Finance ministers review global crisis

Joe Vella

Oct 7th 2008, 15:25

@ L. Galea

For your information the US Dollar over the last 30 days have gained strength vis-a-vis the EURO and not as you claimed. On July 1st one needed 0.63380 Euro Cents to buy 1 US Dollar where today one needs 0.73590 Euro Cents to buy 1US Dollar. In other words although the price of oil went down the net benefit is not the full amount of the reduction in the price of oil, since one has to factor in the increase of the cost in buying US Dollar.

Paul Smith

Oct 7th 2008, 13:36

It wont be falling below 50 UDS
it will not be economical to extract it, besides, this downside in oil is a brief respite.
Malta, get prepared to live in a world of less and less oil.

l Galea

Oct 7th 2008, 11:31

Also remember that the US Dollar has gone down so that the actual price will be lower.

A Daley

Oct 7th 2008, 09:42

Even before leaving we are hearing some silly statements, like-

The council will also be discussing the high prices of raw materials, including oil, and their effect on the member states - unquote.

If there is a commodity that will be going down in value it’s going to be OIL.

It 's value is already going down and with much less consumption in the months to come the price of Oil is going to go even lower and as low as $55.

Imhatra ma rajtix gejja din Tonio Fenech?