Oil Costs Drive Up Price of Raw Materials

[sintax]

Oil costs drive up price of raw materials

Mark Tran
Monday August 8, 2005

Higher oil prices helped push the cost of raw materials up at the fastest pace for at least 20 years during July, official figures showed today.

The Office for National Statistics (ONS) said producer input prices rose by a seasonally adjusted 1.8% last month, taking the annual rate to 13.4%. The annual rise, driven by surging oil prices, was more than the 12.2% consensus forecast.

Meanwhile, prices at the factory gate also rose more than had been expected as manufacturers began to pass on increased costs on to customers.

http://www.guardian.co.uk/business/story/0,3604,1544994,00.html

[Mr.Green93]

1. We are getting near the tipping point

This economy is going to crash and take the thuglians with it.

[aquart]

4. Uh. It will take us down, too.

And every Democrat and journalist who poo-pooed election theft....oh, I have no kind thoughts for you.

[Rainscents]

2. Yep, we are at tipping point!!!

:banghead:

[The_Casual_Observer]

3. fastest pace for at least 20 years during July

No shit. 13.4% inflation is a little bigger than the bogus 2% figure provide by the wh on a daily basis. We have now returned to the bad old Ford/Carter/Reagan days of pre-Clinton suffering.
Shit.

[CHIMO]

5. Has

Anyone looked at the prices of fresh vegetables? Guess that accountants get their meals served to them and pass the bill along.

[VegasWolf]

6. No! Really? Could have knocked me over with a feather when I heard that!

[Doremus]

7. If you haven't already, right now would be a great time to pay down debt.

Especially if you have any adjustable rate loans.

I remember those halcyon days of Reagan/Bush when interest rates were 16%, the housing market was DOA and nobody could afford car payments -- or any other loan for that matter.

Economic growth ... can you say screeching halt?

[Dogmudgeon]

8. Oil is only at $64/bbl

What do you think will happen at $90/bbl?

$125/bbl?

$175/bbl?

Inflation. Unemployment. Chaotic effects on investments, leading to chaotic effects on business, industry, and international trade.

This is the Peak Oil Endgame Scenario. The oil companies are making more profit on less product than ever before, and they intend to squeeze the market dry before oil becomes a "boutique fuel".

The day it becomes cheaper for the working poor to quit their jobs than to pay for the fuel to get to them, we'll be on the timer. Everything requiring energy will become transformed into an instrument of economic and cultural destruction. There will be only one way to reverse that trend -- the quick development of alternative sources of energy, AND a rapid population re-alignment away from fuel-wasteful suburban sprawl.

If we dither and dally, bellyaching about whether or not it's "socialism", it will be an irreversable decline.

This process ought to take about a decade.

--p!

[natrat]

9. wouldn't it require massive change right now and billions in research?

lot of folks gonna die

[Dogmudgeon]

11. Well, you see, it's not that simple, uh, it's *hard work*, but, well ...

Yes.

Everybody gonna die. But a lot of us are gonna die in our 30s and 40s and 50s instead of our 70s and 80s and 90s.

We'll die hungry and cold in our dark, heatless homes and apartments; and many of us will die sick, as well.

What is it the superior wits at the Darwin Awards say? "Evolution In Action" -- ? Yeah, all the stupid people will die.

So will all the smart people. The only people who won't die will be the rich people.

Thus, the Light of Reason shall survive.

--p!

[sintax]

10. Well Stated n/t

[teryang]

12. At this point I'm subsidizing my employer

I'm living in a home I couldn't afford on my pay. I'm driving to work in an old (paid for) reliable car that I cannot afford to replace. And my expenses for my household operations exceed my take home pay. By the way, I'm living very modestly in a working class neighborhood.

In other words my employment is an unfair bargain at this point. I suppose that it is for many people and this is why 2 and three earner households are becoming a norm and workers with more than one job. The costs of living are escalating rapidly and I'm past a tipping point right now.

[sintax]

13. It's amazing

how quickly everything has become sooo expensive.

Takin' out a loan for the evening meal. Our society is grossly unjust. Time for change.

[mbperrin]

14. Hmmmm...ya think this could be a problem?

(Turns back to more no-news from Aruba).

:crazy: