Falling Oil Prices

Falling oil prices are good news for oil refiners and companies using hydrocarbon based raw materials.

Falling crude oil prices help contain the import bill of countries like India. And a godsend when we are struggling with lower export earnings.

But there is the danger of salary cuts,layoffs and related problems in producer countries that might ultimately hit certain exports to these countries.

So which countries are likely to be the danger areas ?Take a look at the cost of production figures in various countries and check them against prevailing oil prices.

oil costs

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The Story Of Raphael Tudela

wealthymattersIf you have ever wondered how to start-up when you have no money,here is an idea from a story in ‘What they don’t teach you at Harvard Business School’ by Mark H. McCormack:

Several years ago I met a Venezuelan oil and shipping businessman by the name Raphael Tudela. As I have come to know, respect, and admire him, he has impressed me as the quintessential street-smart executive. He has built a billion-dollar business from scratch in less than twenty years. He seldom deals in written contracts because his word is his bond. He has always made his own breaks. And his principal business, which is oil speculation, relies on his constant process of seeing opportunities where no one else does and taking advantage of them.

In other words, Raphael Tudela is a genius at taking the edge. One of the best illustrations of this –of how he has the facts, knows what people want, and figures out a way to give it to them- is the story of how he got in the oil business in the fist place. Read more of this post

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