General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums'Greatest global energy security threat in history,'
Restoring oil and gas flows from the Gulf may take six months, International Energy Agency Executive Director Fatih Birol said in an interview with the Financial Times.
He added that both politicians and markets are underestimating the scale of the disruption, which he sees as the "greatest global energy security threat in history, with about one-fifth of global oil and gas supplies stranded in the region.
(Bloomberg)
Johnny2X2X
(24,149 posts)And in most cases, gas prices have little to do with the President, but in this case, he is 100% responsible for this.
Trump and his crew of amateurs are breaking things that they know nothing about.
flying_wahini
(8,270 posts)Johnny2X2X
(24,149 posts)The know nothings know nothing about what they are doing, as usual.
Trump is being told that prices will ease quickly, this expert says differently. Even if things stopped today, we're talking elevated prices for several months. Absolute calamity for the American consumer.
If the prices at the pump is $6 a gallon during campaign season, Republicans might not even campaign, they might hide out.
maxsolomon
(38,635 posts)It's likely to go over $6 here. Seattle has extremely high prices plus extremely high taxes.
moniss
(9,026 posts)they are being assisted by a more or less compliant media. It is obvious that releases from petroleum reserves are a very short term solution of a matter of days not months. The mention of fertilizer impact is fairly brief and here today and then they move it to the "been there done that" file.
The media also does a horrendous job of explaining that the problems caused by the misbegotten war on Iran can be one of price and availability or just price. US transportation fuels for example are not a supply issue but they are a price issue. Fertilizer will be both. For Asian countries, for example, transportation fuels are both a supply and price problem.
But the media just latches on to what is the easy metric for storytelling which is price. As always these days with the vast majority of media we don't get depth, nuance or context.
SamuelTheThird
(1,070 posts)And yes a lot of the media is not sketching out the dire probabilities