High Oil Price

October 23, 2007 at 11:15 p10 (General Chatter)

My pocket is hurt cos…. 

Oil reached US$90 a  barrel last week! Petrol went up 5 cents a liter two weeks ago! Paying more for my right to ride.

Rig maker, Sembawang Marine share price went up from 99 cents to $5.60 because of increase oil exploration activities. But niamah! one stupid Sembmarine manager lost S$272 million playing the forex and the share dropped 86 cents today after halting trade yesterday. Another China Aviation Oil in the making? How do u feel if your stock dropped 15% in a single day? Buy more or dump?

The courier service that we used in the office just increased their fees from $4 per trip to $10 per trip. Reason – higher oil price! I am sure electricity, bus, taxi & other utilities will follow…

Biofuel as oil substitute? Palm oil? Plantation share… maybe it is time to load up on some palm oil share like IndoAgri, Golden Agri or the very expensive popular Wilmar.

 Beside rising sea level which will have a direct impact, i think the escalating oil price and scarcity of sand will make little dot a very expensive place to live in the future.

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4 Comments

  1. Leonard said,

    Siao liao, siao liao! petrol kept going up and never come down. Singapore petrol companies always chop chop raise one, slow slow drop. shld say drop like no drop!

    4f: get a small car or work at an office that is near MRT station!!

  2. Maverick SM said,

    Ya, the crude prices will continue its uptrend. We got to brace for higher cost of living. But Singapore should be ok as earnings are fantastic!!!

    4f: singapore is holding on only. sustained escalation of oil price will affect the GDP. the straight times just announced that govt is putting aside a S$50 million fund for seed money for renewable energy development. mave, any good idea?

  3. wuching said,

    never mind…you are veli lich!

    4f: ssshhh…. dont tell ppl, kena culik how?

  4. LM said,

    Yes, and now taxi price also wana go up! everything go up up up through the roof! Only way to survive is if you have your salary pegged somewhere to something.

    4f: the price of things are going up in an alarming and concerted rate. the latest round of proposed taxi fare increase will be another ploy of the fat cats of taxi companies to line their pockets if they increase the taxi rental or remove some taxi subsidy.

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