A good number of Pattaya’s foreign residents are off-shore workers. They spend a month on the platforms and then resume the lfife of leisure once back home. The money has never been so good with the price of oil rocketing through the $100/barrel celiing.
Boom time since the price increase is a result of mostly market speculation. Unrest in Pakistan. Add a $1. Unrest in Nigeria. Add a dollar. Iran getting nuclear fuel from the neo-USSR. Add $1.
“This is the culmination of everything that we talked about last year,” said John Kilduff, vice president of risk management at MF Global in New York. “Various geopolitical problems have deteriorated overnight, in particular Nigeria and Pakistan. Commodities, and in particular oil, have become safe havens in a dangerous world.”
No turmoil influences price as much as GW Bush being president.
New York crude dropped to this century’s low of $16.70 a barrel on Nov. 19, 2001. This was 2 months after 9/11. Under GW Bush the world has seen a nearly six-fold augmentation of the price per barrel, making the US President the Oil Industry’s Man of the Decade.
With gas over 32 baht per liter in Pattaya I have to admit I’m still comfortable driving my motorscooter, however ecstatic I refused to buy an SUV for my wife. Somehow she doesn’t understand that a bigger engine means having to spend more money. probably because the money doesn’t come out of her pocket but from Mr. ATM.
Her loving farang husband ie me.
The other day she longingly regarded a CRV and started to open her mouth.
“No.” We have a Toyota Altis 1.8
“No arai.”
“No.” I didn’t want to hear about buying a new car, especially one with a 3.2 liter engine.
She folded her arms and didn’t speak for the rest fo the ride to Satthahip. The word ‘no’ is a new one, since I’ve been saying ‘later’ for years, which she has always interpretted as ‘later I will’.
Not in this case.
$100 a Barrel is going to cost me and sually the place it hurts the most.
For a can of beer.
Ouch.
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