You don’t need when you’re going round in circles.
Trumps attack on Iran - 2026 edition
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.....just when you thought the Orange Idiot and his pointless war, could not get any worse.
Poor Ukraine.
Seems a strange move but just had a quick check and it seems to be a temporary easing of sanctions on oil 'already in transit', ie, at sea on tankers with nowhere to offload. It's an attempt to try and bring the cost of oil down, although so far, it hasn't.
I'm wishing now that they had just given him The Nobel and be done with it.
...the war exposes a crucial fact about the structure of the global energy system. Despite decades of discussion about energy transitions, global production and trade remain heavily dependent on oil and gas. A few years ago, Saudi Arabia’s energy minister declared that “every molecule of hydrocarbon will come out”. The implications of an energy system still anchored in fossil fuels are now made stark. The Gulf sits at the centre of that system, not only as a supplier of crude but also as a hub for refining, petrochemical and fertiliser industries that sustain global manufacturing and agriculture. The war highlights the danger of continued dependence on fossil fuels – and why transitioning away from them is now more vital than ever.
Adam Hanieh @ the Guardian
Everyone will feel the effects of unintended consequences from the American/Israeli 'pre-emptive self-defensive military procedures' ongoing throughout the Middle East.
Adam Hanieh @ the Guardian
Everyone will feel the effects of unintended consequences from the American/Israeli 'pre-emptive self-defensive military procedures' ongoing throughout the Middle East.
It’s a desperate move that will make no difference to prices because Irann controls shipping in the Hormus straits. No difference other than funding Pootin's war and his support for the Ayatolah. More dumb n non strategy from Trumpf.
The entire energy thing is a farce. Was discussed on Debate Night last night (think Scottish QT) and they were discussing how, even if we allowed the opening up of more fields in the North Sea, it wouldn't directly afford us any more energy security or decrease in prices because the product is sold on the global market. Then the good old topic came up of things being tied to the wholesale gas price etc.
Don't worry, I'm confident our politicians will discuss this important subject for the next decade or two, then we might actually get some tangible improvements.
Having said that, don't hold your breath.
We had/have the North Sea, why decades ago didn't we just ensure we could produce the end product ourselves.
Too straightforward an approach no doubt. Not good enough an approach to ensure multiple people can make £££ profits. So here's an idea, let's conveniently overcomplicate the whole thing.
Too straightforward an approach no doubt. Not good enough an approach to ensure multiple people can make £££ profits. So here's an idea, let's conveniently overcomplicate the whole thing.
Probably because it was (and still is) far cheaper to get the stuff from elsewhere.
Just like it's cheaper to get stuff from China.
Until it eventually isn't, at which point the wailing starts.
Capitalism, Baby
I'm maybe wrong, might there not have been a cost curve that would eventually have been to the consumers benefit though? i.e. if we had ramped up our own extraction and refining processes decades ago, yes there's an upfront capital cost, and recurring to maintain/upgrade, however if we had essentially done it all ourselves, would that not have been better for us, both in terms of energy security and consumer cost? The answer to one or both might be 'no' of course!Probably because it was (and still is) far cheaper to get the stuff from elsewhere.
Just like it's cheaper to get stuff from China.
Until it eventually isn't, at which point the wailing starts.
Capitalism, Baby
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Another one schooled and made to realise that Trump isn't so bad. I think giving him the Nobel peace prize might be a little over the top myself tbh but if you think he should have received it well that's your opinion.I'm wishing now that they had just given him The Nobel and be done with it.
China aren't winning by losing their sphere of influence in the middle east, China aren't winning by losing their main and cheapest supplier of oil, they aren't winning by the Humous straits closing and choking their int'l trade and they certainly aren't winning by having it shown to the world that they've been backing the wrong horse for the last 10 years or more.
How do you think they're 'winning'?
Apart from the black market (sanctioned oil) the price of oil is set by the global markets or opec or whatever. Oil companies are no longer interested in paying 95% tax for extracting North Sea Oil.
The Norwegians are happy to drill, extract and develope further wells.
It would have prevented the inevitable tantrum. No one seriously expected him to start WWIII though.
Trump-baby for ya.