Was there a deliberate plan to keep the price of oil low?

[sleepfirefly]

Renewable energy sources are very expensive compared to oil, which is why we are not seeing its widespread use yet. Oil and gas are the most widely used in the communication sector, is it possible to replace everything in this communication sector with renewable energy sources?

Oil and gas are the only energy sources that are readily available and relatively cheap, but they are very valuable resources for the world. Especially we are becoming more aware of the current oil price where the market is directly related to the volatility of oil. Economic policies are being affected and inflation is under threat. Although some countries are talking about renewable energy sources, they are not yet fully successful.

even individually, it’s hard to buy renewable energy sources because it’s really expensive even though yes it will be worth it but people do not have enough money to be paying for solar panels and such

[Son Of Blockchain (SOB)]

The ongoing war in the Middle East have revealed one of the greatest secret the West has kept intact and an agender they have pushed over the years and that is that oil was going to be worthless and that renewable energy is the future. Many countries including France were at the front of the campaign against fossil fuel which was why they plan to stop the production of cars that run on petroleum products siting environmental concerns. Today we have seen how valuable oil still remain despite the noise and campaign against oil

This now begs the question,  was there a deliberate plan to make oil very cheap? Why are country no longer relying on their precious renewable energies now that their is war in the oil rich Middle East? Why are prices of everyone other thing skyrocketing due to rise in oil price?

I don't think it was deliberately, war can break out anywhere and it's unfortunate that it happened in a middle east country that's the largest producer and suppliers of oil thereby making the price og oil to go higher and also affected the prices of others stuffs. Iran blocked the supply of oil to countries that rely on them, that's what cause be costly.
 This war is an opportunity for renewal energy companies to sell their products but then petroleum is still very relevant and the world is yet to get past it that's why the price of oil increased globally instead of decreasing.

[Mate2237]

This whole fight going on in the middle east Left for me is all about oil and nothing more.for long there has been interest that in the oil sector, by some country that maybe considered powerful and  they use well calculated plans to make sure that they have control of the oil sector in the world. So they decides what will happen in the oil industry. Am not particularly surprised that the Iran is been fired with missiles all in the name nuclear weapons.


The real reason is simply we got to control the oil of Iran because, the backbone of Iran is built around Oil. One of the country in the world that contributes largest to air pollution is the united states due to it's industry base so thesame country can't turnaround and begins to lecture people about the environment. I believe that this who military actions against Iran is a well cut out plan to regulate the oils price by some powerful countries.

[DrBeer]

This whole fight going on in the middle east Left for me is all about oil and nothing more.for long there has been interest that in the oil sector, by some country that maybe considered powerful and  they use well calculated plans to make sure that they have control of the oil sector in the world. So they decides what will happen in the oil industry. Am not particularly surprised that the Iran is been fired with missiles all in the name nuclear weapons.


The real reason is simply we got to control the oil of Iran because, the backbone of Iran is built around Oil. One of the country in the world that contributes largest to air pollution is the united states due to it's industry base so thesame country can't turnaround and begins to lecture people about the environment. I believe that this who military actions against Iran is a well cut out plan to regulate the oils price by some powerful countries.

Instead of words, here are some statistics:

Iran’s oil production
Iran produces: 3–3.5 million barrels per day (taking into account sanctions and restrictions)
Global production:100 million barrels per day
Iran’s share: 3–3.5% of global production

Oil reserves
Iran’s proven reserves:155–160 billion barrels
Global proven reserves: 1.7–1.75 trillion barrels
Iran’s share: 9–10% of global reserves

In other words, Iran does not possess STRATEGIC reserves and is not a leader in the industry. I would say that your assumption applies to Venezuela, but certainly not to Iran

[Minor Miner]

This whole fight going on in the middle east Left for me is all about oil and nothing more.for long there has been interest that in the oil sector, by some country that maybe considered powerful and  they use well calculated plans to make sure that they have control of the oil sector in the world. So they decides what will happen in the oil industry. Am not particularly surprised that the Iran is been fired with missiles all in the name nuclear weapons.


The real reason is simply we got to control the oil of Iran because, the backbone of Iran is built around Oil. One of the country in the world that contributes largest to air pollution is the united states due to it's industry base so thesame country can't turnaround and begins to lecture people about the environment. I believe that this who military actions against Iran is a well cut out plan to regulate the oils price by some powerful countries.

Instead of words, here are some statistics:

Iran’s oil production
Iran produces: 3–3.5 million barrels per day (taking into account sanctions and restrictions)
Global production:100 million barrels per day
Iran’s share: 3–3.5% of global production

Oil reserves
Iran’s proven reserves:155–160 billion barrels
Global proven reserves: 1.7–1.75 trillion barrels
Iran’s share: 9–10% of global reserves

In other words, Iran does not possess STRATEGIC reserves and is not a leader in the industry. I would say that your assumption applies to Venezuela, but certainly not to Iran

The conflict in the Middle East revolves around oil, but not because the United States want to seize Iran's oil. Another potential reason is to undermine the rise of China as well as the petroYuan system that Iran and China are promoting.

As always, whenever the United States feel its petrodollar system is threatened. They will not hesitate to create conflict or instability to maintain the position of the USD, no matter the cost.

Venezuela and Iran are not only supplier of cheap oil but also allies of China. The fact that the United States is targeting these two countries is probably not just a coincidence.

[Uhwuchukwu53]

This whole fight going on in the middle east Left for me is all about oil and nothing more.for long there has been interest that in the oil sector, by some country that maybe considered powerful and  they use well calculated plans to make sure that they have control of the oil sector in the world. So they decides what will happen in the oil industry. Am not particularly surprised that the Iran is been fired with missiles all in the name nuclear weapons.


The real reason is simply we got to control the oil of Iran because, the backbone of Iran is built around Oil. One of the country in the world that contributes largest to air pollution is the united states due to it's industry base so thesame country can't turnaround and begins to lecture people about the environment. I believe that this who military actions against Iran is a well cut out plan to regulate the oils price by some powerful countries.

I may agree with you partially though stand to be corrected on my opinion on this, US may claimed to be drag into the war resulted by not having their deal or negotiable table in accordance to what the need from Iran as they are ask to stop nuclear weapons production, but in another angle I see them factoring out the rise of China in various ways and seen Iran as the major source of energy that such force's may affect them in future where they will be overthrow by their position making them to crumble the economy that is powering such people and possibly be a part or partial decision maker of such economy. Two things is in mind of US, retaining their stand by elimination any threat against their position as world power either stopping the nation economy growth directly or indirectly and china not exempted on such threat and Iran been a source that empowered them in resources stand to be the roots of target allegedly. Even if the oil is another interest but can't overshadow the primary key of not allowing any to take dominance before their position.

[justdimin]

The conflict in the Middle East revolves around oil, but not because the United States want to seize Iran's oil. Another potential reason is to undermine the rise of China as well as the petroYuan system that Iran and China are promoting.

As always, whenever the United States feel its petrodollar system is threatened. They will not hesitate to create conflict or instability to maintain the position of the USD, no matter the cost.

Venezuela and Iran are not only supplier of cheap oil but also allies of China. The fact that the United States is targeting these two countries is probably not just a coincidence.

USA not wanting the oil at Iran to go to China, is basically a way of saying that they want that oil to go to them. I mean sure Europe which is normally an ally could also get it, but it's either them or their allies, and not China, which means USA wants to control it.

Another reason for this war is Israel, they always said that Iran had nuclear weapon capabilities or at least working on it and very close, they said this for 30 years, it was not true 30 years ago, and it was not true now, just like how Iraq had "weapons of mass destruction" which turned out to be wrong. Same is going here, if USA wants to attack, they do not need a reason, they make a up a reason, and make their voters believe that as real, and a decade later they say they were wrong, and act as if that was okay.

[Crypto_Timothy]

The transition was not meant to be immediate, the move to green energy was something that was projected for the future, and it was supposed to be a gradual phase and not something that was going to happen all of a sudden that people never planned for that's why it's looking like this restraint in oil movement caught people unaware. Let's say 100 years from now the reliance on oil won't be that much that's just the truth, and with what's happening right now, I think it will even accelerate the move into greener energy, so that should there be war in the future people won't be held hostage like we are experiencing today.

Yea, the transition was meant to take years and that is probably because alot of the Big giants still preferred oil so it was definitely going to take time before we went green. The war is definitely exposing or rather i would say it is allowing the public see reality for the first time in a long time. To some of the Big giants they can go green publicly but you see that oil money, i dont think anyone is really ready to let it go just like that and i also agree with you, as this war continues the needs to shift further to green energy will increase amongst countries that will suffer from the crisis and once the world sees innovation at mass scale, the rest of the world will adopt but still i will say some persons and some countries would not want to leave this oil money.

[viljy]

~
This now begs the question,  was there a deliberate plan to make oil very cheap? Why are country no longer relying on their precious renewable energies now that their is war in the oil rich Middle East? Why are prices of everyone other thing skyrocketing due to rise in oil price?

Conversely. A repeat of the 1973 scenario is likely, when the price of oil increased by about 4 times. Well, first of all, the transition to electric transport will never happen at a low oil price - this is elementary logic. Green energy is absolutely unprofitable at a low oil price. Governments of many countries will only accept the risks of nuclear energy if the oil price is high.

There is another important consequence of the rising oil price. When oil is expensive, all goods become more expensive as a result (the most obvious reason is expensive logistics). When everything is expensive, it is essentially inflation. Inflation reduces debts. The inflation of the dollar reduces the national debt of the United States, and also reduces the cost of servicing it. But this does not work directly, but works in such a way that dollar inflation is "exported" to other countries that are part of the dollar currency system.

[dansus021]

~SNIP~

Ukraine is currently neither producing nor refining its own oil, as Russia-a terrorist state-has either destroyed the production and refining facilities or seized those sites. We import petroleum products. Prices have risen by about 15% compared to the price before the Israeli/U.S. operation in Iran. But the government has introduced some compensation mechanisms, such as the “national cashback” program, which allows for a refund of up to 10% of the cost of gasoline.

Regarding oil reserves-and the Strait of Hormuz. Yes, the reserves discovered to date that are suitable for extraction are estimated to last until 2050. Oil won’t run out after that; it will simply become more expensive and difficult to extract.

And regarding the Strait of Hormuz-up to 20% (+/- depending on the situation) of the world’s oil volume passes through the Strait of Hormuz. Approximately 20–25% of this volume goes to... China, essentially the largest consumer. So China is a key player facing problems, which is why Iran quickly decided to play the “selective justice” card

But, judging by all accounts, the countries of the Persian region have decided not only to increase oil supplies through existing pipelines but also to expand their number, realizing that if the current Iranian regime remains in place, the terror against its neighbors will continue, including the blockage of the Strait of Hormuz.

Oh so you are from Ukraine Im sorry to hear that, so Russia basically destory all refinery in your country? Same here in Indonesia basic gasoline is heavily subsidized but like other governments, subsidizing is hurt the country itself for the long run. So in theory you already seen price high even before israel iran war. If russia destroy basically your own oil where did your oil come from?

I also hear the news that any tanker ship should pay in yuan to ending petrodollar, I believe after this war end those Middle east country gonna thing to bypass the hormuz strait.  

[EarnOnVictor]

The ongoing war in the Middle East have revealed one of the greatest secret the West has kept intact and an agender they have pushed over the years and that is that oil was going to be worthless and that renewable energy is the future.

Don't tell me you are one of those who push wrong narratives online. Everyone wants to fault the West, even as the West is trying to make the world a better place. Though they have their excesses as well.

Is it a crime to push for something that will help our climate? Are they not doing it with track record of renewable energy and no/low emission engines. The rate they are even moving is commendable. But of course, they will only lead, but most of the world will delay as they follow. This is a project of centuries, so you shouldn't expect a miracle of fading oil reliance in a day.

[Akbarkoe]

Maybe this can be our choice in the future, Japan has made a breakthrough.

‘Fuel made from air': Japan achieved carbon-neutral fuel bre ..

Read more at:
http://timesofindia.indiatimes.com/articleshow/129901789.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

But this project is temporarily suspended because it is still in technological and economic studies as written there, but if this succeeds we will escape from fuel oil which is very dependent on other countries and not many countries have oil, and oil has limitations, what is in the earth will definitely run out if it continues to be used, and of course if this succeeds it will reduce world fuel prices because there will be more alternatives to meet energy.

[DrBeer]

This whole fight going on in the middle east Left for me is all about oil and nothing more.for long there has been interest that in the oil sector, by some country that maybe considered powerful and  they use well calculated plans to make sure that they have control of the oil sector in the world. So they decides what will happen in the oil industry. Am not particularly surprised that the Iran is been fired with missiles all in the name nuclear weapons.


The real reason is simply we got to control the oil of Iran because, the backbone of Iran is built around Oil. One of the country in the world that contributes largest to air pollution is the united states due to it's industry base so thesame country can't turnaround and begins to lecture people about the environment. I believe that this who military actions against Iran is a well cut out plan to regulate the oils price by some powerful countries.

Instead of words, here are some statistics:

Iran’s oil production
Iran produces: 3–3.5 million barrels per day (taking into account sanctions and restrictions)
Global production:100 million barrels per day
Iran’s share: 3–3.5% of global production

Oil reserves
Iran’s proven reserves:155–160 billion barrels
Global proven reserves: 1.7–1.75 trillion barrels
Iran’s share: 9–10% of global reserves

In other words, Iran does not possess STRATEGIC reserves and is not a leader in the industry. I would say that your assumption applies to Venezuela, but certainly not to Iran

The conflict in the Middle East revolves around oil, but not because the United States want to seize Iran's oil. Another potential reason is to undermine the rise of China as well as the petroYuan system that Iran and China are promoting.

As always, whenever the United States feel its petrodollar system is threatened. They will not hesitate to create conflict or instability to maintain the position of the USD, no matter the cost.

Venezuela and Iran are not only supplier of cheap oil but also allies of China. The fact that the United States is targeting these two countries is probably not just a coincidence.

I’m sorry, but that’s a misconception. The oil crisis was a CONSEQUENCE of this military operation launched against the Iranian REGIME—not against Iran, oil, or China. China has also become a hostage to the situation, having ties with a pariah regime and buying oil from it. But it’s no big deal; the situation will sort itself out.
 And the fairy tales about the “petro-yuan,” or the yuan as an alternative to the dollar, only work where other currencies simply cannot be used, so this isn’t a benefit but rather China forcing its yuan slaves.
And by the way, this does not bode well for countries that abandon the free market and hand over their economies to China and the yuan. There are plenty of examples—Sri Lanka (with massive debts deliberately created by China), Russia, and North Korea—China’s lapdogs, while Russia is essentially China’s raw materials appendage.

Let me remind you—back in 2024–2025, some BRICS countries were freaking out about the “end of the dollar” and a “new BRICS currency,” which China wanted to make the yuan. Remember how that all ended? Nothing! A total flop

[gwapako]

I believe there is no conspiracy in keeping oil prices low. Oil is somewhat political. Geopolitics has a big impact in what is happening with the prices of goods and commodities.  Let us just hope that they will end the war or tension so all can thrive.

[Oluwa-btc]

Don't tell me you are one of those who push wrong narratives online. Everyone wants to fault the West, even as the West is trying to make the world a better place. Though they have their excesses as well.

Is it a crime to push for something that will help our climate? Are they not doing it with track record of renewable energy and no/low emission engines. The rate they are even moving is commendable. But of course, they will only lead, but most of the world will delay as they follow. This is a project of centuries, so you shouldn't expect a miracle of fading oil reliance in a day.

The west is making the world a better place?! Like, what the actual fvck?!! How have they made the world a better place?! Could it be by endless wars,  building systems to over depend on them?! Is it by bombing people with oil and natural resources?! Could is by by bullying and aggression?! Could it be by funding an apartheid,  funding a genocide?! Could it be the Epstein class killing, raping and eating babies, these barbaric lifestyle and world crime is your definition for making the world a better place?!

I have no surprises, a Nigerian Trumper with emotions looking for the green card will kiss ass and also say all sort of bullshit. Never take the words of a Nigerian Trumper seriously. Pathetic creatures!!

[jostorres]

~
This now begs the question,  was there a deliberate plan to make oil very cheap? Why are country no longer relying on their precious renewable energies now that their is war in the oil rich Middle East? Why are prices of everyone other thing skyrocketing due to rise in oil price?

Conversely. A repeat of the 1973 scenario is likely, when the price of oil increased by about 4 times. Well, first of all, the transition to electric transport will never happen at a low oil price - this is elementary logic. Green energy is absolutely unprofitable at a low oil price. Governments of many countries will only accept the risks of nuclear energy if the oil price is high.

There is another important consequence of the rising oil price. When oil is expensive, all goods become more expensive as a result (the most obvious reason is expensive logistics). When everything is expensive, it is essentially inflation. Inflation reduces debts. The inflation of the dollar reduces the national debt of the United States, and also reduces the cost of servicing it. But this does not work directly, but works in such a way that dollar inflation is "exported" to other countries that are part of the dollar currency system.

I am sure that 73 type of situation is unlikely, that would require the price of oil to go above 300, even 400 dollars, that's not going to happen. While it might go up, it is not going to go up that much, even 200 dollars is unlikely. It can break over 100, even go above 120, but that's about all it can go up to, then there will be a lot more oil going from everywhere and production will increase like crazy.

Right now there is no reason why all oil fields should pump at %100 and reinvest all the profits back to pumping more everywhere, they were making decent steady income, but if they see a chance to sell at 120, they would pump at hundred precent and pumpo from every hole they can find.

[Josefjix]

I believe there is no conspiracy in keeping oil prices low. Oil is somewhat political. Geopolitics has a big impact in what is happening with the prices of goods and commodities.  Let us just hope that they will end the war or tension so all can thrive.

No war is ending soon, and that Iran nor USA will surrender to each other. What would matter here is the ability to adjust the oil system for minimal usage. The newest alternative method of using oil is going to emerge and that those who adapt to the system will benefit and those who is still finding it hard to adapt will suffer.

The price of oil is not going backwards, the new price has emerge and will never drop again. Be used to it and stop complaining.

[FanEagle]

The west is making the world a better place?! Like, what the actual fvck?!! How have they made the world a better place?! Could it be by endless wars,  building systems to over depend on them?! Is it by bombing people with oil and natural resources?! Could is by by bullying and aggression?! Could it be by funding an apartheid,  funding a genocide?! Could it be the Epstein class killing, raping and eating babies, these barbaric lifestyle and world crime is your definition for making the world a better place?!

I have no surprises, a Nigerian Trumper with emotions looking for the green card will kiss ass and also say all sort of bullshit. Never take the words of a Nigerian Trumper seriously. Pathetic creatures!!

Yeah unfortunately a lot of westerners think like that. USA specifically, they think that by doing this at Iran, they are actually helping someone, who? We do not know. They are just brainwashed into thinking that they "should" be doing this, not realizing that we do not actually require or even wish for something like this. They end up saying "well if we do not, then they will nuke you!!" and not realize that, nope nobody would.

I do wish that they would stop, what they did with Ukraine was fine, send gadgets and money etc, if they want to meddle, but never actually bomb places, nobody asked them to do that, never did, never will. Unfortunately they think they are the knight that will save the world, when they are just brainwashed idiots.

[sunsilk]

Just like the effect of the pandemic, there's a new norm. And this time, we're also going to have a new norm.

New norm in a way that the price of the oil that we'll deal everyday has increased and that's basically for the countries who have been affected by the closing of the Strait of Hormuz.

The price of oil is not going backwards, the new price has emerge and will never drop again. Be used to it and stop complaining.

This is true, we need to get used to it and that's why there's no coming back for cheaper oil prices that comes from the Gulf region.