Topic: Fuel prices hitting an eight year high - page 17. (Read 3974 times)

Tell me - and you are not worried that everything was fine on the market yesterday, but then, someone was not given what he wanted ... And he decided to show everyone who is the boss and who needs to be obeyed. He now has an almost monopoly influence on the European market, has influence on some key EU politicians, and wants to have total influence on the EU hydrocarbon market. What for ? There are many goals - to fill his impoverished pocket, to show that he can do what he wants and his laws and rules are not interested, that he will only act as he wants. And if without beautiful descriptions, this is called economic terrorism. And the only question is whether cowardice will triumph and whether politicians and whole European peoples will kneel before this terrorist, or will honor, conscience, pride prevail and such a variant of terrorism will be destroyed and never again will the "mad merchant from a rotten gas station" will intimidate and rule the peoples ?!
PS To understand the situation - according to all the data, hydrocarbons, without the development of new fields, are quite enough today to provide today's oil and gas consumption for another 15-20 years without any problems! Believe me, in today's technological world, 15-20 years is a huge time for the development, implementation and production of a huge number of solutions that will significantly reduce the consumption of hydrocarbons. But someone is used to living in the Stone Age, and terrorizing the whole world ...

It’s inflation, going to hyperinflation. There’s simply too much money in the system that’s sending prices UP. Plus the price of crude is oil surging too, https://www.investing.com/commodities/brent-oil

Another graph for everyone to check is the average wage and salary of workers, https://fred.stlouisfed.org/series/LES1252881600Q

It is surging, with the largest surge during 2020 because there’s simply too much money printed, and it might not stop yet. Hedge, HODL Bitcoin.

It's always troubled me that the green folks wanting to eliminate fossil fuels will turn their head away from nuclear energy, pretending that the fate of Chernobyl is emblematic of all nuclear energy plants. OPEC has the monopoly on oil and the R&D into green forms of energy aren't happening fast enough, especially when you eliminate nuclear as an option.

Europe wants to reduce emissions, and at the same time are asking Russia for more natural gas

Super 95 gasoline has reached €2 per liter here. Mostly because of taxes of course.

It's not nearly as available as fossil fuel. This is reality (note that this doesn't even include non-electric energy):

As an individual, you can just buy solar panels, fill your rooftop, and call yourself all green. But as a continent, ramping up the production (in China, Lol) to the required volume takes a few decades.

I also read that the rise in fuel prices is coming from the producers being unwilling to increase their production output. For oil producers in the middle east it would be easy to just ramp up production but of course they are not interested. We shouldn't forget that fuel was very cheap over the last 10 years and especially with the pandemic we saw a big drop in demand. The lockdown prevented people from travelling and industrial production also dropped because companies were laying off workers. In the end the oil companies now are very happy with higher prices and will likely not trying to produce more to lower them any time soon. Its all about making more money for them.

I think you're right, but it's amazing to me that in 2021 with all the technology we have at our disposal that we're still very much dependent on oil drilling, refining, and gasoline consumption.  Solar technology is definitely available; I just think it's unaffordable for most folks, at least for the initial outlay for solar panels and whatever else is needed to power an average home.  I would imagine that once the price comes down for those things (and people wise up to the fact that solar is cheaper and better for the environment), adoption will increase.

I also get the feeling that car manufacturers and big oil companies have hindered the adoption of alternative energy sources for a long time now, though backdoor lobbying.  If you asked me for evidence of that, I couldn't provide it, but those two industries alone have so much invested in keeping people dependent on oil that it's hard to believe that their pool of enormous resources hasn't gone into buying off politicians as well as influencing public opinion.

Viva la Tesla!

The so-called renewable energy sources are not enough to depend on yet, I do understand that the fossil fuel usage should be reduced, but I don't believe that green energy sources are to depend on currently. We're a long way till that happens.

I'm hoping that it's a one off thing and prices fall to normal levels soon, fueling up the car or buying heating gas oil has become unbearable.

And years of neglect, no more investing in reserves a complete government aversion towards anything that is related to fossil fuel finally comes and presents the bill. Keystone was bad, remember?

Europe is paying the price for it too, no more drilling, let's go all green, but when the wind stops Denmark does also,   no more water in Norway dams and we're going to get power from what? The solar panels in Germany that get 4 hours of sun a day and the coal and nuclear and gas power plants that are shut own?

We're finally here, right before total green power and renewable dominance, where everyone will ditch their car and cycle in the morning to "work" in the woods gathering tree barks and mushrooms. Of course, you will need a special permit for this cause it will also affect the environment, so only 5 square centimeters of treebark per family member per day.

What could anyone expect from such a situation:
https://www.nytimes.com/2021/10/04/business/energy-environment/oil-and-gas-prices-clean-energy.html


Yeah, it makes perfect logic, you destroy the supply and then you go on all fours and beg others to give you oil. What could go wrong???

And if you think this is bad, wait for the consequences, wait till the cost will reflect in the agriculture products, in the transport, in everything else, then the real pain will start, better prepare which room you want to heat during winter.
Oh, and regular here is still €1.4 diesel a bit cheaper at 1.37.

Fuel prices have skyrocketed in the past few months, on a worldwide scale. Here in Greece, the average price per liter for 95 Unleaded petrol is €1.75, while for diesel it's approximately €1.45. A huge surge is also expected, in the soon-to-be launched season of heating gas oil, which is expected to start within the next few weeks, with a rumored price of at least €1.10/liter.

I've read that this spike in prices is triggered by an increase in price per barrel, due to oil companies worrying about the pandemic, while their production is limited compared to the higher demand. Have you heard anything relative? What's causing this surge in prices, could it be a one-off thing which lasts a couple of months at most?

What's the average cost of petrol/diesel in your country? Share your thoughts on what exactly is causing this crisis, which is also spiking electricity costs up, increasing the budget for the average household.

Sources:
https://www.bruegel.org/2021/09/is-europes-gas-and-electricity-price-surge-a-one-off/
https://www.bbc.com/news/business-58718148