Iran War Is Draining World’s Oil Buffer at an Unprecedented Pace
https://financialpost.com/pmn/business-pmn/iran-war-is-draining-worlds-oil-buffer-at-an-unprecedented-pace
Iran War Is Draining World’s Oil Buffer at an Unprecedented Pace
https://financialpost.com/pmn/business-pmn/iran-war-is-draining-worlds-oil-buffer-at-an-unprecedented-pace
16 Comments
While this is bad for many people who would view the glass as half empty, the half full view is that this could be a rough approximation of cutting Fossil CO2 emissions. Can we find solutions to move away from the energy sources that are blocked and how much more would it cost?
At least now it can be debated what we should use fossil fuels for and what we need to change in the future.
Trump, the unwitting savior of the climate .
The charts for refined products (Gasoline,Diesel,Jet fuel) are even worse.
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“The most immediate points of stress are in a handful of fuel-import-reliant countries in Asia, with traders pointing to Indonesia, Vietnam, Pakistan and the Philippines as the biggest worries, potentially hitting critical levels of supplies in as little as a month. Larger economies in the region, particularly China remain comfortable for now.”
Insider trading.
Like a roller coaster climbing its way to the first drop.
And yet our stockpiles are %1 over this same period last year according to last weeks EIA report
>”Global oil consumption has already dropped sharply, in part because of supply disruptions, and in part because of higher prices.”
Well that’s good news at least
That picture is a bit misleading. The article notes demand is already starting to drop. Things will get bad but not that bad.
I know I’m dead. Why aren’t I falling?
The US economy relies on a just in time distribution system tied to crude oil. Any shortage risks completely disrupting our way of life. It may not be visible now because of inertia, but it will be brutal. Get use to a lower standard of living.
This is why we used Iraq as proxy in the 80’s and the Bush administration didn’t invade them in 00’s. Iran having the ability to choke the global energy supply was a well known risk of war with them.
Just take my upvote .. since it seems like it’s the only one that will count
Thanks America
Starting to see predictions of a 1970s style oil crisis in the US in the coming months. People sometimes talk about wanting to go back to their childhoods but this is a part of mine I’d rather skip if at all possible.