Oil price - Temporary upwards blip OR the only way is up?

[Gazcw]

Tomorrow's press reports extensive 'greenwashing' by major oil companies who extensively make reference to climate change and efforts to combat it, whilst they are actually doing very little on that front and are instead relying on fossil fuels with little or no investment in clean energy.

Well, there's a surprise.

Hence 10 Billion of profits.

 

[P R]

Even with aggressive cuts in things like motor transport and domestic energy studies are showing that in 50y oil demand will have dropped around 30% from today..

 

[2b1ask1]

Not sure where to park this, having gone from sole trader to Ltd Co I’m the last year I’m looking at a whole raft of different tax rules and options.

Just had a really interesting chat with the book keeper about using my van or if the company should buy it. And he mentioned that as I’m often ‘crewing’ with Christine or others we should be claiming this one:

https://www.gov.uk/expenses-and-benefits-business-travel-mileage/passenger-payments

i was completely unaware this was a thing. I hope at least one on here can get something out of it.

 

[safrane]

Our staff can claim this too Newton, including using the boot for kit/dogs etc as long as said kit etc is for Work

 

[DaveT]

https://www.gov.uk/expenses-and-benefits-business-travel-mileage/passenger-payments

i was completely unaware this was a thing. I hope at least one on here can get something out of it.

That's a new one on me. Thanks for sharing.

 

[MarkMas]

Crude Oil Prices - 70 Year Historical Chart

Interactive charts of West Texas Intermediate (WTI or NYMEX) crude oil prices per barrel back to 1946. The price of oil shown is adjusted for inflation using the headline CPI and is shown by default on a logarithmic scale. The current month is updated on an hourly basis with today's latest value.

www.macrotrends.net

 

[2b1ask1]

Our staff can claim this too Newton, including using the boot for kit/dogs etc as long as said kit etc is for Work

i like that thinking Peter, Christine needs to take an extending ladder with her to do the inspections, would you suggest that that qualifies?

assuming however that I would be unlikely to be able to claim for the 1,000 + kg of tools and equipment I lug around in the van?

 

[safrane]

My understanding is it is down to wear-and-tear as well as the extra fuel used to transport it... so you may be able to if the item is in the cab.

 

[safrane]

From or policy;

7.10 Passenger supplement
7.10.1 You may claim a passenger supplement, in conjunction with public transport and standard rate of motor mileage, for each official passenger you carry in your private car - including official dogs. No passenger supplement is paid in respect of solo motorcycles and similar machines.

7.11 Equipment supplement
7.11.1 You may claim the equipment supplement, if you necessarily carry equipment inside your private car which is likely to cause abnormal deterioration to the interior of the car, This supplement is not payable if the equipment could be carried in the boot or on a luggage rack or is carried in an estate car or in a trailer. It is payable with both standard and public transport mileage rates and is taxable.

 

[Le Unu]

I'm amazed given the quantity of spoon type comments I haven't come up in the one thread I'll probably have the most chance of successful thread benefit.

Oil isn't dead and buried yet @conaero you might be well surprised your 10 year prediction is optimistic.

 

[williamsmix]

Let’s see if Biden’s initiative actually delivers a price reduction at the pump! The Budget doesn’t seems to have delivered anything for me locally. Yesterday I paid £179.9 per litre for E5 here on the Isle of Wight. This near 80% annual inflation on fuel typifies the massive gap between both the political and state funded rhetoric coming out of the BBC and the inflation reality on the ground …

 

[Le Unu]

Let’s see if Biden’s initiative actually delivers a price reduction at the pump! The Budget doesn’t seems to have delivered anything for me locally. Yesterday I paid £179.9 per litre for E5 here on the Isle of Wight. This near 80% annual inflation on fuel typifies the massive gap between both the political and state funded rhetoric coming out of the BBC and the inflation reality on the ground …

Distribution fuel has been that for weeks excluding vat.

There are signs of a change however they will be mitigated by the shift in demand between gas oil and derv.

I hope I'm wrong, but £2 a litre for the domestic market is hanging by a thread.

 

[Gazcw]

Distribution fuel has been that for weeks excluding vat.

There are signs of a change however they will be mitigated by the shift in demand between gas oil and derv.

I hope I'm wrong, but £2 a litre for the domestic market is hanging by a thread.

I hope you are very wrong too!

 

[williamsmix]

I hope you are very wrong too!

Yes, the Treasury’s take is currently about 50% of the pump price. How long is it going to take the (clearly dense Oxbridge educated) folk in Whitehall to realise that their tax policy on fuel is key to spiralling inflation? …

 

[Le Unu]

Yes, the Treasury’s take is currently about 50% of the pump price. How long is it going to take the (clearly dense Oxbridge educated) folk in Whitehall to realise that their tax policy on fuel is key to spiralling inflation? …

It's the only tax that I can think of that you pay tax on a tax.

57.9p added to diesel. Then vat is added to the whole price.

Lower fuel prices does wonders for the economy.

 

[Froddy]

Crude is testing lower trendline support on the daily chart - big price decision. Will it fail here, or bounce? We'll have to wait and see!