Humble Pie

Whoops!

John Newman

• JohnNewman
• economics

Last winter I wrote a story about a new range of 125cc and 250cc bikes being manufactured in China and imported by Earnshaws my local dealer in Huddersfield, West Yorkshire: they are badged as 'Honley'.

In the article, commenting on the positive fuel consumption figures of small capacity bikes, I made a certain prediction: “At a time when fuel costs are not likely to see a quid a litre again...”
Whoops. I was passing a supermarket filling station this week and unleaded was down to £103.99.
I'm in good company though - the collective 'expertise' of economists, commentators, political analysts etc never saw this coming either. The overpaid bankers at Goldman Sachs were even warning of $200 per barrel prices last summer, before the usual market anarchy and geo-political forces pushed the whole oil game in another direction. Oh well - at least it's cheaper to fill up now!