Ask Lemmy

I hope for another big push in public transport and renewable energie sources...but conservatives and gas lobbys hold power in germany soo...

people see strait closed and think of oil because of course there's a lot of oil going through it, but oil can be routed through pipelines outside gulf so impact on oil is less than that 20% commonly cited

the bigger impact is on gas, because it can't be transported that easily and it's closer to 40% of supply. because gas is so hard to transport you can try to avoid doing that, so it's turned into fertilizer and diesel and aluminum, whose transport is easier, and isn't as constrained as LNG transport. byproduct of gas mining is helium and it can't be mined on its own, and while valuable enough to be flown out of qatar supply stops when gas stops. gulf royals have seen that world tries to get rid of oil, so this energy intensive manufacture was intended as a sort of hedge or insurance, but this too stops without transport

so, yeah. things that can be expected to directly get more expensive are energy in general and gas in particular, plastics of all kinds, aluminum, nitrogen fertilizer and to some degree phosphorus fertilizer (uses sulfur as input). and everything that depends on them, which is broadly everything. the only winning move is not to play ie use renewables for energy. these chinese officials who backed renewables buildout are probably the most vindicated people in hemisphere

that said, you can make fertilizer from other fuels, and in other places too, so it's likely that it will "just" get more expensive, and lower nitrogen use might work about as well because many farmers overapply it. if you are a westerner i guess you might not see it hitting you tok hard, but in places like sudan that will be a problem

It's beyond my understanding, realistically, and perhaps that's for the best. I assume everything will just become radically pricier... but, hey, I'm in the West so at least I'm not getting bombed as well. 🙃

As most of the worlds transportation runs on oil, absolutely everything gets much more expensive. Some items that are effected more directly, like fertilizer and PCB boards, will get even more expensive. So food and technology gets double expensive and we can't forget capitalism and a constant need to increase profits, so more expensive. We can all probably watch grocery bill to raise on a weekly scale.

Absolutely everything will get much much more expensive. The gas prices rising that the people are currently complaining over, Is barely the beginning.

So strap in guys, it's about to get a lot worse.

I heard this sort of doom & gloom about the port closures and then nothing happened (at least nothing anywhere near the claims). I'll believe it when I see it. I don't believe any predictions bout economics anymore.

I'd say not optimal. It might even slightly inconvenience me.