Every year, Gov have to announce this at least 2 times
- Thread starter Alamaking
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This is the most sickening thing they always tell you just a little just a little.
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wtf is "ur power bil wil b going up over ze nax 3 mths?" ...
it shud b ...
moni-sucking power coy wil charge u mor over ze nax 3 mths! ...
tel it as it is! ...
Obviously the PAP hasn't been keeping up with the news otherwise they would provide a different excuse for hiking the power rates
http://www.cnbc.com/id/47919732
Why Oil Prices Will Keep Falling: Record Pumping
By: Patti Domm
CNBC Executive News Editor
Oil prices, down about 30 percent since March, will likely stay under pressure for now based on record global production and softer demand.
West Texas intermediate [CLCV1 79.76 1.56 (+1.99%) ] was trading higher Friday, bouncing more than a percent off its Thursday close of $78.20 per barrel. Brent [LCOCV1 91.33 --- UNCH ], the international benchmark, rose back above $90 per barrel Friday.
Despite the blip, though, analysts see oil headed further down.
The reason? The world is now pumping 91.1 million barrels per day, the most ever. At the same time, global demand in May was 89.9 million barrels per day, the International Energy Administration reported.
OPEC production, at more than 31.5 million barrels in May, was also higher than normal, though OPEC last week vowed to maintain its production at 30 million barrels per day.
Crude, like stocks and other risk assets, was part of a turbulent sell off Thursday as fears of slowing global growth gripped markets, which were also beset by speculation about pending bank downgrades and Europe’s sovereign crisis.
John Kilduff of Again Capital said after oil sinks through $78, the next level he is watching is $72 per barrel for WTI. Oil fell this week after the Federal Reserve held off a return to its quantitative easing program, seen as a catalyst for commodities and stock prices.
“If the central banks stay put, they may see that oil is helping them out. $68 is not unconceivable,” Kilduff said.
"I think the slide is going to begin to tail a little. I wouldn't be surprised to see some profit-taking rebounds. The direction for the market tends to be lower, and until we get some better economic conditions, the market is hunting for a bottom," said Gene McGillian, Tradition Energy.
McGillian said the market is heading to the lows of last year, around $75 per barrel for WTI. Brent, already at an 18-month low, could move as low as $80 per barrel.
RELATED LINKS
Is Oil's Decline Signalling Trouble Ahead?
Can the Natural Gas Sector Save the US Economy?
Brent Crude Falls to Settle Below $90 On Weak Data
Russia May Change How It Calculates Oil Price: Minister
"I think a lot of the economic worries have been priced in for the moment and the market's catching its collective breath right now," he said.
Citigroup’s Ed Morse, who heads commodities research, doesn’t expect oil to keep falling for long, but he doesn’t expect it to get back to its year highs soon either. “We think there’s no reason for a sustained price recovery for Brent above $100 or WTI above $85 through the second half of the year,” he said.
But risks return next week when there's a new batch of U.S. data, and the EU leaders meet at the end of the week on the sovereign debt crisis.
The increased production is the result of more oil coming from Saudi Arabia, as that country responded to sanctions against Iran, and increased output from Iraq and Libya. There is also a new flood of crude being produced in North America.
“We’re (the U.S.) probably close to 6.4 million barrels a day, the highest in 13 years,” said Andrew Lipow, president of Lipow Oil Associates. “My unofficial estimate compared to last June, is we’re probably up 800,000 barrels, and that is about a 14 percent increase year-over-year. It’s huge, and it’s being led by North Dakota and Texas. It’s just unbelievable.”
The unexpected supply increase also collides with a softening in demand. “We’re producing about a million barrels a day more than we’re consuming. That’s starting to be a lot,” said Kilduff.
"This is somewhat unexpected. I think that demand had been seen for a long time as being insatiable, and clearly now we've gotten ahead of it on the supply curve and the market's having to grapple with it," he said.
The IEA this month said the market is not oversupplied, just "better" supplied. It maintains its view that demand growth will be 0.8 million barrels per day in 2012, but it says slower GDP growth could threaten that expectation. It also warned that sanctions on Iran oil exports could push prices higher again, and that demand should pick up from power suppliers and others.
IHS CERA Chairman Daniel Yergin, speaking by phone from the St. Petersburg International Economic Forum, said the higher OPEC production level made sense just several months ago, when speculation around the Iranian reaction to sanctions sent prices higher.
“It was a quite remarkable period when you go back four months ago. Oil prices got as high as $128 and people were talking about $160, and now it’s at $90,” he said.
“It shows three things: the relentless increase in supply, particularly led by the Saudis, who have been producing very steadily at high volumes since last year and the beginning of this year. Secondly, it reflects the growth of oil from countries as diverse as Iraq and the United states,” said Yergin.
“The supply situation is very different than it was three months ago when Iran was threatening to close the Strait of Hormuz, and the other thing is the bad economic news and weak demand,” he added.
The U.S. has restricted dealings with the Iranian central bank, and Europe has sanctioned Iranian oil starting at end of this month
Yergin said some of the Iranian oil has already been taken out of the market and the drop in oil prices is also pinching Iran, which has been engaged in talks with a group of six nations on its nuclear program.
So far, Iran refuses to abandon its uranium enrichment program, denying it is seeking to develop nuclear weapons.
The Iran situation remains a wild card for oil prices. The IEA also reported that preliminary data indicates imports of Iranian crude by major consumers had fallen by 1 million barrels per day in April and May from levels seen last year.
http://www.cnbc.com/id/47919732
Why Oil Prices Will Keep Falling: Record Pumping
By: Patti Domm
CNBC Executive News Editor
Oil prices, down about 30 percent since March, will likely stay under pressure for now based on record global production and softer demand.
West Texas intermediate [CLCV1 79.76 1.56 (+1.99%) ] was trading higher Friday, bouncing more than a percent off its Thursday close of $78.20 per barrel. Brent [LCOCV1 91.33 --- UNCH ], the international benchmark, rose back above $90 per barrel Friday.
Despite the blip, though, analysts see oil headed further down.
The reason? The world is now pumping 91.1 million barrels per day, the most ever. At the same time, global demand in May was 89.9 million barrels per day, the International Energy Administration reported.
OPEC production, at more than 31.5 million barrels in May, was also higher than normal, though OPEC last week vowed to maintain its production at 30 million barrels per day.
Crude, like stocks and other risk assets, was part of a turbulent sell off Thursday as fears of slowing global growth gripped markets, which were also beset by speculation about pending bank downgrades and Europe’s sovereign crisis.
John Kilduff of Again Capital said after oil sinks through $78, the next level he is watching is $72 per barrel for WTI. Oil fell this week after the Federal Reserve held off a return to its quantitative easing program, seen as a catalyst for commodities and stock prices.
“If the central banks stay put, they may see that oil is helping them out. $68 is not unconceivable,” Kilduff said.
"I think the slide is going to begin to tail a little. I wouldn't be surprised to see some profit-taking rebounds. The direction for the market tends to be lower, and until we get some better economic conditions, the market is hunting for a bottom," said Gene McGillian, Tradition Energy.
McGillian said the market is heading to the lows of last year, around $75 per barrel for WTI. Brent, already at an 18-month low, could move as low as $80 per barrel.
RELATED LINKS
Is Oil's Decline Signalling Trouble Ahead?
Can the Natural Gas Sector Save the US Economy?
Brent Crude Falls to Settle Below $90 On Weak Data
Russia May Change How It Calculates Oil Price: Minister
"I think a lot of the economic worries have been priced in for the moment and the market's catching its collective breath right now," he said.
Citigroup’s Ed Morse, who heads commodities research, doesn’t expect oil to keep falling for long, but he doesn’t expect it to get back to its year highs soon either. “We think there’s no reason for a sustained price recovery for Brent above $100 or WTI above $85 through the second half of the year,” he said.
But risks return next week when there's a new batch of U.S. data, and the EU leaders meet at the end of the week on the sovereign debt crisis.
The increased production is the result of more oil coming from Saudi Arabia, as that country responded to sanctions against Iran, and increased output from Iraq and Libya. There is also a new flood of crude being produced in North America.
“We’re (the U.S.) probably close to 6.4 million barrels a day, the highest in 13 years,” said Andrew Lipow, president of Lipow Oil Associates. “My unofficial estimate compared to last June, is we’re probably up 800,000 barrels, and that is about a 14 percent increase year-over-year. It’s huge, and it’s being led by North Dakota and Texas. It’s just unbelievable.”
The unexpected supply increase also collides with a softening in demand. “We’re producing about a million barrels a day more than we’re consuming. That’s starting to be a lot,” said Kilduff.
"This is somewhat unexpected. I think that demand had been seen for a long time as being insatiable, and clearly now we've gotten ahead of it on the supply curve and the market's having to grapple with it," he said.
The IEA this month said the market is not oversupplied, just "better" supplied. It maintains its view that demand growth will be 0.8 million barrels per day in 2012, but it says slower GDP growth could threaten that expectation. It also warned that sanctions on Iran oil exports could push prices higher again, and that demand should pick up from power suppliers and others.
IHS CERA Chairman Daniel Yergin, speaking by phone from the St. Petersburg International Economic Forum, said the higher OPEC production level made sense just several months ago, when speculation around the Iranian reaction to sanctions sent prices higher.
“It was a quite remarkable period when you go back four months ago. Oil prices got as high as $128 and people were talking about $160, and now it’s at $90,” he said.
“It shows three things: the relentless increase in supply, particularly led by the Saudis, who have been producing very steadily at high volumes since last year and the beginning of this year. Secondly, it reflects the growth of oil from countries as diverse as Iraq and the United states,” said Yergin.
“The supply situation is very different than it was three months ago when Iran was threatening to close the Strait of Hormuz, and the other thing is the bad economic news and weak demand,” he added.
The U.S. has restricted dealings with the Iranian central bank, and Europe has sanctioned Iranian oil starting at end of this month
Yergin said some of the Iranian oil has already been taken out of the market and the drop in oil prices is also pinching Iran, which has been engaged in talks with a group of six nations on its nuclear program.
So far, Iran refuses to abandon its uranium enrichment program, denying it is seeking to develop nuclear weapons.
The Iran situation remains a wild card for oil prices. The IEA also reported that preliminary data indicates imports of Iranian crude by major consumers had fallen by 1 million barrels per day in April and May from levels seen last year.
erection2015
Alfrescian (InfP) + C
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they will always say its not 100% linked....which means if oil goes up in price we always pay more....but if oil prices come down its not necessary that we
pay less. Few can understand this type of thinking.
pay less. Few can understand this type of thinking.
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Is it like a CB that looks big, but it doesnt means its not tight? LOL
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They already said that electricity price is not related to oil price. But they don't tell you how they calculate leh.
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Then how now? :(:(:(
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hi there
1. ak, sheep and running dogs got to feed themselves right!
2. no specimen and creatures do it foc hoh.
3. if don't eat now then when?
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The prices of gas & oil prices is down. There is a recession going on. Gov'ts everywhere are scaling back spending except in Spore. Must ask the PAP in the next election because they become deaf when it's not an election year
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It is linked to the price of natural gas if I remembered correctly. There was one year when oil prices went up and they said that caused natural gas prices to increase as well, hence higher power prices. Maybe the equation only works when oil prices go up...if oil prices go down, then must consider a lot of other factors.
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Every time increase 2%(6 month) one year 4% Sinkie will lan lan also pay.
Sinkie have been sold and trick by PAP gov tell selling Sp power will bring down the electricity price. When oil price up electricity up few %. When oil price down?????? What happen no price reduce or only drop by 0.5% just for show.
In US some state electricity rate is about SG$0.10/kw. SG is selling 2.5time the rate.
Sinkie have been sold and trick by PAP gov tell selling Sp power will bring down the electricity price. When oil price up electricity up few %. When oil price down?????? What happen no price reduce or only drop by 0.5% just for show.
In US some state electricity rate is about SG$0.10/kw. SG is selling 2.5time the rate.
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Pappies screwing the peasants, when oil price up, say electricity bill have to go up. When oil price down, say electricity bill not link to oil price. CCB, not link to oil price, link to what? Link to ASS LOONG's ass arh?
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I might be wrong on this but are we the only country to sell our assets to foreign companies? So if one fine day these power stations decides to shutdown then we're at their mercy?
Tuas Power Station.
http://www.tuaspower.com.sg/
Seraya Power Station.
http://www.ytlpowerseraya.com/index.php?option=com_content&task=view&id=7&Itemid=29
Don't know who runs Senoko but i know this foo runs the other power station in Sinkapoor.
http://www.stjamespowerstation.com/index.htm
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don't like that lah, electricity price got go down before. It went down 2% after 2 quarters of 3% increments. Then after that another 5% increment, something like that.
how come no one ask the government why our pay never go up as high as that? I mean we are also impacted by oil price increase mah.
how come no one ask the government why our pay never go up as high as that? I mean we are also impacted by oil price increase mah.
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because shit say said sinkapoor employees should be cheaperer, betterer, fasterer.
so thats why our pay never go up.
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dat loon burger raised tariffs 2 ensure dat dose coys were making goot moni b4 selling dem 2 ze 4eign coys ... y shud ze 4eign coys decide 2 kill a goose datz laying golden eggs? ...
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