The good and bad news about Oil falling from $130 a barrel in 2014 to $30 region

The good news is that we the consumers are getting a great deal on petrol prices for commuting, the cost of heating oil and the capacity of businesses to run with cheaper energy and transportation costs.
Filling up in a garage is barely a pound. Heating oil is a fraction of its cost in 2011-14. Business operating costs are lower.
The bad news is that this is severely impacting on financial viability of the North Sea businesses, upon which so much of the North East businesses depends. This is undoubtedly affecting businesses and jobs as the extraction of oil becomes uneconomic and the businesses that support the sector struggle through viability and lack of investment.

The causation of the price reduction is multiple but has three real triggers:
- shale gas in America has resulted in the production of much cheaper energy for businesses both in the USA and around the world; this has underpinned so much of the USA economic recovery. This cheap energy revolution has had impacts.
- a price war has resulted between the oil producers and the shale gas industry which sees the oil producers continue to flood the market notwithstanding an oil glut.
- the impact of foreign policy changes that sees countries like Iran now able to provide oil to overseas customers post the lifting of sanctions and the Geneva Agreement.
I do not see the price rising in a hurry albeit this price war cannot last forever. The argument in favour of energy security for a country is definitely made clear. Otherwise we are subject to overseas markets, dodgy dictators, problems of supply, and declining reserves in the North Sea. This is one of the reasons I support energy production in the UK. We need to have control of our energy supplies. Those who suggest otherwise have to tell us where we would get this energy from at a reasonable cost when this price war ends - as it surely will.

My conference diary in Manchester - events with Women2Win, Newcastle University, CSJ, and multiple meetings

The diary is packed for the next 3 days in Manchester but you will find me at various events:
- Sunday I will be at the Women2Win reception for all the female MPs, candidates and future leaders who W2W have guided in the past and will do more to assist in the future. I am passionately behind this project, as a trainer and mentor, which saw amazing women enter parliament at the last election: the event is at the Stanley Rooms in the Midland at 7.30-9
- for more details read here:  http://guyopperman.blogspot.co.uk/2014/07/working-with-women-2-win-is-one-of-best.html
- I am also chairing a Newcastle University discussion event between 5.45-6.45, when I will be listening to a number of academics, think tanks and specialists from Newcastle University and beyond debate energy security, climate change and more. It promises to be an entertaining hour, although as the chair I am impartial, and simply keen to get our experts being grilled by the public so come along. Later that evening I will be at the northern conservatives reception.

- Monday I will be up early for the Women2Win morning event at 8 in the Conservative Home Marquee. I then have 7 meetings that day with organisations as diverse as Newcastle Airport, Shelter, and Northumbrian Water. I will be at the Destination Full Employment debate at the Jurys Inn in the evening at 6, which promises to be a fascinating debate.
- Tuesday I am again going early to the breakfast event hosted by the Centre for Social Justice on reforms to reduce reoffending. Anyone who has read my book Doing Time knows that this is an issue I am passionate about: http://guyopperman.blogspot.co.uk/2012/11/my-first-book-doing-time.html
I will then be going to the Membership of a political party in the 21st Century discussion hosted by Policy Exchange with Rob Halfon MP, who is both a mate and an able deputy party leader. I am then going to a Forestry lunch, before a series of meetings and events about the Northern Powerhouse, and dinner with local members who are attending conference.

Energy Debate in the Commons this afternoon - trying to get in to speak

Around 4.15 there will be an energy debate. There is much to discuss. Clearly the biggest concern for residents in Northumberland is the increase in the oil price due to Middle Eastern instability - this will mean more costly fuel, gas and heating oil for locals.
Fuiller details of the worsening situation in Iraq is here: http://www.bbc.co.uk/news/world-middle-east-27897648