Oil nears $110 a barrel after gas field strike
bbc.com
bbc.com
If you or your firm handles trucking or mining or tractors or something like buses, stock up on additives where the vast majority of production (like brake fluid, AdBlue (DEF) and gear oil) is Asian now before they get even more expensive. To give a sense of perspective, I've seen prices for transmission fluid and antifreeze almost double month-on-month in England where I am.
Iranians have said they would retaliate against oil fields and refineries in Israel and the Gulf. But since the majority of US air defenses have been diverted in defense of Israel it looks like the gulf arab states will bear the brunt of the retaliation. It looks like they have already successfully struck targets in Saudi Arabia[1] and Qatar[2].
This is the moral hazard in action as a result of unconditional support for the rogue-state that is Israel . Israel continues to escalate since they face little of the consequences - being under the US security umbrella. It is the rest of the world that pays the price instead (apart from Russia). In a sane world we would be changing this equation such as by pulling air defense, air support, lethal aid, air tankers support, EWACs, intelligence and satellite sharing, defense away from Israel. But the Trump administration and indeed the collective west seems to be under the chokehold of the Israel lobby.
[1] - https://x.com/MenchOsint/status/2034348372346245584 (alt : https://xcancel.com/MenchOsint/status/2034348372346245584 )
[2] - https://x.com/MenchOsint/status/2034340405060194649 (alt : https://xcancel.com/MenchOsint/status/2034340405060194649)
And it’s not even that I disagree with you, but feels like some propaganda campaign.
this is going to destroy world economy on every angle
fuel and now food
it's like the Israeli's figured out the answer to their problem was to make it everyone's problem
how about we stop giving them offensive weapons, defensive only or we'll be going through this every decade
Not that Israel is perfect, but there is plenty of blame to go around and recognizing that reality is required before we can even try to think of a solution. (I don't have one)
It is up to you to decide where justice lies.
Iran has been funding a lot of the "attack Israel" groups in the area. When your income depends on hating Israel it is hard to see a more moderate view. In turn this gives the extremists in Israel a better line of why elect them over someone more moderate. (Lets me clear I'm not trying to clear Israel of their crimes here, only suggesting that Iran bares some blame for those crimes).
The above, but applied to other countries and not as extreem. Iran is funding many anti-democracy groups in the region.
Iran has a lot of smart, well educated people - who can't get enough water to drink. If Iran had a better government those people could develop things of use to improve the world, but instead many are stuck as poor despite having the ability to not be.
Changing Iran would not solve all the problems, but it would ease a large share and maybe leave room for a better world. The only question is how to do this - world history doesn't have a good record for changing evil governments.
Let's not downplay it as "strategic partnerships" and "armed resistance". It is terrorism. Both sides perpetrate it.
High ranking people in Trump's own administration (or at least until very recently) have openly stated Israel was the main reason why we got involved.
Sure seems to me in terms of our current situation, Israel really wanting to get involved in a strike is the but-for cause. At least according to what the Trump administration has stated.
Oil prices were around $100 for a lot of the early 2010s. It's been three weeks. Calm down.
Iran's South Pars Gas Field Is Attacked by Israel, Sending Energy Prices Soaring
Whose?
This is one of the most batshit insane things I've ever read. What on Earth would make you think this?
The A/B tests include low-effect control memes: as null-tests or for exposing information flow.
So you should get more unconfirmed theories in your social media.
BTW: which Oracle do you use to confirm your conspiracies?
I think real irony is that Iran keeps shipping oil to China and India. At which point US will start nabbing these tankers?
India is right next to Iran, it would be really hard to cut off trade between them. Pakistan definitely doesn't want to get involved (being an ally of the US AND China).
False flag operation makes some sense too.
Of course the open question is how long will this last? If this situation ends this week (seems unlikely but...) people will go back to what they did before and forget about this until the next oil crisis - just like every other one. However if this drags on a few years expect major changes in energy mix as people find other answers. Either way, wind/solar are cheap and so utilities around the world are looking to get some installed because it is generally a great investment.
Five years.
The Saudis have been trying very desperately to keep the price of oil below the threshold where that occurs.
Bomb the oil infra in a stupid war that a senile old 80 year baby wanted.
It is a great plan. The Gulf Monarchies are weakened (that is what you get for your Trump bribes ...), the EU is weakened, and the US controls all energy flows.
China can use the land route to Russia. The EU is going to commit economic suicide instead.
Sorry, but this will never not be not amusing. Where Trump being a stopped clock warns the UN about relying on foreign energy and the German delegation laughs as they were shutting down their nuclear and increasing reliance on Russia for energy.
Trump is completely inconsistent anyway. First he blamed the EU for wanting to continue the Ukraine war. Then he periodically floats lifting Russia sanctions. But if the EU were to lift Russia sanctions, that of course would lead to severe repercussions.
Trump is about economic suppression of the EU.
If you say "nuclear energy". The US has imported Russian uranium to at least 2025.
There is no case of they just needed to pay attention earlier. The problem is known. There is just no good solution. Drastically scaling back energy consumption isn't going to happen any time soon and would harm the economy. So we can choose between Russia, the Middle East and the USA. Best would be of course to reduce fossil use, but that is orthogonal.
Refraining from shutting down their nuclear plants for no good reason would have been a start.
Can they?
> build new ones
That'll take 20 years.
Are you willing to share where you heard that?
Deals done in Yuan will still get through Hormuz. EU could switch currencies for fossil fuels, get their energy, and further lessen their dependence on a US that expresses nothing but hate and disgust for the EU.
He did say he wanted regime change after all
If Trump's popularity falls to Nixon levels, and the MAGA coalition continues to fracture at the current rate it's falling apart, within a year or tow, there could very well be 60 votes in the senate that go against Trump.
Let's be real here. Nothing this administration ever does is planned.
In Syria it might have taken years, but considering the reaction of the US, Israel and Russia to the sudden Syria push, I guarantee the admin in power wasn't informed. What is more likely is that they lost actionable assets during COVID. At best the CIA was aware but didn't inform Mossad not the US, but that would be giving them a lot of credit.
You are joking, right? Project 2025 has achieved 50% of its goals in record time[0]. Trump disavowed both it and invading Iran, but make no mistake. Both were “the plan”.
After the dust settles:
- GCC is knocked down a few notches and that oil and gas money is no longer competing for influence
- US is out of MENA and Centcom will return to Florida; there is no way Arab governments will let US rebuild its bases in their countries. See burning infrastructure, airports, and decimated trade in tourism, air travel, hitech, ... You thought the Orange One thought up the idea of burning all our aliances, pissing off Europe, alarming Asia allies, and making "fortress America" all by his lonesome? Really?
- Israel will be lording it over the area. Maybe they will start having bases on Arab lands.
- China will be at the mercy of whoever now controls Middle East
- Project 2025 is really about controlling us natives here in America when the coin finally (dear lord) drops over here.
But one thing, higher oil prices may get the US to really get working to avoid Climate Change. Yes, some progress has been made, but real CO2 emissions is increasing. The only time it decreased a bit was during the Covid Shutdown.
But one plus may occur, higher price of oil.
Yes, higher prices will cause suffering with the poor and middle classes, but that suffering pales in comparison to what +1.5C will cause. We are already on track for more then 2C. Suffering from that will be far worse than $150 USD price per barrel. Better to take a small hit now and hope it can keep us below 1.5C then trying to live with 2C.
Yes, I posted this knowing it will be down-voted, but cheap oil only makes +3C guaranteed to happen. Who cares about the young anyway /s
That is how people think about high oil prices.
If oil was to go to zero people would stop pumping it and burning it (for that to happen the alternatives have to be cheaper/better). That is what will fix climate change in the US.
As for the bigger picture — yes, higher prices for oil might spur extraction in regions outside of the middle east, but that's a local only viewpoint. Globally, higher oil prices reduce consumption and make green alternatives more attractive on net.
When oil is high, GDP takes a hit. Less is happening.
1. We stop using oil because we have better, cheaper alternatives, as you already said. Alternatives are cheaper if they become cheaper, but also if oil becomes more expensive. Higher oil prices may stimulate some oil exploration in the short term in the places that have oil. Everywhere else it's going to cause a scramble to renewable alternatives.
2. We stop using oil because we have technologically regressed to the Middle Ages
I prefer option 1.