UKC

ok, I accept that there is some really rough maths going on here but:

The world uses between 75 and 85 million barrels of oil per day and, at its peak last summer it was $140/barrel.

It is now down to $40/barrel.

Thats $75-$8500,000,000 dollars that was sucked out of the economy in the summer but is now not being spent.

So where is it?

In reply to Removed User:

Might explain why not many of use have any money, as we spent far more on fuel last year than we should have done so.

Shell only made a mere $31.4 billion in profits last year, though...

http://news.bbc.co.uk/1/hi/business/7857532.stm

In reply to Removed User:

That bloke on the Dubai program last week had a Versace Lamborghini with a personal number plate which cost 4m (the number plate not the car).
There's a little bit of it.

The Ent

In reply to Enty: But where's the money that he spent on the car and number plate gone?

In reply to mypyrex: Well he tried to splash it all out on Kaka. Because Kaka wouldn't play ball hes still got it under the matress. I think Dubai has taken a bit to build as they had to fly everything in.

In reply to Removed User:

No, that's a shedload of money that was being spent on oil last year instead of being saved, spent on other things or not borrowed/overdrawn.

In reply to Removed User:

It never existed.

All that existed was the oil and the *potential* to sell it for something sometime in the future. That "for something" has now got smaller.

(Actually, not all the oil really existed either, but that's another story!).

j