The blog of Michael Cabon

There is something disturbing about the way in which narrated the recent increases in oil prices in international markets.

Photo: French museum of oil.

Speaking of prices in euro
One gets the impression that the 70 dollars a barrel has become the equivalent of 6 meters in Sergei Bubka pole vault. A limit inhuman. Proposal: we give the price of oil in euros, it will be cheaper. Seriously, it's still an essential point. Give the price per barrel as dollar value of foreign exchange of U.S. currency changes dramatically given, right?

Own a subway? Chick!

Each time the oil, we'll talk on the alternative modes of transport. Chick! One elected environmentalist spoke this morning on the radio to promote public transport. Be. Since 1979 we talk about that. They forget the attachment of the French in their car, constitutive of their personality, social marker par excellence, a symbol of freedom. It can be mock. The facts are there. Which has already taken public transport in Paris not only promote the subway is already making it clean and make him feel good.

The adolescent crisis traders

- The oil market is a speculative market of choice (like all strategic raw materials to consumer). In fact, it is subject to the vagaries of geopolitical constraints, as allegedly planned invasion of Iran by the United States, or even internal problems in Chad, the "revolution" Venezuelan (though Hugo Chavez is generous in giving to American families in need something to warm up for the winter. Truthful). Therefore, the psychological part of making this market becomes predominant completely unstable. This is the realm of speculation in the land of traders. International buyers are also becoming a teenage spotty sensitive to anything that may happen in the world, interpreting events according to a priori.

The interest of all

- As many intermediaries are paid a percentage, everyone has an interest in oil prices soar. (Read also at Wiley , a new collection: 100 small experiences .... including that of Nicolas Guéguen on consumer behavior. We will come back) - The current crisis is primarily anticipatory risks related to low stocks in Western countries, including the United States. It is also linked to weak refining capacity of crude oil and few resources committed to the discovery of new resources. - Finally, is it not normal that in the long run prices rise. Since the mid-50 Anene, the consumer price INSEE said were multiplied by twelve. That's about the same trend for the construction price (although the latter periods, the increase is greater). In 1955, oil prices, in USD, and on average depending on its source, was 18 dollars. It mulitple by twelve: 216 dollars. This is the price of a barrel, if it had kept pace with inflation in a country like France. Result: we should smile, oil is three times less than it should.

For more information on the Internet:

- The peak oil , for today or tomorrow? - The history of oil prices (in English)

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