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Comment by Tharre | Hacker News Reader

And demand will probably go up a lot further still. Right now fuel prices are kept artificially low by every country releasing their strategic reserves, but these will run out at some point.

Europe is heading into the worst energy crisis since at least the 1970s, possibly worse. And yet very little is happening to prepare for it. Definitely some fun times ahead.

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I think perhaps the huge surge in EV demand has something to do with preparing for the energy crisis

Every country? Or just the US? Fuel is through the roof in most countries, Japan had to dedollarize (call in its USA loans) to buy oil and several Asian countries had to switch to 4-day workweeks to avoid riots and coups.

Where are the climate change fanatics when you need them? Work from home Covid style would decrease oil consumption and oil prices.

You still think climate change is a hoax? Maybe that’s why you didn’t hear all the pushback and criticism for totally unnecessary and unwanted Iran war!!

People who accept the reality of climate change have been calling for that since the return to office push started. Unfortunately, they don’t have a multi-billion dollar marketing budget like the fossil fuel industry or the political parties it’s co-opted so much of the public discourse ignored them.

The US is on pace to run out of its strategic reserve in ~2 weeks.

Four weeks ago, California received the last of the shipments coming from the Strait. Everyone said CA only has on hand six weeks of supply. There was a bunch of panic baiting posts at the time. I haven't seen any suggesting that the supply is coming to an end, but maybe I've missed stories of resupplies coming in to the west coast??

California itself produces a substantial amount of oil.

A mile off Interstate-5 in the southern Central Valley, and you can’t tell you’re not in Texas oil country. Santa Barbara regularly has oil leaks from the offshore production in the Channel Islands area, and Beverly Hills High School famously has a productive oil well on campus.

So the state isn’t going to literally run out of oil (though lack of imports could lead to shortages).

Gas prices nationwide have been dropping for a month, despite no peace treaty being signed. I don't understand it.

> despite no peace treaty being signed. I don't understand it.

How many he has said “we have already won the war” and “we are very close to signing the deal”?

SPR is fueling that decrease in price. But it won't last till midterm. Expect Iranians (and Chinese+Russians) to drag this till Nov.

Higher order effects are impossible to predict.

Isn't the US self-sufficient in both oil and natural gas? Most impacted is East/South Asia, second most is Europe, then US is the least impacted by far, although the US will experience inflation on imported goods.

There are no export restrictions, US oil consumers compete with the world to purchase US oil.

https://www.cnn.com/2026/06/12/business/cushing-oil-inventor...

The US produces a lot of light crude from fracking, however the refineries were built to process heavy crude. Therefore the US still needs to import heavy crude to meet demand.

I don't think that's true, but if it is then Iran would be foolish to make a deal right now.

Iran has no choice but to make a deal, if they don't want their country turned into a parking lot. With complete air superiority, taking their power plants and a few bridges would lead to complete economic collapse as seen in Cuba.

There is no evidence that the USA can or will turn Iran into a parking lot. Which countries, besides the USA, has the USA turned into parking lots so far?

There is plenty of evidence the strait will remain closed and the USA will continue dying until the USA surrenders. Notwithstanding that nice toddler-level reversal, "you can't close the strait, I'm closing the strait!"

The US is dying at the slowest rate of nearly every country outside of Africa.

Irrelevant. The war is between the USA/Israel and Iran, every other country is collateral damage until they decide to join the side of Iran to reduce their collateral damage - which they have been reluctant to, so far, except for China (which is winning as always).

You should read up Chinese satellite images of surrounding Gulf countries. Iran GDP now is growing. Their revenue spike up. The back end of Iran is fully operational with Russia and China shipping in goods on steroid. F35 and B2 no longer flies in Iran.

Let's try to not glorify terrorism too much and still pretend the west do not target civilians and civilian infrastructure please. Remember, the pesky Arabs are the one who target civilians, that's why they are terrorists. We only occasionally target civilians, and when it happens, it's because they are evil and support an evil man, so we aren't.

It's good to be angry about hypocrisy. Since both sides target civilians, the only winner will be whoever is more powerful.

There will be no winner, only a side who loose less. I am not really angry at the hypocrisy, i am angry that people act like cheerleaders for war crime and terrorist attacks. The hypocrisy is a given, and tbh, it's okay. I just want people to understand what they are cheering for, and in this case, it is terrorism.

If you support this kind of strike, you support the same kind of strike as 9/11. And it's okay, you do you, i just want you to realize that.

Obligatory "Are we the baddies?"

https://www.youtube.com/watch?v=ToKcmnrE5oY for those who don't know this meme (the Dawkins definition of meme)

Just in time for the big 4th of July celebrations. Happy Semiquincentennial!

https://www.msn.com/en-us/money/markets/america-may-see-actu...

What should be happening to prepare for it?

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