You know what? Fucking do it.
Inflation will really fucking suck for a while, but anything that makes renewables and nuclear the better option is going to be a good thing in the long term. Strangle the oil industry with high prices, we fucking need it.
This won’t just affect oil by the way, fertilisers are a direct product of natural gas, bunkering, electricity, transport, the list goes on.
The ripple effect might just pop the AI bubble. Good luck.
Ferts can be made without natural gas, just bit more bothersome. Instead of cracking methane for hydrogen, we’ll have to split water.
Im sure it will be great comfort to the billions who starve in a global famine while we spend decades building out the infrastructure for that.
That’s probably overselling the importance of fertilizer a little. A huge proportion of the food we grow is completely wasted, rots without anyone eating it, or doesn’t “look nice” so gets fed to animals who could just as easily eat other food sources. Another gigantic portion of the is grown inefficiently and stupidly for political and cultural and other asinine reasons, grown in inefficient places, or are inefficient crops to begin with. Sometimes it’s all of the above, and sometimes it’s not even grown for food at all, it’s grown for oil. We burn it, because that’s environmentally friendly, somehow. Famine is not a global agricultural problem, it’s an economic problem, sometimes an intellectual property problem and almost always a political problem, it has nothing to do with lack of fertilizer, it never has been, and it almost certainly never will be. The whole system is rigged top to bottom, and fertilizer isn’t going to make or break it.
Where do you think that proportion wasted is wasted? What happens when energy costs spike and plastics become more expensive? When logistics, transport and storage costs go up, waste doesn’t vashish, it grows exponentionally.
We’re already building it out because morons think hydrogen is the future of energy.
Bubbles pop. Letting them grow more before they pop doesn’t help.
It kinda does when you have a zit. Bigger ones are much easier to pop.
But it’s messier.
Here’s the problem with that idea…yes, global prices could go way up, BUT
- US has lots of oil, so won’t have shortages, just make a few obscene billionaire more obscenely wealthy. We’re deluded enough that renewables and EVs still won’t be an option
- Russia needs to sell oil to stay in the war, and they’ll be able to get more profit
- this mainly hurts everyone else
Most of US refineries can’t refine our domestic oil. Everything they run is imported.
haha, reminds me that in 2007 I was delivering flowers when gas prices spiked and I made the mistake of opining that it wasn’t all bad - for basically that reason. The owner did NOT appreciate my comments. lol.
Nothing came of it or anything, it was just a little awkward for a bit. And I did express sympathy for her costs. But she could have optimized deliveries SO much better - I tried to help - but she just didn’t care. Even though… it cost her much more gas. heh
She was a good person, just a little blind about some things. :)
Demand destruction will start happening well before it reaches $200/bbl.
Prices of $120-140 begin demand destruction and economic recessions (as 2022 showed), with destruction accelerating past $160. Transportation costs doubling will put almost immediate halts on capex planning for most organizations. I would be surprised if sustained prices beyond $160/bbl could exist for more than a couple weeks before the global economy tail spins so fucking hard it immediately stops consuming the oil supply lost from the strait of Hormuz.
There’s also renewables. Solar is already cost competitive and there’s no way EVs aren’t flying off the shelves right now
Too late. Manufacturing and installing renewables or EV’s or literally anything requires diesel.
The entire industrial supply chain is still built on diesel with decades to go before the current glacial pace of electrification makes a significant dent. A massive energy crunch is just going to make renewable buildouts even more materially constrained and astronomically more expensive, there is no way out without economic collapse. The current economic system is not designed around anything other than fossil fuels and will refuse to complete a changeover until no other options exist, which will usually mean billions of homeless starving people getting fucked over.
At this point either Trump commits to a land invasion and we have 20 years and trillions of dollars and tens if not hundreds of thousands of American lives wasted, not even counting how many millions of Iranian lives would be wasted as well. Or Trump backs down and asks China to act as a mediator because there’s no way Iran would trust Trump to negotiate.
Or Trump declares victory (didn’t he already do that?) and goes home. In a bit of circular reasoning, maybe he starts making waves about the Epstein files to distract people from Iran
Iran should request to have a hand in selecting the next US leader. In fairness, they couldn’t do much worse than the US electorate…
Well of course our babies have been drilling nonstop since Trump arrived so surely production’s gone up 115% to offset the loss of 15 million barrels per day!
Honestly fuck yeah
Figures, the one year i plan to drive hours away to attend an expo, gas is going to be triple the cost. I hate republicans so freaking much. They have ruined so many parts of my american dream.
This is fun because when does the war end? When the US says so?
When our country holds Trump accountable for his illegal acts.
Why not just go atom bomb and do $500?
EDIT: I’m saying atom bomb as a metaphor for raising prices
A year from now, after we’ve been paying $5 a gallon for gas, we’ll find out the oil companies had the biggest record profit year in their history. Then they’ll announce layoffs.
Here in the Netherlands it is 2.08€/L (9.10 U.S. dollars / US gallon) at its cheapest and 2.48€/L (10.84 U.S. dollars / US gallon) at its most expensive. While a lot of that is taxes, we are well past that mark.
Fyi Canadians pay well over 5$ a gallon. I’m sure others pay significantly more as well.
Just explaining so you know that many people won’t understand your comment
I live in Los Angeles, and the price of gas for premium is like 5.60 or higher. It’s ‘high’ for us but not insane.
Cute, in Austria it’s at 7€ now, Germany is higher. But we don’t drive gas guzzling tanks.
Hitting 8€ in Germany now, which apparently is 9.23 USD. But I lived without a car for a long time now and will get an electric car soon, so I will “only” feel the indirect consequences 😂
This is TERRIBLE! We paid Trump MILLIONS of Dollars and FUNDED a War with Venezuela! HOW could he Do this to US!
-Oil CEOS!
So this makes me think. Did they attack Venezuela first to get access to the oil there and prevent a price spike from happening when they attacked Iran? Or am I giving the current regime too much credit?
They did it to cut off China who was getting oil from Venezuela.
So how is a local rebellion supposed to work when a fat orange won’t take his short, weird fingers off the ‘fire missiles at everything’ button?
the black smoke was supposed to be cover so they can organize… right?
Ah yes, the smog of war
