The real value of oil

In an early 1990s British TV series called GBH, the main protagonist – a Machiavellian local council leader is seen at one point trying to shred large numbers of documents with a tiny paper shredder as the police close in… and famously says something like “Bloody typical… I always know the cost of everything and the value of nothing… agggahhh” – (and my apologies if that isn’t exact, or even attributed to the correct TV show.. all from memory).

The point is, we know the cost of oil, we know the price (even if we don’t know where it is heading…) but do we know the real value?

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