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[The Don]

hmmm possible machan ,

but then again most of the Dr's and the like were running Diesel Galants , Pugs , Freelanders etc - pleanty of those around...

Perhaps they are shedding their current Diesels for newer Diesels being sold off by permit holders.

But I do agree with Rippers line of thought. Perhaps people cannot afford to keep cars anymore however frugal they might be.

Other thing you notice is people selling vehicles with part completed leases !!!. I noticed that when you add up the installments the cost of the vehicle is significantly higher than the present market price, so these leases must have been given out at very high interest rates !!! obviously not sustainable in times with a down turn in the economy.

Edited June 11, 2008 by The Don

[Devinda_Z]

Perhaps they are shedding their current Diesels for newer Diesels being sold off by permit holders.

But I do agree with Rippers line of thought. Perhaps people cannot afford to keep cars anymore however frugal they might be.

Other thing you notice is people selling vehicles with part completed leases !!!. I noticed that when you add up the installments the cost of the vehicle is significantly higher than the present market price, so these leases must have been given out at very high interest rates !!! obviously not sustainable in times with a down turn in the economy.

sharp piece of work Don - that angle didn't hit me till you just pointed it out..

...all this dependancy on Credit is gonna cost ppl in the long run...

[GTAm]

Met two guys yesterday who were struggling to sell their cars. One's a 04 Civic and the other 01 Corolla

Things are so bad. But they are likely to get worse in the near term unless something radical is done........or happens. Crime is going to increase for sure, so watch out!

[The Don]

Met two guys yesterday who were struggling to sell their cars. One's a 04 Civic and the other 01 Corolla

Things are so bad. But they are likely to get worse in the near term unless something radical is done........or happens. Crime is going to increase for sure, so watch out!

China currently has 8% inflation !!! and people there are apparently starting to struggle .... I think our economic problems have coincided with a global economic crisis ....

Worse may yet be to come, cos with the Americans sending warnings to Iranians another conflict in the Gulf would just send gas and oil prices up even higher !!

I wonder for how long we all will be held to ransom by OPEC !!

[Devinda_Z]

China currently has 8% inflation !!! and people there are apparently starting to struggle .... I think our economic problems have coincided with a global economic crisis ....

Worse may yet be to come, cos with the Americans sending warnings to Iranians another conflict in the Gulf would just send gas and oil prices up even higher !!

I wonder for how long we all will be held to ransom by OPEC !!

any idea how the work is coming along on the Mannar basin drilling?

[Devinda_Z]

Lanka Business Report aired on ETV this evening had a report regarding the oil prospecting off the West Coast of Sri Lanka.

according to the Director General of the Petroleum Resource Development Secretariat (PRDS) Dr. Niel De Silva, if all goes according to plan and with a lot of good fortune , Sri Lanka could have oil in after around 6 years of the commencement of activity by Cairn India Limited, a unit of Cairn Energy plc of the UK once the license for the off shore exploration is finalized.

But it should be noted that the time span is a minimum figure theoretically calculated - so the real period might far exceed that in practicality once exploration commences...

http://www.island.lk/2008/05/30/business2.html

[Pericles]

Lanka Business Report aired on ETV this evening had a report regarding the oil prospecting off the West Coast of Sri Lanka.

according to the Director General of the Petroleum Resource Development Secretariat (PRDS) Dr. Niel De Silva, if all goes according to plan and with a lot of good fortune , Sri Lanka could have oil in after around 6 years of the commencement of activity by Cairn India Limited, a unit of Cairn Energy plc of the UK once the license for the off shore exploration is finalized.

But it should be noted that the time span is a minimum figure theoretically calculated - so the real period might far exceed that in practicality once exploration commences...

I think he specifically mentioned the word "lucky".

Besides, do you honestly think they will risk such a big investment in a war zone? They'll need to deploy half the navy around any drilling platform they make. The LTTE can't afford that kinda positive cash flow into the govt coffers.

[seeker]

I think he specifically mentioned the word "lucky".

Besides, do you honestly think they will risk such a big investment in a war zone? They'll need to deploy half the navy around any drilling platform they make. The LTTE can't afford that kinda positive cash flow into the govt coffers.

Well... if there's oil around, there might be quite a few countries who'll be interested in 'offering' their marines, don't you think....

[Devinda_Z]

Well... if there's oil around, there might be quite a few countries who'll be interested in 'offering' their marines, don't you think....

yes! had this crisis hit before the call for bids closed , then we might have seen the likes of ExxonMobil, BP ,Royal Dutch Shell ,Total S.A. ,Chevron & ConocoPhillips getting into the fray!

...so if Cairn India does strike oil in block 1 , they might well come swooping down to bid on the remaining two blokcs which remain unlicensed

[Devinda_Z]

I think he specifically mentioned the word "lucky".

Besides, do you honestly think they will risk such a big investment in a war zone? They'll need to deploy half the navy around any drilling platform they make. The LTTE can't afford that kinda positive cash flow into the govt coffers.

now that angle i completely forgot - they'll have to come around and spoil the party ne

[Ripper]

now that angle i completely forgot - they'll have to come around and spoil the party ne

well if you look at present military activities...they seem to be trying to cut off ltte's coastal areas of ops quite a bit... lotsa SLAF and SLA activity in those areas...

It won't be easy cos those guys really need that coastal stretch for their smuggling activities etc but we seem to be doing quite well imo...

And like somebody said...if a superpower invest so much of $$$ in such projects there's every chance they'll make an "extra effort" to keep things out of harms way

But the real issue would be that; will these resources truly help the country to develop or will it end up making a handful of multi-billionaires

the way things are and have been...i'd say it's the second option

[Pericles]

well if you look at present military activities...they seem to be trying to cut off ltte's coastal areas of ops quite a bit... lotsa SLAF and SLA activity in those areas...

It won't be easy cos those guys really need that coastal stretch for their smuggling activities etc but we seem to be doing quite well imo...

And like somebody said...if a superpower invest so much of $$$ in such projects there's every chance they'll make an "extra effort" to keep things out of harms way

But the real issue would be that; will these resources truly help the country to develop or will it end up making a handful of multi-billionaires

the way things are and have been...i'd say it's the second option

There is every chance around 10% will eventually find its way into development.

[Ripper]

There is every chance around 10% will eventually find its way into development.

heh heh! what a sad state of affairs... This oil thingy might be our only ticket out of the mess we're in... at least on finances... Or is it just wishful thinking

[GTAm]

heh heh! what a sad state of affairs... This oil thingy might be our only ticket out of the mess we're in... at least on finances... Or is it just wishful thinking

We could end up another Brunei . Imagine the car collection of the Sultan of SL!!!!!!

[Watchman]

We could end up another Brunei . Imagine the car collection of the Sultan of SL!!!!!!

well, our Sultan's son has started his collection with the inaugural DB9

[Watchman]

We could end up another Brunei . Imagine the car collection of the Sultan of SL!!!!!!

well we didnt have to strike oil, but our Sultan's son has started his collection with the inaugural DB9

[Gummybr]

Fuel and Vehicles, see what the Government is planning to do.

Do you guys think that this will put an end to the high performamce cars coming in and luxury vehicles??

My point of view is that this is not the way to go. High capacity vehicles bring more taxes to the government and it is a myth that high capacity engine capacity vehicles are bad on fuel....

[Sha7]

Guys, Today I notice that there’s a Petrol shortage around Colombo. Any idea of why?

I will need a tow truck in the evening if this continuous…

[Pericles]

Fuel and Vehicles, see what the Government is planning to do.

Do you guys think that this will put an end to the high performamce cars coming in and luxury vehicles??

My point of view is that this is not the way to go. High capacity vehicles bring more taxes to the government and it is a myth that high capacity engine capacity vehicles are bad on fuel....

The policy formulated by the Government will recommend the categories of the vehicles which can be imported in the future. Therefore, people will not be allowed to import any kind of vehicle according to their own wishes, he said.

Wow, we are transitioning back to the worst eras of human history. Its like living under the Nazis. Next step, what to eat, drink, dress and think.

Besides, this damn set of fools aren't qualified to decide what vehicles can be imported.

[Gummybr]

Wow, we are transitioning back to the worst eras of human history. Its like living under the Nazis. Next step, what to eat, drink, dress and think.

Besides, this damn set of fools aren't qualified to decide what vehicles can be imported.

The fools are the worst culprits in fuel consumption, its estimated that 40% of total consumption is used by them and not the general public. Reduce the benefits given to them and automatically the consumption figures go down.

[Watchman]

The fools are the worst culprits in fuel consumption, its estimated that 40% of total consumption is used by them and not the general public. Reduce the benefits given to them and automatically the consumption figures go down.

40% for probably the entire government and its ministries/departments/corporations.. though i too have noted that some government drivers have little sense to save some fuel.. i've seen numerous ministry vehicles parked while the whoe ever big-person goes to do whatever his work ands the driver just running the engine and sitting/napping in the airconditioning.. heaven forbid them to turn down the engines and roll down a freaking window!

[ash]

Last couple of weeks in every newspaper (govt.) first page carried out news on increasing of fuel prices in other countries.

From today midnight onwards IOC is reducing diesel prices by 10 rupees. Why do I get a strange feeling on this? Are they trying to comfort us a bit before a sharp increase????

Guys ready for the worst…

[Ripper]

Last couple of weeks in every newspaper (govt.) first page carried out news on increasing of fuel prices in other countries.

From today midnight onwards IOC is reducing diesel prices by 10 rupees. Why do I get a strange feeling on this? Are they trying to comfort us a bit before a sharp increase????

Guys ready for the worst…

well there are rumors flying around that petrol might hit up to 200... maybe there just rumors

[Devinda_Z]

well there are rumors flying around that petrol might hit up to 200... maybe there just rumors

thats been flying abt for a while now...

but if it did ,think of the upside - a nice round figure like that would make it nice and easy to calculate things

[GTAm]

From today midnight onwards IOC is reducing diesel prices by 10 rupees. Why do I get a strange feeling on this? Are they trying to comfort us a bit before a sharp increase????

Could be to soften up the public for the provicial council electections that are to be held soon. They'll talk about this as if they really cared for the people and despite the war made a huge sacrifice and forced IOC to take a loss to ease the burden of the people....

Anyway oil prices seem to have stagnated at last. And some say it could drop as well...