I saw that my local petrol station’s fuel price was much higher than when I last filled it. Sucks!
Rising gas prices have eroded the President’s approval ratings, with some 23 percent of Americans blaming him for the spike.
In his speech in Cushing, President Obama said that “producing more oil at home isn’t enough by itself to bring gas prices down” because “the price of oil will still be set by the global market.” Economists agree that this is true.
Questions: 1. It seems fuel costs are rising in the UK and USA. Why? Is there really a shortage etc? 2. Is being environmentally friendly just a political move? 3. Any fuel traders out there who have any comments?
Just because we are behind here in North America it doesn't mean that clean energy is a joke.
Have a look: (and this is 5 years ago)
Yes, I agree with you 100% that at the current costs for renewables it'll be long before renewables can become a significant part of our energy use. But it won't be long before oil prices/supply even worsen the energy crisis.
Anyway, my point was being environmentally friendly is not a political move. It is definitely used as a political card but that doesn't make the issue a scam.
FACT: “According to collated data from the NASA Marshall Space Flight Center and the University of Illinois, Arctic ice extent was 30 per cent greater on August 11, 2008 than it was on the August 12, 2007. This is a conservative estimate based on the map projection.”
http://cache.ohinternet.com/images/thumb/7/73/JeanLucPicardFacepalm.jpg…
Actually, we have already proven global warming to be true.
FACT: "Since the early 20th century, Earth's average surface temperature has increased by about 0.8 °C (1.4 °F), with about two thirds of the increase occurring since 1980.2 Warming of the climate system is unequivocal, and scientists are more than 90% certain that most of it is caused by increasing concentrations of greenhouse gases produced by human activities such as deforestation and the burning of fossil fuels.345[6] These findings are recognized by the national science academies of all major industrialized nations.7a"
Clean energy is the future. In 30 years fossil fuels will be just that, fossils.
double post
That's a single data point! Look at the whole big picture: (the single data point that you're talking about can also be seen).
That said, I didn't say anything about global warming...I thought your point was that clean energy is a joke.
Thanks for ignoring the beautiful chart I posted and restating that global warming doesn't exist ;)
Now, I worked as an engineer in the energy industry and I absolutely agree with you that there's A LOT of political/lobbyist pushback against clean energy. That doesn't mean that clean energy is useless. There are a lot of other technical (engineering wise) concerns that are associated with clean energy that I simply don't want to get into. So yes, there are obstacles.
Realistically, clean energy will never be as big in North America as it is in the EU because of exactly the political power of oil companies. The next best thing is definitely natural gas, no argument there.
Also, the world is cleaner BECAUSE people/companies started becoming more environmentally friendly. That said, in the U.S most people didn't CHOOSE to be more environmentally friendly. They were FORCED to be due to the skyrocketing oil prices.
I'd reckon the three options I stated mean a lot more than the "political power of oil companies".
I agree that people were forced to change their energy consumption. I just hope that they are not naive enough to think that nuclear power, clean coal, and natgas, are the devil and solar panels are the answer. Who knows, maybe in 100 years when all of our natural resources are just about gone we will have come up with a cheap, clean solution to all of our problems. Not sure if you're in the U.S., but do you think congress will eventually allow natural gas to become a prevalent source of energy? I know that other countries already use it a lot.
"On a long enough time line, the survival rate for everyone drops to zero."
Eventually, they'll have to (or stay in the dark). And keep in mind that more and more big oil companies are putting crazy money in exploration and extraction of natgas in the U.S. I know Exxon, BHP, and Shell have acquired nat gas exploration companies in the U.S. These boys are in it to sell energy and they will use their lobbyist to their fullest when the time is right.
That said, the main issue with nat gas becoming a prevalent source of energy is that the production capacity in the U.S will not be able to keep up with the consumption. Whole other issue.
We're already producing more than we are consuming right now and we aren't even trying. Companies like Chesapeake are halting production and moving more toward liquid gas. I'm not saying natgas should be as prevalent as petro, but it would be nice to see it get at least 30% of the market.
What did it for me was the dip in the 1973-1974 CO2 graphs. That was the only year the world economy consumed less fossil fuels, and that was the only year that atmospheric CO2 dipped.
Is there a correlation between atmospheric carbon and higher temperatures? I'm not sure. But we are changing the atmosphere.
Of course, as an engineer, I believe cheap, clean nuclear, not bankrupt toxic PV solar, is the solution.
Wind is fairly cost competitive and I'd like to see more of it.
As stated earlier, natural gas is the future of alternative energy. ExxonMobil paid $41 billion for XTO Energy, clearly implying that the world's largest public E&P company is betting on increased demand in natural gas. There are many good reasons for this, but the most important one is that it breaks our reliance on OPEC. North America is the Saudi Arabia of natural gas, especially with the discovery of shale gas in Ontario/Calgary and Marcellus Shale in upstate NY. The political factors are definitely in favor of increased natural gas demand in the next 25-30 years.
Solar Power is a viable option only because of government subsidies. Even then, it's extremely costly and inefficient. The same could probably be said for wind, but I'm not positive on this. Nuclear Power represents a promising Alternative Energy source, but every country and environmental group displays the NIMBY Effect (not in my backyard). France and Germany have the right idea here. NIMBY is even more prevalent after the Fukushima Incident. All in all, don't anticipate cars to have solar power roofs that run engines. Natural gas is the future.
I am not sure we are still on point about oil prices going up or down, so I'll just make a couple of comments.
1) A few years ago, I rebuilt my home in Long Island NY. I used all "green products". I put solar panels, collected rain water, used dual flush toilets, a beautiful very efficient wood burning stove, all highly efficient appliances, etc. (YES, I am a freak).
I paid back my solar investment in one year, lucky (or smart) to do it at a time when fuel prices began a strong upward climb. Net net, the total cost of competely running my home, including heat and A/C, was a bit over $6.00 a month, or the fee charged to me by the local utility company for the priviledge of allowing me to have solar and stay on the grid.
2) re solar warming: Last year, I toured the patagonia, visiting many glaciers. I traveled as far south as Cape Horn. Did I say glaciers? Sorry I meant to say bare spots were glaciers once were. Glaciers that I had previously seen. Oh well, maybe it is just a temporary warming, or wait, is it warning?
Why don't countries get together and build a place that makes renewable energy (through wind etc)? (e.g. they made a land in Dubai which was then sold in parts for millions I believe to people like David Beckham).
Also - I notice there are 2-3 pence differences within london at Petrol Stations. Why?
Very interesting video btw - thanks for that post. Do you have more? Please PM me.
The power demand is in cities and metropolitan areas that are far away from the wide swaths of land that you could build wind farms or solar renewable project. It also costs significantly to transmit (wheel) that power and you'll suffer large transmission losses.
Petrol stations price their product based on their supplier contracts
I'm not arguing the merits of global warming. No incentive to develop clean energy? How about the fact we are energy dependent on oil and at the mercy of crude prices. Doesn't make sense to develop and use nat gas instead of crude huh? Read this report then get back to me....
https://ir.citi.com/xfqo2sWW6IfKHcQR0rhlFBzftwsPXOCpIE2I2lLg407%2FzDEMM…
Gas Prices Up? (Originally Posted: 10/14/2010)
http://fuelfix.com/moreenergynews/2010/10/13/epa-expected-to-green-ligh…
My dream of green energy will slowly become a possibility as the dollar continues to weaken pared with the ever increasing price of commodities
Big news comes in Dec when we find out if the govt passes the credits.
Gas Prices (Originally Posted: 07/07/2011)
How can the Government pass laws that allow them to excessively tax foreign luxury car companies based on mpg? If I want to buy a sick Porsche or Range Rover i don't want to pay extra because the government can't compete with them. Eventually they might choose not to export to America leaving us to drive boring plain cars like the South Koreans are forced to do. There you are cool if you drive a pink car(Yes, somehow that made front page of the WSJ).
THOUGHTS?.....
I ride a pink tricycle, i never buy gas
You´d better do or you get raided
http://cdn.screenrant.com/wp-content/uploads/Rango-Review.jpg
Is this what he drives?
Gas Prices: Wall Street to Blame? (Originally Posted: 02/25/2012)
As we all know gas prices have gone up lately.The middle eastern turmoil has caused the trouble and threatening to raises prices/cut off supply increasing prices. But it is wall street causing the daily upticks in oil prices. And that poses the question: Is Wall Street at least PARTLY to blame for the rise of gas prices at the pump?
FED monetary policy.
Inflation, War Speculation, Emerging Market Growing Demand, Stagnant Supply
Above is why. Potential Israeli attack on Iran, U.S. building up forces in the Straight of Hormuz area is a primary factor along with China and India demand increasing at an exponential pace.
U.S. no longer is the benchmark in gas/energy pricing, it is now the EMEA.
You mean is Wall Street properly pricing the risk associated with producing gasoline? Every futures contract has somebody who is long that contract and short that contract...it's zero sum, so I doubt there's much collusion here.
Tupac: contango, it's not contract holders playing the game but oil companies.
When enough people use contango strategies it just flattens out the curve, driving down prices in the long run. Short term pain long term gain for consumers, balancing the effect on consumers out.
IT'S GOLDMAN SACHS FAULT!!!
how the fuck is this Wall Street's fault?
Right now, given what's going in Iran, it's simple supply and demand
Here is a research report done by DB on long-term oil supplies/prices.
If you notice at the bottom, they actually underestimated the price of oil in 2012.
http://www.odac-info.org/sites/default/files/The%20Peak%20Oil%20Market…
Enim aut hic eius dicta modi non. Quis quo quis repellendus et magnam. Ea consequatur voluptatem est ipsam.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Laborum impedit magnam dolorem molestias ut doloribus. Ducimus consequatur dolores quasi facere numquam. Accusantium tempora quidem veniam magnam autem consequatur ab voluptatum. Et iusto quo dolores sit sunt magnam enim reprehenderit. Ipsa quia ab tempore et suscipit quas.
Eaque aut vel et ut corporis. Magnam vitae ipsa quod est quasi illo suscipit. Enim ipsum a voluptatibus quam esse totam est. Accusamus ullam ut quo.
Doloremque itaque cupiditate aut aperiam beatae. Expedita quasi et qui impedit corporis. Aut nulla nulla aspernatur ratione.
Adipisci ea quo sit nulla qui. Hic quia amet veniam et in perspiciatis. At labore facilis blanditiis numquam corporis iste repellendus. Sint temporibus nihil sunt officiis voluptate architecto.
Sit odit accusamus aut asperiores. Modi molestiae tempora laudantium amet ut mollitia quibusdam. Quas amet ut accusamus dicta inventore. Sint provident nihil quisquam aut vero est. Quis voluptatibus aut sunt sed id fuga. Voluptas qui dolore maxime consequatur quia tempore. Qui quo impedit iure non quo fuga perferendis.