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The usual gross generalisation from pandamonia…no Venezuela does not have more oil than anywhere else on earth. It may have more identified oil but there are vast swathes of the world’s oil unexplored/unexploited.
Inelastic means rigid, why is this difficult to understand?
Why do you think Spain has issued decrees on heating , ditto France, ditto Germany?
Perhaps you are happier that Biden intends to put a price cap on Russian oil? That’s bound to work, not.
Probably pointing out the bleeding obvious but isn’t it a weird coincidence that RMG and the blasted railway unions call strikes over the bank holidays….do they just fancy cheaper flights and longer hols?!
“Nothing to do with the situation in Ukraine”…beg to differ . The cause is sanctions on Russian fuel exports…including gas. Supply shrinks + demand inelastic = price increases
Basic economics. Demand will remain inelastic until alternative streams of supply are available.
The media are obsessed with talking of the average electricity bill going up to over 4K…average for what: house?, flat? They are scaring the beejeezus out of people…my ma is even talking about giving up smoking, after 60 odd years…a straight percentage would be handier.
LGEN holders happy for same reason. Problem for ABDN is the market’s perception of them and that extends to their products, very rarely see their ITs being included in lists …AEI for one.
Bird is not media catnip either.
As across the piece with share buybacks see LLOY, ABDN ETC. , Hays buybacks doing absolutely nothing for shareholders…voted against last time given the chance, will vote against next time..would be nice if institutional investors would do the same.
Some of us have been here before when it was a lot worse on interest rates….1.75 bank rate is not heart- stopping. Any borrowers have been lucky to have had pretty much zilch bank rate for a long time…the gravy train stops at some point. Inflationary pressures from Ukraine / Russian battles is the reason behind this inflation momentum…stop the battles, stop the supply chain mess. UN humanitarian aid programme director begged at the start of the sanctions for them not to go ahead, as Russia is where they source the food for famine relief…he was roundly ignored, and now countries who aren’t in the programme are facing cereal shortages…just enough. End of knee jerk reactions by idiots. If it’s any consolation, France has a mustard crisis..who knew Russia was the third largest mustard seed producer in the world..and Australia is suffering a hummus shortage…chickpeas in short supply, Russia 4th largest producer…God save the vegans.