We're a few days into November, and things aren't looking very pleasant. Crude oil has almost surpassed $100 per barrel again, sending gas prices to the moon once again. Natural gas (CNG) is also noting huge increases, which will be reflected in our next electricity bills for November and December. These uncertainties and the current market volatility are extremely tiring and stressful. Due to these massive increases in oil prices, inflation rates for the upcoming months will certainly worsen.
The price of a liter of unleaded petrol now costs €2.20 here.
Topic: Crude Oil drops below $100 - page 2. (Read 1242 times)
^^^^ My question is still valid. The question is not regarding the generation of electricity. For example, if solar panels are used for running the vehicle, how do you use your car at night when the power is not available. For that purpose you need batteries and they are very expensive.
And if production of batteries don't harm the environment enough, the mining of raw materials for battery production is a very polluting process. On top of that it has triggered civil wars in countries such as Democratic Republic of the Congo.
And you are talking about new technologies in battery production. It has been almost two decades, and Tesla is still using the Nickel-Cobalt-Lithium battery for their vehicles.
Regarding the prices, at least in my country EVs cost 4-5 times more than the gasoline run vehicles.
And if production of batteries don't harm the environment enough, the mining of raw materials for battery production is a very polluting process. On top of that it has triggered civil wars in countries such as Democratic Republic of the Congo.
And you are talking about new technologies in battery production. It has been almost two decades, and Tesla is still using the Nickel-Cobalt-Lithium battery for their vehicles.
Regarding the prices, at least in my country EVs cost 4-5 times more than the gasoline run vehicles.
Solar panels are used for the COLLECTION and STORAGE of electricity in industrial volumes. And THEN it is transferred to gas stations. Solar-powered electric vehicles - you've seen enough of science fiction somewhere
There will be, but not with today's efficiency of solar panels.About "battery production is a very polluting process" - do you have any arguments, evidence and comparison with others besides another "empty" statement? I'll tell you - the most "dirty" is the extraction of lithium. Can you tell us how much lithium pollutes the environment more than, for example ... oil or coal?
If not, then you, as a cultural person, will either have to apologize for FALSE information, or write before such statements - "according to my fantasies, it seems to me" and then text like "battery production is a very polluting process" About Tesla batteries - you are INTENTIONALLY LIEING again
You say: "Tesla still uses nickel-cobalt-lithium batteries for their cars", and the reality is far from your fantasies - "Tesla produces lithium-ion batteries for their cars. It is highly efficient 18650BG battery is pure Li-ion battery!And you are also lying about car prices
I just can’t understand - do you really think that everything here is without a brain, the Internet and the ability to search for information? I will give prices in Ukraine, with not the best economic situation, NEW cars:
VW ID4 - $35.000
Dongfeng-Honda X-NV/M-NV - $27,000
Nissan Leaf - $29,425
Volkswagen ID.3 — $31,500
Opel Mokka-e — $34,278
MG ZS EV - $34,280
Hyundai Kona Electric — $36,600
This is the price of the middle class, no astronomical prices. $35,000 for a NEW electric car is a reasonable price. At today's price of gasoline, that's about 28,000 liters of gasoline. How quickly an electric car will pay off - it will not be difficult for you to calculate if you know basic arithmetic
^^^^ My question is still valid. The question is not regarding the generation of electricity. For example, if solar panels are used for running the vehicle, how do you use your car at night when the power is not available. For that purpose you need batteries and they are very expensive.
And if production of batteries don't harm the environment enough, the mining of raw materials for battery production is a very polluting process. On top of that it has triggered civil wars in countries such as Democratic Republic of the Congo.
And you are talking about new technologies in battery production. It has been almost two decades, and Tesla is still using the Nickel-Cobalt-Lithium battery for their vehicles.
Regarding the prices, at least in my country EVs cost 4-5 times more than the gasoline run vehicles.
Whether we like it or not, we need to cut down on fossil fuel usage not only because they are harmful for the environment but also due to them being finite. I understand your concern regarding the batteries; they are made out of harmful raw materials. However, they can be repaired and recycled. Technology is rapidly advancing and newer batteries will be made smaller, lighter and with less harmful materials in the near future.And if production of batteries don't harm the environment enough, the mining of raw materials for battery production is a very polluting process. On top of that it has triggered civil wars in countries such as Democratic Republic of the Congo.
And you are talking about new technologies in battery production. It has been almost two decades, and Tesla is still using the Nickel-Cobalt-Lithium battery for their vehicles.
Regarding the prices, at least in my country EVs cost 4-5 times more than the gasoline run vehicles.
At least here, there are a few affordable options for electric cars, so the difference isn't that huge for a somewhat luxury performance car. For instance, the new VW ID4 GTX, which is AWD, 300hp with great range, costs approximately €45.000–€50.000 with the government's subsidy, if I remember correctly
^^^^ My question is still valid. The question is not regarding the generation of electricity. For example, if solar panels are used for running the vehicle, how do you use your car at night when the power is not available. For that purpose you need batteries and they are very expensive.
And if production of batteries don't harm the environment enough, the mining of raw materials for battery production is a very polluting process. On top of that it has triggered civil wars in countries such as Democratic Republic of the Congo.
And you are talking about new technologies in battery production. It has been almost two decades, and Tesla is still using the Nickel-Cobalt-Lithium battery for their vehicles.
Regarding the prices, at least in my country EVs cost 4-5 times more than the gasoline run vehicles.
And if production of batteries don't harm the environment enough, the mining of raw materials for battery production is a very polluting process. On top of that it has triggered civil wars in countries such as Democratic Republic of the Congo.
And you are talking about new technologies in battery production. It has been almost two decades, and Tesla is still using the Nickel-Cobalt-Lithium battery for their vehicles.
Regarding the prices, at least in my country EVs cost 4-5 times more than the gasoline run vehicles.
Since cars using fossil fuel emit a lot of carbon dioxide and have a significant negative impact on the environment, the era of crude oil is already coming to an end. As a result, most automakers are switching to hybrid or dual-engine cars that use little fossil fuel and solar energy and switch to it automatically when the battery runs low, or Tesla cars that run on electricity.
First of all, cars can't run on solar panels, wind turbines or tidal mills. The electricity that is generated by the solar panels need to be stored in batteries. And in order to manufacture these batteries, you need massive amounts of metals such as Nickel, Cobalt and Lithium. And these are rare metals and the ongoing mining process has already resulted in huge environmental damage. And now coming to the affordability part, on average the EVs cost 3x or 4x compared to the gasoline-variety with the same specs.
You probably just do not quite understand what renewable energy sources are, and how "green energy" is used
All wind, tidal, thermal, solar systems have one goal - to convert the energy received from the outside into electrical energy. I hope everything is clear here. And here is the most interesting. Any energy must be extracted, converted into the desired "format", and transferred to the consumer or made a reserve.
I have to upset you... Cars run from green energy, lights shine, food is cooked in the oven... You probably confused "home" electricity from window solar panels with industrial stations
Tales about "great harm" are 90% lies of propaganda, those who lose income, 10% reality. So far, the production of batteries is not the most environmentally friendly production, but not a "nightmare-nightmare" against the background of emissions from internal combustion engines and other plastic bags
Let me remind you how hysterical Russia was squealing to the whole world about the dangers of "shale oil"
And it turns out that they themselves have been using hydraulic fracturing to extract their oil for many many years In addition, battery manufacturing technologies will change dramatically in the next 5 years and completely different technologies will go into mass production. Which, by the way, will allow accumulating huge amounts of that same green energy. So - the time of oil and gas is a thing of the past, like coal in the 19-20th century
Hmm, and about the price of cars, you AGAIN or do not own, or, as has already happened - CONSCIOUSLY LIE
Why, if now it is extremely easy to check the information.In general, I had a strong suspicion that you are not from India, but from Russia, there are such habits of constantly lying "the normal state of a person"
Since cars using fossil fuel emit a lot of carbon dioxide and have a significant negative impact on the environment, the era of crude oil is already coming to an end. As a result, most automakers are switching to hybrid or dual-engine cars that use little fossil fuel and solar energy and switch to it automatically when the battery runs low, or Tesla cars that run on electricity.
First of all, cars can't run on solar panels, wind turbines or tidal mills. The electricity that is generated by the solar panels need to be stored in batteries. And in order to manufacture these batteries, you need massive amounts of metals such as Nickel, Cobalt and Lithium. And these are rare metals and the ongoing mining process has already resulted in huge environmental damage. And now coming to the affordability part, on average the EVs cost 3x or 4x compared to the gasoline-variety with the same specs.
Entering 2022, the price of crude oil is still below $100, but entering March it immediately increased and penetrated to $118. Of course this triggers the price of commodities to also increase, it is clear that many countries are not benefiting from that price.
after that it fell a bit in a few months later and increased again in June and stayed above $100 until early August, and finally now it can be below $100. will this last? if you look at the past, there will always be opportunities for improvement and this is not good for the world economy, which has already begun to enter a crisis.
In order to reduce the use of petroleum so that dependence can be reduced and reduce the risk of inflation due to the increase in oil, the era of fossil fuels should inevitably be reduced immediately. apart from having a clear negative impact on environmental pollution, it should start to be replaced with more environmentally friendly ones, even though it's not easy to do right now. but there is already a bright spot that many transportation equipment manufacturers are looking to twin engines or those that are directly powered by electricity or use solar energy. Hopefully this dependence will soon be replaced and the inflation factor can be reduced.
after that it fell a bit in a few months later and increased again in June and stayed above $100 until early August, and finally now it can be below $100. will this last? if you look at the past, there will always be opportunities for improvement and this is not good for the world economy, which has already begun to enter a crisis.
In order to reduce the use of petroleum so that dependence can be reduced and reduce the risk of inflation due to the increase in oil, the era of fossil fuels should inevitably be reduced immediately. apart from having a clear negative impact on environmental pollution, it should start to be replaced with more environmentally friendly ones, even though it's not easy to do right now. but there is already a bright spot that many transportation equipment manufacturers are looking to twin engines or those that are directly powered by electricity or use solar energy. Hopefully this dependence will soon be replaced and the inflation factor can be reduced.
Since cars using fossil fuel emit a lot of carbon dioxide and have a significant negative impact on the environment, the era of crude oil is already coming to an end. As a result, most automakers are switching to hybrid or dual-engine cars that use little fossil fuel and solar energy and switch to it automatically when the battery runs low, or Tesla cars that run on electricity.
You can here long and tediously retell propaganda or other fake news, but the reality is different
I have information from a person who works directly in China, is directly involved in the purchase of oil, and primarily Russian, which Russia, not being able to sell to other countries (due to many factors and restrictions from the spring-summer 2022), began to sell to those who does not hesitate to support the global terrorist.
But, since the situation is not very in the hands of Russia, both China and India have set their own conditions for the price. Today, discounts on oil, from the market price "here and now" is up to 30%, this is for normal oil. Russian terrorists were forced to give a discount of 50% or more for China and India on this oil, and to bear the logistical costs (exactly for China, there is no information about India).
What you are writing about is the pricing of "old" contracts that were signed before the loss of the oil market in the EU.
This is what reality looks like.
Let me remind you of the ancient saying "No matter how much you say halva, it will not become sweet in your mouth"
Well, that's not really private information or news. Russia started selling to India and Russia at discounted prices when Europe limited their usage and purchases. However, Europe started buying from other markets, which were reselling Russian oil at much higher prices. I love how Europe "punished" Russia with their sanctions. The only ones suffering here are European citizens, especially those who were already in a desperate situation.I have information from a person who works directly in China, is directly involved in the purchase of oil, and primarily Russian, which Russia, not being able to sell to other countries (due to many factors and restrictions from the spring-summer 2022), began to sell to those who does not hesitate to support the global terrorist.
But, since the situation is not very in the hands of Russia, both China and India have set their own conditions for the price. Today, discounts on oil, from the market price "here and now" is up to 30%, this is for normal oil. Russian terrorists were forced to give a discount of 50% or more for China and India on this oil, and to bear the logistical costs (exactly for China, there is no information about India).
What you are writing about is the pricing of "old" contracts that were signed before the loss of the oil market in the EU.
This is what reality looks like.
Let me remind you of the ancient saying "No matter how much you say halva, it will not become sweet in your mouth"
Anyway, I've come to terms that stability isn't going to come any time soon. Crude oil prices are increasing once again and are constantly fluctuating, with gas prices being constantly on the rise here, causing inflation to worsen.
Yes, my mistake, I didn’t express my idea correctly - you predicted an increase in the price of Russian oil, “Russia’s total influence on the hydrocarbon market”, and dreamed that Russia would again have a high income from oil, so it’s more correct
I already wrote - do not worry, it will never be good in Russia and with its oil. It becomes, at best, an outcast country like North Korea. Ideally, it will be divided into a large number of free republics.
And oil and gas will become the raw material that will ensure the payment of reparations to all victims of its terror.
But why should India worry? India, like China, is "helping fraternal Russia" by forcing it to sell its oil to them at a dumping price. Like it or not, much of India and China's oil is purchased from a global terrorist country at prices below $40 a barrel. This is Urals brand oil. The fact that the government "sings songs" to you about the high price is already your personal problem. With a high probability, this is also a corruption scheme, when you pay for gasoline / diesel, based on the price of raw materials of $ 90, and your wise rulers pocket the difference. Think about it.
I already wrote - do not worry, it will never be good in Russia and with its oil. It becomes, at best, an outcast country like North Korea. Ideally, it will be divided into a large number of free republics.
And oil and gas will become the raw material that will ensure the payment of reparations to all victims of its terror.
But why should India worry? India, like China, is "helping fraternal Russia" by forcing it to sell its oil to them at a dumping price. Like it or not, much of India and China's oil is purchased from a global terrorist country at prices below $40 a barrel. This is Urals brand oil. The fact that the government "sings songs" to you about the high price is already your personal problem. With a high probability, this is also a corruption scheme, when you pay for gasoline / diesel, based on the price of raw materials of $ 90, and your wise rulers pocket the difference. Think about it.
Initially some of the oil refineries in India were able to source crude oil supplies from Russia, at a discount of about $30 per barrel (although a large part of it was lost as a result of elevated transportation and insurance costs). But in recent months, the discount has hovered at around $5 to $6 per barrel, as a result of increased demand from the European Union. Many of the refiners have reverted to importing crude from Iran and Iraq, as they are giving more discount. The situation may change next month, as the EU embargo on tanker crude from Russia will take in to effect.
You can here long and tediously retell propaganda or other fake news, but the reality is different
I have information from a person who works directly in China, is directly involved in the purchase of oil, and primarily Russian, which Russia, not being able to sell to other countries (due to many factors and restrictions from the spring-summer 2022), began to sell to those who does not hesitate to support the global terrorist.
But, since the situation is not very in the hands of Russia, both China and India have set their own conditions for the price. Today, discounts on oil, from the market price "here and now" is up to 30%, this is for normal oil. Russian terrorists were forced to give a discount of 50% or more for China and India on this oil, and to bear the logistical costs (exactly for China, there is no information about India).
What you are writing about is the pricing of "old" contracts that were signed before the loss of the oil market in the EU.
This is what reality looks like.
Let me remind you of the ancient saying "No matter how much you say halva, it will not become sweet in your mouth"
1. The price of oil, from which gasoline is NOW made, was purchased when it had a different price. In this case, it's higher. Oil is bought mainly by futures - and these are deliveries of future periods, i.e. the price is formed based on the forecast for the future.
Frankly speaking, that does not make sense. Companies have bought oil in past for low price, and sell high if market oil price today goes up, and sell high if market oil price today goes down. The only logical explanation I see is greed.
And I cant understand why diesel now cost more than petrol? Technologies are the same. Petrol is more clean fuel. But it cost less. Nothing has changed, but previously diesel always cost less than petrol.
Can someone please explain, why during crude oil price drops, fuel prices on petrol station dont move or even go up? Is this due to companies loosing profit and try to keep on save level? Such simple explanation? Our companies say that they dont earn much, or take only 5-10 euro cents from every liter sold. And the real problem is government and excise tax, which often is 40-50% or fuels price.
There are several reasons. Both objective and subjective.
1. The price of oil, from which gasoline is NOW made, was purchased when it had a different price. In this case, it's higher. Oil is bought mainly by futures - and these are deliveries of future periods, i.e. the price is formed based on the forecast for the future.
2. Reinsurance of risks, in unstable times, by commercial structures
3. Obtaining additional benefits, speculators
Yes, my mistake, I didn’t express my idea correctly - you predicted an increase in the price of Russian oil, “Russia’s total influence on the hydrocarbon market”, and dreamed that Russia would again have a high income from oil, so it’s more correct
I already wrote - do not worry, it will never be good in Russia and with its oil. It becomes, at best, an outcast country like North Korea. Ideally, it will be divided into a large number of free republics.
And oil and gas will become the raw material that will ensure the payment of reparations to all victims of its terror.
But why should India worry? India, like China, is "helping fraternal Russia" by forcing it to sell its oil to them at a dumping price. Like it or not, much of India and China's oil is purchased from a global terrorist country at prices below $40 a barrel. This is Urals brand oil. The fact that the government "sings songs" to you about the high price is already your personal problem. With a high probability, this is also a corruption scheme, when you pay for gasoline / diesel, based on the price of raw materials of $ 90, and your wise rulers pocket the difference. Think about it.
I already wrote - do not worry, it will never be good in Russia and with its oil. It becomes, at best, an outcast country like North Korea. Ideally, it will be divided into a large number of free republics.
And oil and gas will become the raw material that will ensure the payment of reparations to all victims of its terror.
But why should India worry? India, like China, is "helping fraternal Russia" by forcing it to sell its oil to them at a dumping price. Like it or not, much of India and China's oil is purchased from a global terrorist country at prices below $40 a barrel. This is Urals brand oil. The fact that the government "sings songs" to you about the high price is already your personal problem. With a high probability, this is also a corruption scheme, when you pay for gasoline / diesel, based on the price of raw materials of $ 90, and your wise rulers pocket the difference. Think about it.
Initially some of the oil refineries in India were able to source crude oil supplies from Russia, at a discount of about $30 per barrel (although a large part of it was lost as a result of elevated transportation and insurance costs). But in recent months, the discount has hovered at around $5 to $6 per barrel, as a result of increased demand from the European Union. Many of the refiners have reverted to importing crude from Iran and Iraq, as they are giving more discount. The situation may change next month, as the EU embargo on tanker crude from Russia will take in to effect.
It's so heartbreaking that despite the situation, many business owners are still taking advantage to earn more. They focus on earning money and growing their business and just ignore the fact that it could affect the economy even worse. In our country, there were a few oil price rollbacks but they still doubled or even tripled later on. This has been happening for a long time which is obviously a part of their business strategy. Yes, we're in the recession period due to many reasons but we can't deny the fact that there are still people who enjoy and take advantage of this crisis.
Scenarios like this are not new but it already happened before during the covid outbreak. People are hoarding alcohol, facemask and other sanitizing products and then they sold it later on at a much higher price. Those types of people have no soul but they only think of themselves on how to make more money even if others are becoming more poorer.Your country is still better because rollbacks are still being felt there but other countries are more worse because instead of a rollback, prices of the oil only got doubled or tripled. It's hard but people have no choice to avail those over price products because if not then they are the only ones that will suffer.
Why should I want the oil prices to rise? Here in India, we import more than 85% of the crude oil that we consume and at this point we are not just suffering from sky high oil prices, but also from the devaluation of the Indian Rupee (went down by more than 10% since the start of this year). What that means is that the crude oil trading at $90 per barrel now is equivalent to a price of $100 per barrel (due to the weakening of the Rupee). The situation is not sustainable in the long run. The government is under a lot of pressure.
This is happening in my own nation as well, there are just way too many nations who have devalued fiat, which means that oil is getting higher means it’s not really going higher just alone, fiat also devalues so it’s even higher, and there are situations where our fiat devalued so much that even while oil was going down, we are paying a lot more in reality.I am paying 10% of my salary for gas prices just for my travels, and I do not even go to work with my car every day, if I did that then I would be paying even more, this is for just regular stuff. So, oil prices going down didn't really changed a thing for us, it should be going down even more, or we should be earning a lot more.
Can someone please explain, why during crude oil price drops, fuel prices on petrol station dont move or even go up? Is this due to companies loosing profit and try to keep on save level? Such simple explanation? Our companies say that they dont earn much, or take only 5-10 euro cents from every liter sold. And the real problem is government and excise tax, which often is 40-50% or fuels price.
Have you seen any significant drop in gas prices in your area? Will oil drop even further, despite the ongoing war?
Looks like the downwards trend of oil is continuing, right now WTI is trading at 83.45 USD and Brent at 89.26 USD. This should mean that the gas prices are more affordable, unfortunately I don't see any shifting in the prices at my local gas stations. The price I have to pay for my fuel is still very close to the prices during the summer when Oil was above 100 USD. As always the petrol companies are eager to increase prices as soon as oil goes up, but whenever the prices are falling the profits are not being given to the customers. It's a similar story with the gas situation in my country. The prices on the gas market had been falling for some time now, but I didn't hear of any supplier giving the lower prices straight to the customers. It might take another 4-6 months for the lower prices to drop down to each household. Before the war the gas company had one fixed price for the year that was set at the start of the year and had to be paid in monthly instalments. And now we had two price increases in less than 8 months.
Good news because inflation in my country continues to increase especially if it has entered the rainy season that usually occurs flooding, longor, and crop failure so that if world oil can be below $ 100 then there is no increase in oil.
~~~
And you also wanted oil to rise, right?
But no, it has not grown and WILL NOT GROW in price. As you very accurately noted - "OPEC's refusal from previously increased production, and a reduction of 1.2 million barrels / day" SHOULD lead to some panic, an increase in futures ... But nothing happened, except for semi-daily "small tantrums", after why oil went into them, of course, Urals "showed an excellent increase in negative price changes" (this is me reporting the news in Russian)
Let's put aside your desire to "at least somehow help Russia", and try to understand what is really happening? Don't you want? Is it true that fantasies and propaganda won't work? I, respecting your right, will leave the right to choose the answer for you! And if you don't want to take part in the assessment of REALITY, I will do it myself, it's not difficult if you live in reality ...
~~~
And you also wanted oil to rise, right?
But no, it has not grown and WILL NOT GROW in price. As you very accurately noted - "OPEC's refusal from previously increased production, and a reduction of 1.2 million barrels / day" SHOULD lead to some panic, an increase in futures ... But nothing happened, except for semi-daily "small tantrums", after why oil went into them, of course, Urals "showed an excellent increase in negative price changes" (this is me reporting the news in Russian)
Let's put aside your desire to "at least somehow help Russia", and try to understand what is really happening? Don't you want?
Is it true that fantasies and propaganda won't work? I, respecting your right, will leave the right to choose the answer for you! And if you don't want to take part in the assessment of REALITY, I will do it myself, it's not difficult if you live in reality ...~~~
Why should I want the oil prices to rise? Here in India, we import more than 85% of the crude oil that we consume and at this point we are not just suffering from sky high oil prices, but also from the devaluation of the Indian Rupee (went down by more than 10% since the start of this year). What that means is that the crude oil trading at $90 per barrel now is equivalent to a price of $100 per barrel (due to the weakening of the Rupee). The situation is not sustainable in the long run. The government is under a lot of pressure.
Yes, my mistake, I didn’t express my idea correctly - you predicted an increase in the price of Russian oil, “Russia’s total influence on the hydrocarbon market”, and dreamed that Russia would again have a high income from oil, so it’s more correct
I already wrote - do not worry, it will never be good in Russia and with its oil. It becomes, at best, an outcast country like North Korea. Ideally, it will be divided into a large number of free republics.
And oil and gas will become the raw material that will ensure the payment of reparations to all victims of its terror.
But why should India worry? India, like China, is "helping fraternal Russia" by forcing it to sell its oil to them at a dumping price. Like it or not, much of India and China's oil is purchased from a global terrorist country at prices below $40 a barrel. This is Urals brand oil. The fact that the government "sings songs" to you about the high price is already your personal problem. With a high probability, this is also a corruption scheme, when you pay for gasoline / diesel, based on the price of raw materials of $ 90, and your wise rulers pocket the difference. Think about it.
Therefore if crude oil price go down there is probability that gas price will also come down. Retailers are also using the flood disaster to even increase the price of gas.
I would not rely on that much. Crude oil price is dropping (or if we check some of first posts here, then we could find out that its price is only on july-august level), but in my country (European country) petrol and diesel prices are gaining 3-5 cents daily. We had highest fuel prices in late spring, about 1.90 EUR for diesel. High fuel prices was described as "war consequences". Tomorrow after tomorrow diesel price will step over 2,1 EUR mark. A growth during price drops. What kind of bs it that ?
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