Oil at $20

[NorthWestPerm2Contr]

all good stuff imho

plus, it works the greens over, which makes me ver happy

Why is that? Because of your blind western biased? Saudi are a rich ISIS funding all the terrorists around the world and thinking it has some kind of influence on the region. The reality is that Iran is far superior in terms of it's politics and influence on the region and ISIS Bedouin Saudi is just jealous.

[DaveB]

Re fracking. In the US the private land owner shares in the windfall. You'd expect that would also be the case in the UK? Wrong..the uk government is going to pass legislation enabling them to steal it from under the landowner. Disgusting

The Crown already owns the mineral rights for Coal, Oil, Gas, Gold and Silver for the whole of the UK. The Govt. sells licenses to extract whatever it happens to be to the highest bidder.

For anything else the land owner holds the rights but extraction must be approved in the form of planning permission from the relevant mineral planning authority.

[Platypus]

the Marquess of Bute profited in the 19th Century from coal.

Funny you should mention him, I was at his (old) house the other day. Nice place it is too. Lucky barsteward.

[petergriffin]

There is an oil+currency war going on between USA on one side and China/Russia/Iran on the other.

The US should be very careful at playing this game because China and Russia can, in the event of SHTF, stop using the Dollar for any commodity transaction and create a currency tied to gold (which they have in abundance) and put the US out of business. If then the US decided for war, Russia and China have enough nuclear weapon to retaliate.

[GlenW]

There is an oil+currency war going on between USA on one side and China/Russia/Iran on the other.

The US should be very careful at playing this game because China and Russia can, in the event of SHTF, stop using the Dollar for any commodity transaction and create a currency tied to gold (which they have in abundance) and put the US out of business. If then the US decided for war, Russia and China have enough nuclear weapon to retaliate.

And Neil Armstrong did not go to the moon.

[MyUserName]

The US should be very careful at playing this game because China and Russia can, in the event of SHTF, stop using the Dollar for any commodity transaction and create a currency tied to gold (which they have in abundance) and put the US out of business.

Could you talk me through that? I am not necessarily doubting you I am just curious as to how it would work.

[petergriffin]

Could you talk me through that? I am not necessarily doubting you I am just curious as to how it would work.

Which one? The currency part or the oil part?

[GazCol]

It's probably a lot to do with ensuring ISIS cannot distribute oil for profit rather than any geopolitics between Saudi Arabia & Iran.

[TestMangler]

Funny you should mention him, I was at his (old) house the other day. Nice place it is too. Lucky barsteward.

Where ? Mount Stuart ??

[petergriffin]

Those who have the time and the brain power can read this (LONG!!):
http://www.atomcapital.co.uk/wp-cont...354AR_1114.pdf

You might not agree but what John Butler says makes sense.