Fuel prices hitting an eight year high

[LoyceV]

You don't really have safety concerns with green energy alternatives

Compared to nuclear safety, that's not true:

(image source)

It's good to note that basically anything causes less deaths than fossil fuel.

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[Wakate]

And years of neglect, no more investing in reserves a complete government aversion towards anything that is related to fossil fuel finally comes and presents the bill.

Europe wants to reduce emissions, and at the same time are asking Russia for more natural gas

Super 95 gasoline has reached €2 per liter here. Mostly because of taxes of course.

Solar technology is definitely available; I just think it's unaffordable for most folks

It's not nearly as available as fossil fuel. This is reality (note that this doesn't even include non-electric energy):

(image source)

As an individual, you can just buy solar panels, fill your rooftop, and call yourself all green. But as a continent, ramping up the production (in China, Lol) to the required volume takes a few decades.

The world is working in a close door to make this happen to everyone. The rate of carbon dioxide emission is high and government are doing there best to make sure that we all adoption the green living standard which will reduce the emission that is being produced by motor, companies and other source of carbon emission. I know very soon the hype if the crude oil will come to an end

[tyz]

We are now experiencing the aftershocks of Corona. During Corona, oil companies massively cut production capacity. We remember that in the meantime buyers even got money for taking oil because there was no storage capacity. Now that the economy is back at full speed, there is a lack of production capacity that cannot be ramped up as quickly. In addition, there has been little new exploration in the last two years. All of this is a dangerous mix for very high energy prices. Especially if the winter in the U.S. and Europe will be harsh.

[davis196]

The EU wants a free market is the electricity and gas sectors.The EU also wants more expensive "green energy" and more taxes over the coal burning power plants and other "dirty industries"(which makes their production more expensive as well).If you combine all these factors,you get way higher electricity and gas prices.The "green lobby" in the EU is pretty strong.Nobody can get on their way.
There's no reason to blame Russia.Gazprom has long term contracts with the EU gas companies at a pretty average price of around 300USD per 1000 cubic meters of natural gas.The Russians aren't causing problems in the EU gas markets.

[Ultegra134]

We are now experiencing the aftershocks of Corona. During Corona, oil companies massively cut production capacity. We remember that in the meantime buyers even got money for taking oil because there was no storage capacity. Now that the economy is back at full speed, there is a lack of production capacity that cannot be ramped up as quickly. In addition, there has been little new exploration in the last two years. All of this is a dangerous mix for very high energy prices. Especially if the winter in the U.S. and Europe will be harsh.

If I remember correctly, during the previous pandemic, oil prices had plummeted, costing as little as $20 per barrel of crude oil. I recently read that oil drillers are trying to recoup their losses during the pandemic/quarantine.

[Kong Hey Pakboy]

Well, fuel are a limited resources so it's expected to get more expensive in the near future since there are less more of the resources needed to create the fuel.

[DrBeer]

...

It's always troubled me that the green folks wanting to eliminate fossil fuels will turn their head away from nuclear energy, pretending that the fate of Chernobyl is emblematic of all nuclear energy plants. OPEC has the monopoly on oil and the R&D into green forms of energy aren't happening fast enough, especially when you eliminate nuclear as an option.

My position is as follows.
- oil and gas, in a world where its consumption will drop noticeably in the future, is now becoming a weapon, or a means of terrorism in some hands. This means that it is necessary to look for an alternative and diversify the supply of this resource, in order to reduce the effect of economic terror to zero. As you can see, on the market only 1 semi-monopolist begins to "show" what he can do if his conditions are not met, and has already exponentially inflated the gas price over $ 2,000. Such suppliers should simply be removed from the market.
- NPP is a rather controversial decision. On the one hand, it is a highly efficient source of electricity. On the other hand, over the past decades there has been a huge number of very serious accidents. Each nuclear power plant is a potential global collapse. And given that cheap and affordable electricity for some entities is an inconvenient competitor, and they have no moral principles, NPPs can become the next means of terror. It is enough to stop the nuclear power plant - and entire regions will be without electricity, the collapse of production, logistics and other things. But this may not seem enough, and people who swarmed the idea of ​​world terrorism, and who easily use chemical warfare agents against citizens of other countries, will commit a full-fledged terrorist attack at nuclear power plants without unnecessary torment of conscience. And this is already tens of thousands of lives, millions of kilometers of territories polluted for centuries ... No, this is not paranoia. This is a simple statement of what will happen if no alternative paths are found.
- Solar, tidal, wind, and other technologies - may well become the alternative that will provide the required amount of energy, without significant risks. For this, a good step would be a legislative norm - taxes on the production and sale of oil and gas for the development of more efficient green technologies. Just imagine what will happen if today's efficiency of mass-produced solar panels becomes 2-3 times more efficient and the price falls? Who will need oil and gas in such volumes?

[DaveF]

Does nobody remember this from 18 months ago:

https://www.npr.org/2020/04/21/839522390/u-s-oil-prices-fall-below-zero-for-the-first-time-in-history

And now it's the flip side of it, production / extraction was slowed to prevent that from happening again. But, now that demand has increased to ABOVE pre-pandemic levels it took a bit of time for the producers to get full capacity back up they would rather sell less crude for more money then stare at a supply that they can't find storage for. So, the price has gone up. AND with the transportation issues that exist moving the oil, and then moving the refined product (gas /diesel) takes longer and costs more.

-Dave

[DrBeer]

Well, fuel are a limited resources so it's expected to get more expensive in the near future since there are less more of the resources needed to create the fuel.

I beg your pardon - wrong opinion. Let me explain: if this resource, in the future, would have a stable or growing consumption, I would categorically agree. But in the next 10-20 years, the consumption of these resources will noticeably decrease. The fact that market monopolists will resist this, and make "demonstration performances", as, for example, Russia did with gas on the European market, in response to Russia's failure to comply with its requirements.

[zanezane]

That's alarming because we're running out of it and the alternative solutions are still useless because there's no support and the intermittence of the alternative meaning that they're not as reliable as a standard fuel and many other things.

[kryptqnick]

Even though cars are quite popular in my country, with around one car per household, I don't have a car and don't plan to own it because I believe it's an irrational usage of space, and a bad environmental decision. So I think it's good that the fuel price is rising because this will discourage using fuel as well as buying a car. As for the price, it's roughly 1 EUR per litre in my country right now. And more generally, moving away from fossil fuels is very important because, as has been shown in this thread already, it's the least safe and the least eco-friendly energy source out there, so developing and encouraging the adoption of alternatives will literally save lives.

[Ultegra134]

Does nobody remember this from 18 months ago:

https://www.npr.org/2020/04/21/839522390/u-s-oil-prices-fall-below-zero-for-the-first-time-in-history

And now it's the flip side of it, production / extraction was slowed to prevent that from happening again. But, now that demand has increased to ABOVE pre-pandemic levels it took a bit of time for the producers to get full capacity back up they would rather sell less crude for more money then stare at a supply that they can't find storage for. So, the price has gone up. AND with the transportation issues that exist moving the oil, and then moving the refined product (gas /diesel) takes longer and costs more.

-Dave

During the quarantine of 2020, the price of crude oil per barrel had plummeted, down to $20 levels. I haven't seen petrol and diesel being so cheap back then, it was actually the cheapest I've can remember in my lifetime. Unleaded 95 petrol was as low as €1.318/liter and diesel €1.03/liter. Unfortunately, due to the quarantine measures, there wasn't much use, since everything was closed and transportations were banned by any means.

[stompix]

Energy sources in the world will keep on becoming more and more expensive, and that is why EV and every possible renewable energy source will be able to get ahead of the old ones. Not because they are more efficient or they are more green, because they are more cheap.

For the billion? trillion? time!
Renewables are not cheaper.
Who leads the renewables charge in Europe? Germany and Denmark!
Look how electricity prices have evolved in those two countries int he last 10 years.



Who leads the renewables charge in the US? California! Closing fossil fuel powerplants and even planning on shutting down a nuclear station.



Renewables are not cheaper! They are more expensive and more unreliable!
That's why mining in China was done with coal powerplants, that's why mining in the US is done, guess what, from coal and nuclear-powered energy.
Nobody is putting 100 millions into panels but in coal powerplants.

On the other hand, over the past decades there has been a huge number of very serious accidents

Please list at least two dozens of those very serious accidents, singe there is a huge number to pick from 
And if the second one is Fukushima, can you also please also let me know when the last 14-meter high tsunami hit Europe or the US? 

[DaveF]

Question on this since I can't find the answer, in the EU is electricity priced as 2 separate things on your bill or just 1.

In most of US you have delivery charges which are what it costs to keep the power lines up, the substations running, the distribution network, etc.

And then you have the generation charges. What it actually costs to make the electricity.

They are separate line items in most places.  What I have seen in many locations is that the generation costs have gone up some but not a lot.
The DEILVERY costs have gone insane. Mostly due to years and years of neglect of power infrastructure that now has to be fixed / upgraded / replaced.

When Hurricane Sandy hit NY / LI 9 years ago it really showed how badly our power infrastructure was neglected. Over the last 9 years the power company has been upgrading and doing tons of other stuff to make sure it does not happen again into the BILLIONS of dollars of costs. Which we get to pay for.
Had it been done over the decades before the costs would have been less since it's cheaper to keep things maintained then let them get that bad and have to do full scale replacements. And the delivery costs would not be what they are now. Since 10 billion over 30 years is a much smaller per month number then 7 billion over 10 years. (Made up the numbers, but the point remains the same) It's just hard to get people to spend money when everything is working.

It's great to show a chart that shows that country X had their power go up Y%. But without context it's just numbers without meaning.
Germany going up 20% or Estonia going up 19% means nothing if they just committed to massive infrastructure improvements that have nothing to do with the cost of generating power. Not saying that is what happened, just that I can't find any info on it.

-Dave

[dezoel]

You don't really have safety concerns with green energy alternatives

Compared to nuclear safety, that's not true:

(image source)

It's good to note that basically anything causes less deaths than fossil fuel.

The cause for such a small tiny risk in Nuclear is the fact that it is by far the most dangerous thing in the world. We all remember what happened with Japan when they had an earthquake so big that the nuclear plant had a leak and that caused so much problems for them.

It means normally 99.99999% of the time it is by far the safest since if you do not secure it good enough then we are talking about generations of cancer and other bad stuff going around in that place, hence anyone who does it does it very carefully. Wind and Solar and Hydro is by far still the best and most efficient way since it neither hurts the world nor that difficult to do neither, such an easy way to handle.

[rudolfaxl]

I'm really worried about the oil price hike right now it's really difficult for my family because now every day going to work and filling up gas has taken up a part of my own salary income has become a thing too big , hope in the coming days there will be measures to make the oil price drop , so that my family can save a part of travel expenses.

[Sithara007]

One thing that I have difficulty in understanding is why the tree huggers have an issue with nuclear energy? Without a doubt, it is the safest, cheapest and cleanest form of electricity available. A few accidents have occurred in the past, but the death toll from them is far lower than the ones from thermal or hydro powerplants. And technology has advanced to such a level, to eradicate the possibility of such accidents repeating. Nuclear waste disposal is the only issue now, but even for that now there are safer options.

[Wind_FURY]

Next week, these oil price hikes will come to take effect on our country. It's the highest it has been for this year, and I think I might have to drop the car for the mean time and just use my bike to work.

More exercise, good for the brain.

Electric vehicles are also not a thing here in the country, and we still have very vague and crude registration rules and guidelines on electric vehicles.

EVERYTHING will be expensive when the full set of inflation/probable hyper-inflation enters the economy. Now, Jerome Powell is convincing everyone that it’s only “transitory”. It’s NOT, but he will keep convincing the plebs.

I find it illogical that we have all this tech and advancements in the world yet we still are stuck with fossil fuels. There are tons of other energy sources to choose from yet we still insist drilling the earth and looking for some long dead plants/animals/whatever fossilized and extracting them for energy. Even if that's the case, I'm still happy that other parts of the world are already shifting away from traditional gas vehicles, and switching over to EVs. At the least, we are seeing some small changes, but in this day and age we should have shifted to EVs for a long time now.

The transistion is hard for the world economy to adjust.

[stompix]

Question on this since I can't find the answer, in the EU is electricity priced as 2 separate things on your bill or just 1.
In most of US you have delivery charges which are what it costs to keep the power lines up, the substations running, the distribution network, etc.

Different from country to country
Here we have a monthly service bill, the bill for the consumed kwh, the transport charges, and a government tax, and then the eco-tax, which is made out of a tax for the mix of energy, a carbon tax, a renewable tax, and then we have VAT on top of everything.
It is a pleasure to go through 5 or 6 pages of the pdf to see all of these.

In some countries, those are not detailed at all but it's more or less the same price structure.

It's great to show a chart that shows that country X had their power go up Y%. But without context it's just numbers without meaning.
Germany going up 20% or Estonia going up 19% means nothing if they just committed to massive infrastructure improvements that have nothing to do with the cost of generating power. Not saying that is what happened, just that I can't find any info on it.

Here is the cause for those 20%:
https://www.bloomberg.com/news/articles/2021-01-12/germany-paid-record-38-billion-for-green-power-growth-in-2020
As for Estonia, the same path of madness, how to become an importer from being a net exporter for two decades:
https://www.icis.com/explore/resources/news/2018/09/07/10257649/icis-power-perspective-estonia-will-close-619mw-of-oil-shale-generation-in-2019

And meanwhile, the barrel of oil has gone over 80$.
I'm sure the sacred spirits of the bison warriors are sleeping peacefully now, with keystone dead and food prices for descendants skyrocketing.

[Vaskiy]

The oil price hike is a big issue around the world. The major reason for this is not the oil price hike or something else. It is all about the mismanagement and the oil resource getting into the hands of specific list of people. Apart from this every country have majority of the revenue through oil industry. Through this the government try to make a big revenue in terms of taxation. If the governments make wise plans it can surely lower the tax and give the common people petrol at a much lower price. In my country in recent days to increase the usage of electric vehicles once again the price has been increased, even when people are protesting all around.