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Misc This Means WAR

NoSnowATL said:
Drill baby drill. 7% of our petroleum travel through the strait. We don’t need it. We have plenty here if the tree huggers didn’t have a voice. This crisis is market driven not a supply issue. This war is about control not gas.
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We cant use the oil that comes out of the ground in the US in almost all the US refineries. The real issue is oil companies here not wanting to build new refineries that could handle domestic oil.
 
NoSnowATL said:
Drill baby drill. 7% of our petroleum travel through the strait. We don’t need it. We have plenty here if the tree huggers didn’t have a voice. This crisis is market driven not a supply issue. This war is about control not gas.
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Increasingly the investment horizon for oil and gas exploration just doesn't make sense. The energy transition is happening. Demand for retail fuel is going to go down. How far down is anyone's guess.

There will still be a need for extraction and refinement but within 20 years you're going to see even more consolidation and shrinking of that market. It's entirely realistic that within a decade ~1/3 of new vehicles sold in the US will be electric. Other nations are further down the road and their fuel demand is falling.
 
JHS said:
If Trump stops the war and Iran controls the strait, gas prices will double or even triple when they close it. IF you can even find it. Be very careful what you wish for. Now as to what you were saying, yes prices would be much lower if Trump had never attacked Iran, but I'm not sure he had a choice. If Iran ever got a nuclear weapon we would have WW3 and every nuclear weapon on the planet would be used or destroyed.
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The strait is closed, almost no ships transit the strait, the ones that do get attacked.....

 
Downeastnc said:
The strait is closed, almost no ships transit the strait, the ones that do get attacked.....

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That's true, but this can only go on for so long before the reserves we are using now run low. Then we get higher prices and even rationing. This will make the 1970's shortages look like a picnic. Things will get UGLY and I don't think most will like it. Things like travel restrictions and rolling blackouts.
 
ChrisAMB said:
Increasingly the investment horizon for oil and gas exploration just doesn't make sense. The energy transition is happening. Demand for retail fuel is going to go down. How far down is anyone's guess.

There will still be a need for extraction and refinement but within 20 years you're going to see even more consolidation and shrinking of that market. It's entirely realistic that within a decade ~1/3 of new vehicles sold in the US will be electric. Other nations are further down the road and their fuel demand is falling.
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True that electric, and potentially hydrogen tech will continue to grow and get more of the market share.
In spite of that, a lot of rubber and plastic products will still demand oil, so its usefulness is eternal however fading as new generations emerge.
 
Everything is fine.....paper oil is the price of hopium...weeks of being told oil will flow etc...versus actual oil supply which continues to plummet on actual oil not flowing.

 
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