Kingster Posted April 20, 2020 Posted April 20, 2020 Figured out how The Govt can pay for the mess we are in right now By stockpiling as much oil as we can (price fell as low as minus $37.63 a barrel - so they pay you to take it!) that way we sit this Covid thing out and pay for it by reselling the oil when things return to normal and the price goes back to silly money! Now where can I find an empty tanker... 1 Quote
Chris Broster Posted April 21, 2020 Posted April 21, 2020 Chris, don't laugh but UK Govt makes a fortune in Ascension Island doing just that! UK MOD buy oil from cheapest source, normally US Military. US Ship to Ascension Island UK MOD charges to unload using UK Infrastructure and Charges to store oil. UK MOD sells oil to US Air Force (who operate Ascension Island Airfield) at high UK Price (but our operations use at cost...). UK MOD makes a 'profit' to fund local facilities on Ascension and St Helena Quote
Steve (sdh2903) Posted April 21, 2020 Posted April 21, 2020 There are going to be some smarter folks than me (with more money too) who are going to become very wealthy playing the markets during this time. I see trumpton is already talking about topping up the US strategic reserves whilst they are giving the stuff away. Quote
AdamR Posted April 21, 2020 Posted April 21, 2020 Indeed. Makes you wonder if some of this mess - or at least the handling of it - is by design, eh... Quote
Captain Colonial Posted April 21, 2020 Posted April 21, 2020 I’ve phoned several local petrol stations this morning, offering to store fuel for free in my 28l and 72l mobile fuel storage cells. They all refused and I got a visit from the police, telling me to knock it off. So much for trying to help - sheesh. 1 Quote
TAFKARM Posted April 21, 2020 Posted April 21, 2020 12 hours ago, Chris King - Webmaster and Joint North East AO said: Figured out how The Govt can pay for the mess we are in right now By stockpiling as much oil as we can (price fell as low as minus $37.63 a barrel - so they pay you to take it!) that way we sit this Covid thing out and pay for it by reselling the oil when things return to normal and the price goes back to silly money! Now where can I find an empty tanker... That’s already happened Chris - China in particular. We don’t have much capacity left in the UK. Quote
TAFKARM Posted April 21, 2020 Posted April 21, 2020 13 minutes ago, Steve (sdh2903) said: There are going to be some smarter folks than me (with more money too) who are going to become very wealthy playing the markets during this time. I see trumpton is already talking about topping up the US strategic reserves whilst they are giving the stuff away. I’ve just invested in some heating oil...not retiring yet though. Quote
Steve (sdh2903) Posted April 21, 2020 Posted April 21, 2020 1 minute ago, RussH said: We don’t have much capacity left in the UK. Unfortunately true. Lots of 'our' reserves are actually held on the continent. Quote
Steve (sdh2903) Posted April 21, 2020 Posted April 21, 2020 3 minutes ago, RussH said: I’ve just invested in some heating oil...not retiring yet though. You need a bigger tank...... Might need to stone clad it to hide it next to your house Quote
MK11 Posted April 21, 2020 Posted April 21, 2020 Can’t we buy crude oil and refill the North Sea reserves, should be quite a bit of capacity there? Quote
Simon Waterfall Syman84 Posted April 21, 2020 Posted April 21, 2020 I might get shouted at as we are all petrol heads, but when we had and still will have after this mess a massive defacit. we pay with fuel duty, dont spit your tea out bare with me. A few years ago we all got very use to paying nearly £1.50l for fuel and steadily it came back down. now if you kept the price at that level everywhere and as the markets go up and down in oil price the duty paid fluctuates so its always £1.50l then we would get rid of the defacit much quicker and on the plus side the more you drove your westy the quicker the country would be out of another economic down turn. so currently they would be over recovering on 1l of petrol by nearly 45p just the mutterings of a crazy lockdown lad Quote
TAFKARM Posted April 21, 2020 Posted April 21, 2020 Not quite true Simon, fuel duty is 57.95ppl regardless of the crude or retail margins. It expect it, and a lot of other tax, will have to go up post crisis though Quote
Simon Waterfall Syman84 Posted April 21, 2020 Posted April 21, 2020 3 minutes ago, RussH said: Not quite true Simon, fuel duty is 57.95ppl regardless of the crude or retail margins. i probably didnt get it across right. when fuel is cheaper the duty should be more than 57.95ppl so we all pay the same regardless of the fluctuations in the market hopefully paying more of the deficit off. i know what i mean lol Quote
TAFKARM Posted April 21, 2020 Posted April 21, 2020 Just now, syman84 said: i probably didnt get it across right. when fuel is cheaper the duty should be more than 57.95ppl so we all pay the same regardless of the fluctuations in the market hopefully paying more of the deficit off. i know what i mean lol Ah, to paraphrase, you’re a communist Quote
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