Oil prices plunge to $70!

[Kompromat]

Pakistan will save $7 billion this year. Looks like Nawaz and co are about to get filthy rich.

 

[Bilal.]

Pakistan will save $7 billion this year. Looks like Nawaz and co are about to get filthy rich.

Hope the cushion is not wasted on short term eye candy projects but rather used to build a coal (specially local) and hydel based power production infrastructure, improved transmission and distribution network and revamping and expansion of railways so that when the prices go up again we would be ready. We may start getting current account surpluses if we play it right...

 

[Kompromat]

Hope the cushion is not wasted on short term eye candy projects but rather used to build a coal (specially local) and hydel based power production infrastructure, improved transmission and distribution network and revamping and expansion of railways so that when the prices go up again we would be ready. We may start getting current account surpluses if we play it right...

Dream on

 

[fallstuff]

This one got Russia written all over it.

 

[VCheng]

This drop in oil price will help the government show to the IMF that it has been able to reduce subsidies which are part of its commitments to remain qualified for the current program.

Who doesn't love cheaper gasoline?

 

[Marshmallow]

hullo boring ppl

 

[BDforever]

hullo boring ppl

marshmallow ! ! !

 

[Bilal.]

This drop in oil price will help the government show to the IMF that it has been able to reduce subsidies which are part of its commitments to remain qualified for the current program.

Who doesn't love cheaper gasoline?

I am more interested in a more balanced current account situation... lets see how the numbers turn out.

 

[VCheng]

I am more interested in a more balanced current account situation... lets see how the numbers turn out.

The present fall will help the balance of payments too, for a while.

 

[dil_dil]

Good news for Pakistan.

 

[dil_dil]

Pakistan will save $7 billion this year. Looks like Nawaz and co are about to get filthy rich.

Source for $7 billion?

 

[alaungphaya]

Allah bless those selfish, short sighted, camel loving Saudis!

 

[OrionHunter]

We need to grab this opportunity with both hands. The prices are expected to stay low for a couple of years. We need to use the cushion to kick start our economy and complete the move to coal and hydel based power within this time.

Right! This is the time to stock up on oil reserves! The immediate need is to increase oil storage capacities to the max so that oil will be available at these low prices for the next 20 years!

 

[anonymus]

This one got Russia written all over it.

OR

Shale Oil.

 

[Meengla]

No wonder even a Premium cruise line like Holland America is selling at 70%+ discounts:

Newsletter Deals

Go guys: Enjoy the Holiday Season by taking a great cruise!

Energy starved countries: Make hay while the sun shines!

PS. I wonder if the energy price drops are the reason for a pound of potato being only Rs. 12 in Pakistan? That becomes around 12 cents/pound!