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[–] 27 points 8 months ago (1 child)

Almost like we should've ELECTRIFIED AND BEEN DONE WITH THIS SHIT A DECADE AGO.

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  • [–] 27 points 8 months ago

    Oil producers love the profits from this chaos but they understand that it will just accelerate people’s acceptance of renewable energy which will destroy their business in the long run.

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  • [–] 19 points 8 months ago (3 children)

    Anyone remember in 2020 when oils price went negative for like, a few hours, and that guy in WSB got paid to buy a couple swimming pools worth of oil or something.

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  • [–] 8 points 8 months ago

    War in Iran is woke now.

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  • [–] 5 points 8 months ago

    Just don’t charge more.

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  • [–] 5 points 8 months ago (2 children)

    Isn't the oil in Venezuela only marketable when the cost is higher?

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  • [–] 1 point 8 months ago
    [–] 1 point 8 months ago
    [–] 1 point 8 months ago*

    The pawn shop near me always has about 20 bikes in front. I better grab a good one before they're the only reasonable form of transportation, and the prices skyrocket.

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  • 16 comments in c/worldnews@lemmy.ml view that post
    [–] 32 points 8 months ago (1 child)

    First to turn off are those AI data centers.

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  • [–] 25 points 8 months ago (6 children)

    Highest oil got was in July 2008 at $147.27

    Lehman Brothers went bankrupt in September 2008

    👀

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  • [–] [S] 20 points 8 months ago* (5 children)

    those are rookie numbers, I bet we'll blow past that in a few weeks

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  • [–] 14 points 8 months ago* (3 children)

    Adjusted for inflation in today's dollars: $220

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  • [–] [S] 10 points 8 months ago (2 children)

    That's totally doable, if Hormuz stays closed, and I see no reason for Iran to reopen it, prices are gonna keep surging. Most of the energy going to Japan, Korea, and Taiwan was passing through there. They don't even have large reserves. So, once they start running out, it's gonna be a bloodbath.

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  • [–] 6 points 8 months ago (1 child)

    The difference between 2008 and today is that the US is a net exporter, which means the US has the option cut its exports to keep oil prices down at home. That'll have fascinating effects on global oil markets.

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  • [–] [S] 11 points 8 months ago

    Yup, the US is largely self sufficient in oil and gas right now. However, if the US cuts the vassals loose, that's going to be disastrous as well. The US has significant dependence on trade with G7 countries, and if they start collapsing economically, then there's going to be blow back in the US as well. It'll likely be a bit more delayed, but I can't see how the US escapes this unscathed.

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  • [–] 12 points 8 months ago

    The spice must flow

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  • [–] 11 points 8 months ago

    Don't threaten us with a good time.

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  • [–] 8 points 8 months ago (4 children)

    Instead of putting pressure on,the usa and israel they put it on the victim side

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  • [–] [S] 8 points 8 months ago (3 children)

    countries that allow US to operate bases on their territory are not victims

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