The CEO of Galp Energia Portugals biggest Petrol company and one of the biggest companies in this country said in a parliment session that the final consumer price per litre is cheaper than in Spain.! (Spain is the country next to Portugal)
The consumers should take into account the discounts at the petrol stations... this statement can only be considered ridiculous, two or three cents per litre in some petrol stations! Very few petrol stations practice any type of discounts, any real discount...
This CEO goes on to say that due to these discounts tha petrol price in Portugal are in fact cheaper than in Spain...then he should explain to the public in general why we have diesel 10 cents more expensive than in Spain and petrol 30 cents more expensive...!
Portugal has one of the most expensive consumer price per litre in the world ... its not the consumers fault that the goverment places high taxes on this type of fuel, its up to the petrol companies such as Galp to force the govermnet to change its policy...but no...the petrol companies all they see is profits...the more expensive the better.
They all practice the same prices , if one increases the consumer price a cent more, then all other petrol companies also increase their final price... this practice has been in use for years,everyone has knowledge of this practice but the CEO of Galp Energia denies this practice ... the deniel only proves the information is correct.
These companies have no respect for the consumer, their objective is money money...
written by ABSTRACTMIND @ 12:39 pm, ,
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written by ABSTRACTMIND @ 9:43 am, ,
" Black Gold "
The dollar posted the biggest weekly losses versus the euro since March as the Fed's half-percentage-point interest-rate cut on Sept. The Fed's trade- weighted dollar index sank to its lowest in 36 years.
During this week the dollar may go even lower....The U.S. currency fell 1.6 percent this week to $1.4091 per euro and touched $1.4120 last week, the lowest since the euro's inception in January 1999.
Seeing the present situation i think the Dollar weakness will drag on, the crisis is not over and the Fed is likely to cut rates further.
written by ABSTRACTMIND @ 3:52 pm, ,
the dollar fluctuation, but in a downward movement, in a way this helps to relief the crude price since
all transactions are in dollars.
But something serious must be made...the world economy cannot support for very long these crude prices.
If the oil companies continue in this path they will also suffer serious problems as more and more alternative energy solutions
become more apparent such as hybrid cars, fuel cells and so on..the consumer will also reduce the use of cars to a minimum and in this way the prices will drop.
The exporting crude countries should remember that today they control the energy market but tomorrow they may be starving.
written by ABSTRACTMIND @ 3:07 pm, ,
Oil Rises to Record $81.18
Once more humanity faces what the oil companies and some goverments whant... Crude oil rose above $81 a barrel for the first time in New York, this is caused because of speculation U.S. oil and gasoline stockpiles extended declines as refiners slowed operations with the passing of the nation's summer driving peak.... i dont understand, if the summer driving peak is over than why increase the fuel price...speculation of course...
According to information from the Energy Department the report will probably show U.S. oil stockpiles fell 2 million barrels last week, according to an analyst survey, the 10th decline in 11 weeks.
So now we face the fact that this market probably has the legs to get up to $83-$84 a barrel!
Crude oil for October delivery rose to $81.18 a barrel, The contract rose , to $80.57 yesterday, the highest closing price since trading began in 1983.
Oil stockpiles in the U.S., the world's largest consumer, held 322.6 million barrels on Sept. 7, 2.7 percent less than a year earlier.
The Organization of Petroleum Exporting Countries last week said it will release an additional 500,000 barrels of oil a day into the market beginning Nov. 1 to help meet fourth-quarter demand. OPEC produces about 40 percent of the world's oil.
For Europe the important news is thatBrent crude oil for November rose to $76.98 a barrel on the London-based ICE Futures Europe exchange yesterday.
SO THERE SHOULD BE NO REASON FOR THE LOCAL OIL COMPANIES TO INCREASE THE FINAL CONSUMER PRICE AS IT IS ALREADY
ONE OF THE MOST EXPENSIVE IN THE WORLD.
written by ABSTRACTMIND @ 9:34 am, ,
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written by ABSTRACTMIND @ 10:57 am, ,
In 1878 Thomas Edison invented the first electric light bulb. This single invention proved to be so popular that it caused a major recession in the oil industry. Since 1856 kerosene lamps were used in homes and street lamps. Historians state that the introduction of kerosene initiated the oil industry. Sales and production of kerosene trickled to a standstill as electricity and the electric light bulbs caught on quickly.
In 1908 Henry Ford’s mass produced automobile started a demand for gasoline and initiated an oil boom. Oil Pipelines were built from oilfields in
written by ABSTRACTMIND @ 10:51 am, ,
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written by ABSTRACTMIND @ 3:34 pm, ,
The crude price closed session in New York Mercantile Exchange yersterday very close to the historic record price reached of $80.20 a barrel .
this time due to the closing of three refineries in Texas because of Tropical Depressions .
OPEP in its last meeting decided to increase production in more than a year of the black gold to more 500 barrels per day due to fears that the
world economy will become more fragile.
The only solution to this ever continuing energy problem is to find alternative resorces to gradually replace crude...
written by ABSTRACTMIND @ 3:32 pm, ,
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written by ABSTRACTMIND @ 3:27 pm, ,
According to information published worldwide, Crude oil rose to a record $80.18 a barrel in New York ... the reason is once more and as always U.S. oil inventories fell greater-than-expected, supplies dropped the most this year! Prices also rose after OPEC said it would increase production by 500,000 barrels a day, less than is needed to meet a seasonal rise in demand.
Crude oil for October delivery rose to $79.91 a barrel . on the New York Mercantile Exchange, a record close. Futures also touched the highest intraday price since trading began in 1983. The previous record of $78.77 was reached on Aug. 1.
Brent crude oil for October settlement rose to $77.68 a barrel on the London-based ICE Futures Europe exchange, the highest since Aug. 7, 2006.
The world faces a serious energy problem and there are certasin OPEC members that want to continue holding the rest of the world " captive", they are
Venezuela, Algeria, Iran and Libya...according to them the world is adequately supplied with oil...
In any case what i think and many others are of the same opinion is that There's a feeling that OPEC waited too long to increase production...
Lets wait and see the outcome of this situation.
written by ABSTRACTMIND @ 10:51 am, ,
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Petroleos Mexicanos, , said saboteurs blew up three oil and gas pipelines in the state of
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The group, operating in
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written by ABSTRACTMIND @ 9:25 am, ,
Hi again and once more according to information received, fuel oil for the first time in two years is rising faster than gasoline, jet fuel and diesel, increasing the cost of ocean freight and electricity.
Demand for the fuel used in marine engines and power plants is accelerating because the world shipping fleet is growing at a record pace
``Every new refinery wants to produce more gasoline and diesel and cut back fuel oil,''
About 37 percent of global fuel oil supply is consumed in Asia, compared with 19 percent in Europe and 10 percent in
World economic growth is spurring the increase in shipping demand. The International Monetary Fund forecasts a 5.2 percent expansion in 2007, extending the longest period that growth rates have held above 4 percent since the early 1970s.
More than 8,000 vessels are on order for delivery by 2012, compared with the existing global fleet of 10,729, according to London-based Clarkson Plc, the world's largest shipbroker.
written by ABSTRACTMIND @ 3:55 pm, ,