Skip to main content

Oil now officially cheaper than water as price collapse threatens financial security



























Analysts call current barrel cost 'unsustainably low'






ADAM WITHNALL



Tuesday 16 December 2014


















The price of oil has spectacularly collapsed, affecting not just Vladimir Putin’s plans for world domination but also every single person in the UK.






There are a number of ways this can be represented – but perhaps the simplest is to say that oil by the barrel is now cheaper than bottled water.






That’s the verdict if you compare the current, shockingly low price of below $60 (£38) per barrel for Brent crude, and the cost of a (value!) multipack of six, 1.5-litre Evian natural mineral water bottles.






The £3.80 water pack works out at about 42p per litre – some 40 per cent cheaper than oil at 24p a litre.




John Kemp, a market analyst for Reuters, pointed out the bizarre state of affairs on Twitter and said not only that the current oil price represented “an unsustainable low level” – but that it was “impossible to predict how low prices might fall”.







 





Evian natural mineral water six-pack, as listed on the Tesco website “In a bubble, prices tend to become far more distorted than rational observers thought possible before correcting, so there is no reason why oil prices cannot fall further in the short term,” he said.





Falling energy prices have seen inflation falling as well in the UK, meaning that annual wage rises could soon be higher than annual increase in prices, easing the cost of living.





READ MORE:
















But analysts fear the collapse in oil could also wipe billions off the value of London-listed companies like BP, threatening investment and thousands of jobs in the industry.







The Bank of England has also warned that if oil prices remain this low it could threaten the financial stability of the country itself.








http://www.independent.co.uk/news/business/news/oil-now-officially-cheaper-than-water-as-price-collapse-threatens-financial-security-9928574.html


Popular posts from this blog

MEET MELANIA TRUMP: The 5'11" supermodel married to Donald Trump

Aly Weisman, INSIDER

Sep. 2, 2015, 3:28 PM 











Chip Somodevilla/Getty Images







While Donald Trump loves to be the center of media attention, his third and current wife, Melania Trump, is a bit more camera shy.










The Slovenian-born model keeps a lower profile than her husband, doing philanthropy work, raising their son, working on a jewelry collection with QVC, and creating a $150-an-ounce caviar moisturizer.




With Trump on the campaign trail, Melania has stoically stood by his side.




But who exactly is Melania and where did she come from? Learn about Trump's other half here ...





Melania Knauss was born April 26, 1970, in Slovenia.




Wikimedia/Getty







The 5'11" brunette began her modeling career at 16, and signed with a modeling agency in Milan at 18.



Chris Hondros/Newsmakers via Getty









She took a break from modeling to get her degree in design and architecture at the University of Ljubljana in Slovenia.








Wikimedia/Getty

Source: MelaniaTrump.com









But after graduating, her modeling career took off and Me…

THE MOST SOUGHT AFTER MANGOES IN THE WORLD ....

While "Flavor" is very subjective, and each country that grows mangoes is very nationalistic, these are the mango varieties that are the most sought after around the world because of sweetnesss (Brix) and demand.

The Chaunsa has a Brix rating in the 22 degree level which is unheard of!
Carabao claims to be the sweetest mango in the world and was able to register this in the Guiness book of world records.
Perhaps it is time for a GLOBAL taste test ???





In alphabetical order by Country....










India




Alphonso





Alphonso (mango)
From Wikipedia, the free encyclopedia








Alphonso (हापुस Haapoos in Marathi, હાફુસ in Gujarati, ಆಪೂಸ್ Aapoos in Kannada) is a mango cultivar that is considered by many[who?] to be one of the best in terms of sweetness, richness and flavor. 


It has considerable shelf life of a week after it is ripe making it exportable. 

It is also one of the most expensive kinds of mango and is grown mainly in Kokan region of western India.

 It is in season April through May and the fruit wei…

INDIA 2016 : Mango production in state likely to take a hit this year

TNN | May 22, 2016, 12.32 PM IST






Mangaluru: Vagaries of nature is expected to take a toll on the production of King of Fruits - Mango - in Karnataka this year. A combination of failure of pre-monsoon showers at the flowering and growth stage and spike in temperature in mango growing belt of the state is expected to limit the total production of mango to an estimated 12 lakh tonnes in the current season as against 14 lakh tonnes in the last calendar year.



However, the good news for fruit lovers is that this could see price of mangoes across varieties decrease marginally by 2-3%. This is mainly on account of 'import' of the fruit from other mango-growing states in India, said M Kamalakshi Rajanna, chairperson, Karnataka State Mango Development and Marketing Corporation Ltd.




Karnataka is the third largest mango-growing state in India after Uttar Pradesh and Maharashtra.



Inaugurating a two-day Vasanthotsava organized by Shivarama Karantha Pilikula Nisargadhama and the Corporation at P…