
What's new is high oil prices and the economy hates high oil prices.
Related Quotes
High prices can be the result of speculation, and maybe plunging prices can be attributed to the end of speculation, but low prices over time aren't caused by speculation. That's oversupply, mainly by Saudi Arabia flooding the market with low-priced oil to discourage rival oil producers, whether it's Russian oil or American fracking.
Lower oil prices won't, by themselves, topple the mullahs in Iran. But it's significant that, historically, when oil prices have been low, Iranian reformers have been ascendant and radicals relatively subdued, and vice versa when prices have been high.
Having yet another vote on refinery legislation that uses high oil prices as an excuse to weaken environmental protections and to give more legislative gifts to the oil industry is misguided in the extreme.
I don't think anyone can speculate what will happen with respect to oil prices and gas prices because they are set on the global economy.
It costs governments money to keep fuel prices low. Oil-rich Yemen, for instance, devotes 9 percent of its GDP to making sure its people don't riot when oil prices rise.
This morning, prompted by increasing concerns about terrorism, oil prices reached a record high as the cost of a barrel of crude is a whopping $44.34. Wow, it seems shocking that a product of finite supply gets more expensive the more we use it. Now the terror alert means higher oil prices, which oddly enough means higher profits for oil companies giving them more money to give to politicians whose policies may favor the oil companies such as raising the terror alert level. As Simba once told us: "It's the circle of life."
If oil prices will go too high, it will slow down the world economy and would trigger a global recession.
You know, oil prices from 2007, on the strength of a very robust global economy and a very robust emerging China, many of you will recall, ramped up to near $150 a barrel. Then we had the financial - U.S. financial collapse. Oil prices collapsed all the way down to $40 a barrel.
Russia does not have a modern economy: it's a petro-power. The only thing it sells that the world wants to buy is oil and natural gas. When was the last time anyone bought a Russian computer? A Russian car? A Russian cell phone? Russia is so dependent on high energy prices that if oil falls below $100 a barrel, the Kremlin can't meet payroll.
If global oil prices or commodity prices are high, then it is bound to create inflation. So, we should not be too worried if the inflation is created by global commodity prices. When they come down, inflation will automatically come down.
Even if we were to sign peace today, the economic conditions in our country would not improve automatically because it will take some time to reach the level of oil production before the war and the oil prices are likely to remain low for some time as the supply of oil in the world is high and demand is low.
You can't tell me you can make any system or country work with low wages and high prices, and high wages with high prices don't mean anything when the prices eat up the wages and don't leave anything over.
The significant collapse of oil prices shows that it was previously way too high.
In the U.S., PC-makers have no incentive to lower prices because it kills their profit margins. They keep adding new features like high-end retina displays and faster processors to justify their high prices.
The reason gas prices are so high is because the oil is in Texas and Oklahoma and all the dipsticks are in Washington.
Because deep-frying requires a high volume of oil, it's okay to reuse the oil a couple of times for economy's sake. When the color or smell of the oil starts to change, it's time to discard.
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