Crude oil. In 2007, spot prices in Daqing rose steadily, with the annual average price being 70.63 US dollars/barrel, a year-on-year increase of 11.7%; calculated based on floating exchange rates, it was 3,830 yuan/ton, a year-on-year increase of 6.27%. In the same year, the average spot price of crude oil in New York was US$71.49/barrel, which was slightly higher than domestic US$0.86/barrel. In 2006, the price difference between the two was US$2.96/barrel. The gap between domestic and international crude oil prices has become smaller and smaller. Prices are basically in line (Figure 37). Compared with 2006, the growth rate of crude oil prices in US dollar terms in 2007 only dropped by 7.8 percentage points. The actual price still rose for five consecutive years. High-level operation has become the long-term trend of crude oil prices.
Figure 37 International and domestic crude oil price trends from 2006 to 2007
2007 Land and Resources Situation Analysis Report
The main reason for the rise in domestic crude oil prices is international market prices Higher prices in the international market are mainly due to factors such as the depreciation of the U.S. dollar, market concerns caused by the Iranian nuclear issue, the large-scale entry of international investment funds into crude oil futures, and multiple production cuts due to OPEC's control over crude oil supply.
The impact of rising crude oil prices on my country's economy has directly increased the cost of my country's crude oil imports, increased the production costs of my country's oil refining companies, and increased domestic inflationary pressure.
Raw coal. The price of premium blended coal in Qinhuangdao fell slightly from its high level in the first half of the year and then rose sharply in the second half. The annual average price was 465 yuan/ton, an increase of 40 yuan/ton year-on-year, a year-on-year increase of 9.5%, and an increase of 8 percentage points. Since 2003, domestic coal prices have entered a new round of rising cycle. In 2003, the average price was 258 yuan/ton. In November 2004, it exceeded 400 yuan/ton. In 2005 and 2006, it was between 400 and 440 yuan/ton. After fluctuating over time, it jumped to a new level in 2007 (Figure 38).
In addition to the reasons for the increase in demand, in 2007 the State Administration of Work Safety repeatedly requested to speed up the closure of small coal mines, and the Ministry of Land and Resources suspended the acceptance of new applications for coal exploration rights. Shanxi, a major coal-producing province, began to Various factors such as the collection of the "Coal Sustainable Development Fund", and in October the "Mining Environment Restoration and Management Deposit" and the "Coal Mine Conversion Development Fund" jointly promoted the rise in domestic coal prices in 2007.
Figure 38 Domestic raw coal price trends from 2006 to 2007
2007 Land and Resources Situation Analysis Report
The rise in coal prices will have little impact on related domestic industries. In industries such as steel and electricity, the increased costs caused by rising coal prices can be converted through sales. However, for some low-income people, their production and life are mainly based on burning coal. As the price of coal continues to rise, the contradiction that the common people cannot afford coal because of the high price is becoming more and more prominent, which makes the common people unable to afford coal. It is full of unsafe anxiety about the future, which will affect the stability of society.