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Crude has climbed back toward $110, but the bigger problem may be further down the supply chain. Tight diesel inventories, refinery disruptions and changing trade routes are forcing Western governments to balance energy security against sanctions, affordability and supply.
Full story : https://realnarrativenews.com/editorial/oil-110-diesel-shortage-western-energy-policy/
Oil isn't used only for transportation, you know. Fertilizers. Plastics. Paints. Medicine. All kinds of stuff depends on it too. The oil insdustry is obscenely rich and can weather this storm just fine, "we the people" will be the ones suffering with high inflation
Sure, but that’s not gonna change either. Is anything, more people switching to EV or less fuel intensive transportation (including the trucking industry), then oil drops in price and those other uses also drop in price.
Which is the more reason to stop using it as fuel. The moment you drop oil as a fuel, oil demand will go down by a lot and, with that, prices, making all the products from oil that are not fuel cheaper.
So yeah, keep going up, little line. We need oil at ridiculous high prices to force the green transition.
Which is why it's important to transition to more of a focus making those things with it instead of just burning it as fuel.
Yeah I'd like that to be drastically restructured as well. Get off the petrochemical teat completely.