Oil at $10 a barrel... or less

lol

I haven't seen this kind of price since the 1970s

Might be worth filling up the swimming pool (if I had one)

Cheap commodities will fuel a bit of a boom in the short term once we get back to normal

Nicola Sturgeon ought to be working full time on filling the oil fields back up

Yes, it's part of the economic meltdown that's happening whilst the world's in lockdown.

Forgot to mention: Councils are now dishing out money like confetti. A one-man business owner I know has just recieved £10000.00 straight into his bank account with almost no questions asked and no restriction as to how he should spend it. You do need to confirm you aren't a criminal though.

Edited By blowlamp on 22/04/2020 12:17:17

I have a sense of deja vu, Ady

I posted this on your “Good bits ...thread, when the news broke:

Perhaps not ‘good’ but certainly astonishing ...

NEWS : US Oil Prices turn negative : **LINK**

https://www.bbc.co.uk/news/business-52350082

MichaelG.

They could pay me to store some fuel in my car

Mike

What exact council is that?

Tony

Why does this cause surprise? Those who favour personal wealth above any other aim in life, operate happily in the 'dog-eat-dog' regime of capitalism. This mode has served them well for so long that they have forgotten that 'what goes up must come down' dictum. They now rush to the hated, tax-generated, National coffers to demand, plead, insist on State aid. I would suggest that 'it's a funny old world' were it not for nausea the present 'trough invasion' induces. I note, from today's 'You and yours' programme, that the potential advantages of the pandemic might be garnered by an entrepreneurial homeopathic procedure to protect against the virus ... an injection offered at the bargain price of £198.00. ... never miss an opportunity!

rgds

Bill

The authority is Gedling Borough Council.

I noticed the low price as I passed the petrol station today on my once a fortnight 7 mile shopping round trip. I think I have enough in the tank for the rest of the year (actually 'cos I run it every week to keep the battery fresh my mpg has dropped somewhat) not forgetting to run the aircon and move the car around to keep the seals lubricated).

I might have mentioned elsewhere that there is a side effect of there being a shortage of tarmac for road patching as it is a by product of the refining process.

Edited By Bazyle on 22/04/2020 17:20:48

Around here (Southern Ontario) the gasoline prices dropped (from ~$1.20 / litre) to $0.65 -0.75 some weeks ago. It's now rising again (perhaps 0.75 - 0.85 / litre).

This at a time when the Globe and Mail is reporting that the price of crude from the producers has gone negative (i.e. it's piling up and they are paying people to take it away).

My car is giving me an amazing 3 weeks to the gallon.....

Martin

a mate of mine just got the same exact 10k paid into his company account but it only applies if you are in the(might get this a bit wroong) rated reduction scheme...alas we are not so nothing for us.

Sounds like a Small Business Cash Grant, which is Central Government funded but administered by Local Government because eligibility requires applicants to be already receiving Small Business Rates Relief and having a rateable value less than £15,000. Read all about it here.

Interestingly, despite Brexit, the grant is still subject to EU de minimus aid rules, which apply a cap and time limits. This because we're in the interesting position of having left the EU without leaving the EU...

The Grant is part of the government's Coronavirus support effort. Its rules say 'Local Authorities should make payments as quickly as possible to support struggling businesses.' The possibility of fraud is recognised: in the event naughtiness is detected, HRMC have considerable 'claw back' powers. They can recover the money and the full cost of doing so, which can be considerably more than the original grant. No doubt there will be some fraud, for the reduction of future bother, let's hope it's tiny.

Dave