Natural Gas, Electricity, Oil / Gas & Inflation- Nightmare Scenario

[ChiBitCTy]

We are in a nightmare scenario right now with as bad as it’s gotten with inflation, natural gas, electricity, and gas at the pump.  I have to imagine the economic impact this will make will be huge. My natural gas bill this month was $275. My place isn’t even that big. My electric bill will probably be $150-200 and I don’t use much electricity at all. I used to walk out of the grocery store each week having paid about $125, and now it’s closer to $175.  Luckily I have a gas efficient car and that’s not a big expenditure.  This shit is all adding up and out of hand.

 What do you guys think the economic impact will be? Are your rates up super high as well?

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[Poker Player]

What do you guys think the economic impact will be? Are your rates up super high as well?

The economic impact of the wars for the majority of the population is widespread impoverishment, but we have to keep in mind that the problem of inflation and rising energy prices was pre-war, only now it has been exacerbated. Moreover, as the economy is globally connected, even if we do not live in either of the two countries in conflict, we are affected. This will surely continue but at some point it will have to stop due to the rebound effect of low demand in the face of high prices, at least in some sectors. Hopefully the war will be over sometime soon as well.

In my particular case, some months ago I was promoted at work with a considerable pay raise, so I have not been affected so much by inflation, but as prices have been rising for the past months I do not feel as rich as when I was promoted but much better than people who live paycheck to paycheck.

[mocacinno]

Last time i went to the pump for diesel (wich i need to drive to work, i use about 6 ltrs/day just for driving to/from work), i payed > 2€/ltr. That's 12€/day just in diesel, just for going to work.

Gas and electricity are also booming, every couple of weeks it looks like the prices go up by x%.

[hugeblack]

We are now in a stage of uncertainty where we cannot know the repercussions of what will happen in the future.
Central banks are cautious in economic policies.
Oil prices have increased or may increase depending on what will happen in the future.
Therefore, the problem is now greater than energy, but may extend to the prices of basic resources.


Oil prices and food resources 2022

Source --> https://global-macro-monitor.com/2022/03/09/real-oil-prices-are-36-below/


Do not forget about the future repercussions, as replacing gas can lead to the use of coal, and thus increase heat emissions, which will increase the extremes of the atmosphere.

We do not forget that the unprecedented heat wave and drought in Canada during 2021 led to the damage of many crops and thus will affect the prices of agricultural products.

[cheezcarls]

We are in a nightmare scenario right now with as bad as it’s gotten with inflation, natural gas, electricity, and gas at the pump.  I have to imagine the economic impact this will make will be huge. My natural gas bill this month was $275. My place isn’t even that big. My electric bill will probably be $150-200 and I don’t use much electricity at all. I used to walk out of the grocery store each week having paid about $125, and now it’s closer to $175.  Luckily I have a gas efficient car and that’s not a big expenditure.  This shit is all adding up and out of hand.

 What do you guys think the economic impact will be? Are your rates up super high as well?

Right here in the Philippines, we’ve already felt the impact. The gas prices are going high (but there’s a recent price roll back for a limited amount of time) and some public utility vehicle drivers are already expressing their concern and demanding the Department of Transportation to increase the fare hike or else they will do some kind of a transport strike for a few days.

Good thing that I didn’t sell my e-scooter that I’ve bought sometime last year, but I continually charging it once a month. I only used it like 3x for the purpose of alternative transportation while under strict lockdown (because public utility vehicles are not allowed that time to operate).

The current minimum wage would not be enough for an average Filipino if the gas prices continue to rise, thus increasing transportation fees, etc.

[lovesmayfamilis]

Biden calls the increase in gas prices Putin's increase. This is really terrible, from the sanctions that countries impose on Russia, one can soon conclude that everyone will suffer. And Europe with America, not only Russia. The world is going crazy. But according to Biden, America will increase oil production several times more this year than oil was produced earlier.
Therefore, everyone should be patient, and wait a bit.

[TheNineClub]

We are in a nightmare scenario right now with as bad as it’s gotten with inflation, natural gas, electricity, and gas at the pump.  I have to imagine the economic impact this will make will be huge. My natural gas bill this month was $275. My place isn’t even that big. My electric bill will probably be $150-200 and I don’t use much electricity at all. I used to walk out of the grocery store each week having paid about $125, and now it’s closer to $175.  Luckily I have a gas efficient car and that’s not a big expenditure.  This shit is all adding up and out of hand.

 What do you guys think the economic impact will be? Are your rates up super high as well?

Yeah, we have been feeling the price surge as well. Although it's been going on longer than the recent crisis, this will definitely make it much worse. Not one to look at things solely pessimistically, but it's hard to imagine how 3 years of corona and war in Europe would not trigger a recession. Working from home really helps with saving up on gas and as we are exiting winter in Europe we will have to spend less on heating, but that, unfortunately, can only go as far as the next winter. So without panicking, we might buckle up for a couple of years of an Economic wild ride.

[Gozie51]

Biden calls the increase in gas prices Putin's increase. This is really terrible, from the sanctions that countries impose on Russia, one can soon conclude that everyone will suffer. And Europe with America, not only Russia. The world is going crazy. But according to Biden, America will increase oil production several times more this year than oil was produced earlier.
Therefore, everyone should be patient, and wait a bit.

This is surely to affect all continent because it looks like a chain of activities. EU is already going to be affected and that was why they very much reconsidered the sanctions against Russia as Russia when pushed further will cut gas supply to Germany to the rest of Europe and that will have effect to others. However, US is not the only country that has promised to increase production. Saudi Arabia has also done that and OPEC has decided that her member countries would increase production to help the world.

[jc12345]

Energy wise I think the problem will be more related to natural gas than oil. The middle eastern countries will just pump more oil and make more money in the process. Getting natural gas from another source is not that easy. It is going to be pain in the short term and in the medium term things will stabalize.

[Beerwizzard]

Gas and electricity are also booming, every couple of weeks it looks like the prices go up by x%.

Would be painful for countries that chose "green" energy.

Biden calls the increase in gas prices Putin's increase. This is really terrible, from the sanctions that countries impose on Russia, one can soon conclude that everyone will suffer. And Europe with America, not only Russia. The world is going crazy. But according to Biden, America will increase oil production several times more this year than oil was produced earlier.
Therefore, everyone should be patient, and wait a bit.

Heh, now we see a true beneficiary of the war.

Anyway, it is pretty clear that resource market would be rebuilt. The issue is that no one knows how much time it would take and all this time you would have different problems. Such conflicts may last for decades and by the time smart people from the government come and resolve the issue everyone else would loose quite much time / money / efforts etc.

[Vatimins]

     As per the meme: beers are now cheaper than gas! Drink! Don't drive! 🤣. Seriously though, here in my country, gas prices are going off the charts. Although most of the people here rely on motorcycles more since it gets through traffic easier and easy to park, it is still a burden for those who use motorcycles for a living. And there's even gon be another price rise in gasoline next week. Seems bicycles are the way to go now. 😅

[ajochems]

If you calculate the full expenses of us in this natural gas, electricity and Cooking gas.Actually their was huge difference now due to war. Their was huge change in the inflation of many country.It's better to use of Electrify vehicle which includes bike and Car.Because the price of Natural gas and petrol was depends on another country. But the electricity mostly control by the own country. And the usage of electricity was not huge.

[darkangel11]

Last time i went to the pump for diesel (wich i need to drive to work, i use about 6 ltrs/day just for driving to/from work), i payed > 2€/ltr. That's 12€/day just in diesel, just for going to work.

Gas and electricity are also booming, every couple of weeks it looks like the prices go up by x%.

Yea, I have 2 cars and the one I like to drive more is being used less and less because of the prices (it uses 10l/100km in town). I bought it because I already had an efficient car that my wife was using to drive to work and wanted something with more power that will handle even better in bad weather and the prices were just 1€/l so I thought to myself why not, we only live once. now it's twice that and going to be even higher if the governments don't lower taxes on fuel so I keep on borrowing wife's car... fck me

[nakamura12]

It is also the same here where the gas price increases and we have to buy a lot of gas and other important goods to store and when the time comes that the price is very high then we will have something stored safely. The worst part is that when the price of gas increased then it feels like the continuation of the situation were in where the gas price is abused after the typhoon rai hits. During that time many people doesn't have jobs and having hard time saving money for quite some time and slowly recover and yet the price increased again.

[verita1]

Wars bring lack of control, by increasing the price of oil and its derivatives, the cost of living tends to increase, causing inflation little by little we will be noticing it.
The war in Ukraine directly affects Europe, analysts warn that there could be an estimated inflation of 20% and a euro crisis. In the end, in wars, everyone loses, the best thing that could happen is that the aggression against Ukraine ceases and we have a new vision that peace should reign in all corners of the planet. But it is a lot to wait because selfishness never ends.
In view of an impending economic crisis and inflation in my household, we are spending less so we can save for an uncertain future.

[martha1]

It's not just the war causing this. prices of electricity and oil were rising steadily these past 6 months in the EU largely due to many activits calling for the "green energy" and blockading any new research or scanning of new oil fields so what did you expect

more "Green Energy" stuff: Germany shuts down half of its 6 nuclear reactors

[24Kt]

It's not just the war causing this. prices of electricity and oil were rising steadily these past 6 months in the EU largely due to many activits calling for the "green energy" and blockading any new research or scanning of new oil fields so what did you expect

more "Green Energy" stuff: Germany shuts down half of its 6 nuclear reactors

And now, this war added more reasons to elevate those prices. I think, this crisis will give sufferings to many around the globe. It is not only in the European area but the whole world will suffer. It is like a domino effect everywhere. I guess, we need to live with this situation and make the most what we can do to survive. After all, humans will always adopt the change whatever is happening around him.

[killerfrost]

Yes, we are gradually feeling the inflation from commodities in the near future. Although not desirable, perhaps we will still see the global food problem in the future. The developments are terrible, but perhaps we will not be able to change them and have to face them. I personally feel very fortunate to still be able to pay for the necessities of life, but many people don't have that luck.

[adaseb]

Yeah our electricity pretty much doubled since last year. For those with gas guzzlers or heavy SUV they are suffering whenever they are at the pumps. These last few days wherever I go there is always people complaining about the expensive gas prices. You can already see deals on many huge trucks and SUVs with big V8 engines.

What will all this lead to ? Well most likely a recession will follow which will quickly correct all of this. The price of oil will crash. The CPI will be negative most likely and real estate/cars will be cheaper since most people will be out of reach to buy one.