Official 2022 Russian Energy Shock Thread

[thatrapsfan]

This deserves a thread on its own considering its huge geopolitical implications.

Oil prices now the highest they have been since 2008, natural gas prices the highest they ever have been in Europe, and with the potential to grow further in months ahead.

Bank of America, among others, now speculation $200 a barrel oil is a certainty IF Russian exports are banned outright:

Oil prices hit 14-year highs on Russia oil ban talks, Iran deal delay

 

[FAH1223]

 

[Payday23]

 

[FAH1223]

 

[the cac mamba]

yea this is a fukking awful situation 6 dollar gas is devastating

luckily ive been making 1 tank stretch almost 3 months

 

[thatrapsfan]

War in Ukraine: West punishes Putin with oil bans and gas curbs

So far just the US and UK who followed through on this commitment. Oil price rose after announcement and likely will see major rises if any Western European country, more dependent on Russian imports also signs on.

Russia also claiming they will shut down the Nord Stream 1 pipeline if Western Europe bans imports, which would certainly lead to a massive rise.

A lot of moving parts, but almost a guarantee high prices remain for interim.

 

[88m3]

 

[Broke Wave]

This has been the most disastrous administration for average Americans in any of our lifetimes. Not even the financial crisis in 08 can match the scale of destitution and poverty that grips the western world on such a massive level.

 

[MoneyTron]

This has been the most disastrous administration for average Americans in any of our lifetimes. Not even the financial crisis in 08 can match the scale of destitution and poverty that grips the western world on such a massive level.

 

[the cac mamba]

This has been the most disastrous administration for average Americans in any of our lifetimes. Not even the financial crisis in 08 can match the scale of destitution and poverty that grips the western world on such a massive level.

biden inherited most of it, inflation, the energy shortage. but the dems' terrible politics isn't doing them any favors

"just go buy an electric car" is not the solution america is looking for



no one wants to hear this shyt. we want to hear what you're doing about gas THIS MONTH

 

[Hood Critic]

This has been the most disastrous administration for average Americans in any of our lifetimes. Not even the financial crisis in 08 can match the scale of destitution and poverty that grips the western world on such a massive level.

In 15 months huh?

Some of the stuff I read here is beyond hilarious.

 

[MoneyTron]

no one wants to hear this shyt. we want to hear what you're doing about gas THIS MONTH

I do. If Manchin doesn't want to address America's dependence on fossil fuels and climate change then maybe this is the opportunity to do something about it.

To me, Russia's impact on oil prices is the perfect example of why the impact of foreign oil on our energy prices needs to be addressed.

 

[the cac mamba]

I do. If Manchin doesn't want to address America's dependence on fossil fuels and climate change then maybe this is the opportunity to do something about it.

ok. are we gonna do something about it by memorial day weekend?

people will buy electric cars when they feel they're a superior product. im not even really down with forcing it but either way, this thread is about 2022

 

[MoneyTron]

ok. are we gonna do something about it by memorial day weekend?

people will buy electric cars when they feel they're a superior product. im not even really down with forcing it

No one is forcing you to buy an EV. The automakers are planning to do that themselves. They haven't been spending hundreds of billions on EV R&D for nothing.

As for energy prices, the prices were rising rapidly due to the conflict, not this recent decision. You want energy prices to stabilize, you find ways to end the war.

 

[Hood Critic]

It takes major motivating factors to force change, especially in areas where we are aware changes are inevitable. The pandemic forced us to address a dependency on foreign silicon and microchips. Putin shooting his shot will force totalitarian and autocratic regimes to remain weary of globalism as they're seeing first hand how it can be weaponized. Our efforts to bring down the Putin regime will force us and many others in Europe to face our dependencies on fossil fuels as a point of failure in domestic and global economy.

The new normal fuel prices will be worse than today's sticker shock prices.