Slugcatcher watches oil head towards an all-time high in Australia

OIL is up, and rising, and so is the US dollar, which Slugcatcher reckons is especially good news for oil and gas producers outside the US thanks to the commodity-price increase being magnified by the currency effect.

Slugcatcher watches oil head towards an all-time high in Australia Slugcatcher watches oil head towards an all-time high in Australia Slugcatcher watches oil head towards an all-time high in Australia Slugcatcher watches oil head towards an all-time high in Australia Slugcatcher watches oil head towards an all-time high in Australia

Expect more intervention as costs go up for everything and an election looms 

But, what's good for the oil industry is ringing alarm bells for governments because of the impact oil and gas have on costs at every level of the manufacturing process and household power bills.
 
Price controls on oil and gas are the default position for many governments when voters get upset about the cost of transport and home heating (or air-conditioning) and it should not be a surprise if the oil industry soon becomes a target of protests for what appear to be record-high prices in some countries.
 
The impact of the double-whammy price boost can be seen around the world though Australia is a good starting point with the current price for Brent-quality crude at US$84 a barrel blowing out to a local price of A$119/bbl a...