Oil at $120 a barrel

[AtW]

All this hot off the press money go into commodities bubble, can't blame bankers really - why invest into local businesses that can't compete with China and will give 5-10% dividends at best when you can buy oil, gold, wheat and make far more without much thinking?

[DimPrawn]

All this hot off the press money go into commodities bubble, can't blame bankers really - why invest into local businesses that can't compete with China and will give 5-10% dividends at best when you can buy oil, gold, wheat and make far more without much thinking?

Yep. A bankers job is to make as much money (profit) as possible and get the biggest bonus possible.

You could lend to some dodgy business likely to fold in 2 years time, little reward, high risk, or you could buy up futures contracts on every single drop of oil, or food produced, and own the market and name your price.

Boomed! Everyones a winner!

[AtW]

Look, it's like this:

Nature has a certain order. It's a bug-eat-bug world out there. One of those Circle of Life kind of things. Now let me tell you how things are supposed to work: The sun grows the food, the ants pick the food, the grasshoppers eat the food...

[Mich the Tester]

I reckon we'll see $150 dollars a barrel this year, next year is a global crash.

I was awoken by the unpleasant sight of Bloomberg TV in my hotel this morning. In between the bars of numbers flying past the screen at varying speeds there was an American woman with a plastic face saying she believes oil will hit $220 this year.

I switched over to German TV and watched Pingu instead.

[DimPrawn]

Thankfully for us in the UK, the cost of petrol is almost all duty and VAT, so even if the price of oil doubled, the price of fuel at the pumps will hardly rise.

Well done that government!

[TimberWolf]

If I still had my old beloved Mondeo, a full tank of diesel would be worth more than the car.