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(Yahoo)   Oil prices skyrocket. Not to worry, they will also crater. Not to worry, crater is up there on a meteor. Not to worry, meteor is hurtling towards earth, will end up cratering. Not to worry, the material kicked up from that crater will skyrocket   (ca.finance.yahoo.com) divider line
    More: Obvious, European Union, Petroleum, Macroeconomics, West Texas Intermediate, US gasoline futures, Benchmark, Monday, Consumption  
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499 clicks; posted to Business » on 16 May 2022 at 3:40 PM (6 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



21 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-05-16 2:19:26 PM  
Oil prices rise on the news that they weren't rising as fast as gas prices because fark you
 
2022-05-16 2:30:30 PM  
Thanks, Obama
 
2022-05-16 3:52:29 PM  

cretinbob: Thanks, Obama


Fark user imageView Full Size
 
2022-05-16 3:54:25 PM  
I'm not worried.  I travel exclusively by sail car.
 
2022-05-16 3:58:12 PM  
I just looked into plane tickets for a trip to Alaska this July. $3,000 minimum for my wife and I to fly.  No thanks.  I understand that airlines exist to make money transporting people around the world, so I won't be upset.  That's just unaffordable for me.  Maybe a "staycation" in July is in my future.  Oh well.
 
2022-05-16 4:25:37 PM  
Anyone who is a pilot might biatch, but really shouldn't be surprised. All you have to do is buy fuel for a vehicle that burns 20-80 gallons per hour and you pretty much become immune to car fuel price shock.

I remember paying $4.60/gal for 220 gallons of Jet-A with PRIST.  Tell me again how car fuel is expensive. How about $5.25/gal for 80 gallons of 100LL.

At the time people were complaining about paying $3/gal for unleaded. I laughed.
 
2022-05-16 4:40:03 PM  
Go ahead, Oil Companies.  Drop the price.  Drop 'em again.  Drop 'em as low as you  want.  We're not gonna buy.  Because you need to be taught a lesson.  We're all going to buy bicycles, and take the bus everywhere.  Just to teach you.
 
2022-05-16 4:57:10 PM  

Billy Liar: Go ahead, Oil Companies.  Drop the price.  Drop 'em again.  Drop 'em as low as you  want.  We're not gonna buy.  Because you need to be taught a lesson.  We're all going to buy bicycles, and take the bus everywhere.  Just to teach you.


I feel vindicated.
 
2022-05-16 5:01:09 PM  

Billy Liar: Go ahead, Oil Companies.  Drop the price.  Drop 'em again.  Drop 'em as low as you  want.  We're not gonna buy.  Because you need to be taught a lesson.  We're all going to buy bicycles, and take the bus everywhere.  Just to teach you.


c.tenor.comView Full Size


We're addicted and we like be addicted, more or less.
 
2022-05-16 5:04:57 PM  
Conservative Supply & Demand principles:

Demand is high, we have to raise prices to meet supply!

Demand is low, we have to raise prices to make up for the shortfall!
 
2022-05-16 5:36:37 PM  
A second barrel has hit the anus?
 
2022-05-16 5:41:42 PM  

wingnut396: Billy Liar: Go ahead, Oil Companies.  Drop the price.  Drop 'em again.  Drop 'em as low as you  want.  We're not gonna buy.  Because you need to be taught a lesson.  We're all going to buy bicycles, and take the bus everywhere.  Just to teach you.

[c.tenor.com image 498x276] [View Full Size image _x_]

We're addicted and we like be addicted, more or less.


We're addicted to energy.  Good thing that we're right on the cusp of switching our transportation to something that can be sourced from numerous different fuels.  If the price of some of those fuels rise too high, they risk being replaced by something cheaper, and the electrons keep flowing.
 
2022-05-16 6:19:45 PM  
People think oil is infinite and you can just "drill a well", neither of which has been true for decades. Fracking successfully brought back production but a) it costs a ton so a lot of companies swiftly went under and b) each of those wells declines much more quickly than a conventional well.

Some of the oil major say it would take prices of consistently $140 a barrel to justify pushing production - but the economy can't handle that price without contracting and causing it to fall. That's what peaking production looks like, there is theoretically oil in the arctic or deep offshore or locked in shale but the cost to produce it is too high.

Anyways, if instead of messing around 20 years ago, California had been allowed to keep their zero-emissions mandate, electric cars would be cheaper and more available. Or we could have built mass transit. Lots of options, and we went with "buy more Canyoneros".
 
2022-05-16 6:50:47 PM  

adamatari: Anyways, if instead of messing around 20 years ago, California had been allowed to keep their zero-emissions mandate, electric cars would be cheaper and more available.


Maybe.  There were several big reasons why the electric car stalled after the EV1.  There is also good reason to believe that California's ZEV market would have been flooded with lackluster compliance vehicles.

A big one was that Ovonics, which held several key patents for NiMH vehicle batteries, ended up with Chevron having a controlling interest in the company.  They sabotaged the nascent NiMH EV market.  It took a few years for Li-ion batteries to fill the gap.

Another was that Japan turned their attention toward hydrogen fuel-cell vehicles, which could have otherwise provided a significant chunk of battery R&D.

What probably would have made more sense in hind-sight would have been a push for ULEVs, which could have been attained through ultra efficient design or partial electrification.  Coming up with 1 to 15 kWh of battery capacity for 900,000 hybrid electric vehicles would have been a whole lot more attainable than the 30 to 150 kWh of capacity needed for the same number of full EVs.
 
2022-05-16 7:01:30 PM  

Dinjiin: Another was that Japan turned their attention toward hydrogen fuel-cell vehicles, which could have otherwise provided a significant chunk of battery R&D.


Yep. The situation is complicated, but a big factor is simply that a huge portion of the Toyoda family fortune is in oil and gas. Hydrogen is the "green" energy solution that most benefits fossil fuel producers and the Toyodas have a tremendous amount of political power. That's what they wanted, and that's what Japan got.
 
2022-05-16 7:21:01 PM  
Gas prices go up. People complain we need to switch. Gas prices go down. People get lazy and forget about it. Repeat ad nauseum.

Fark humans are short-sighted, stupid animals.
 
2022-05-16 7:53:07 PM  

Likwit: Dinjiin: Another was that Japan turned their attention toward hydrogen fuel-cell vehicles, which could have otherwise provided a significant chunk of battery R&D.

Yep. The situation is complicated, but a big factor is simply that a huge portion of the Toyoda family fortune is in oil and gas. Hydrogen is the "green" energy solution that most benefits fossil fuel producers and the Toyodas have a tremendous amount of political power. That's what they wanted, and that's what Japan got.


Yup.  All of those untapped methane hydrates right off the coast just waiting to be converted into hydrogen for fuel cells.  I understand why they were throwing so much money at it.

But at this point, Japan might be better off building a slew of combined cycle gas turbine plants across the country in anticipation for a BEV future as opposed to a FCEV one.  They've already adopted ChaoJi as the successor to CHAdeMo since it supports much higher wattage than CCS currently does, which is useful for a country with a lot of on-street parking.  Now they just need the batteries that can charge to 90% in ten minutes or less.
 
2022-05-16 7:59:20 PM  

Dinjiin: Likwit: Dinjiin: Another was that Japan turned their attention toward hydrogen fuel-cell vehicles, which could have otherwise provided a significant chunk of battery R&D.

Yep. The situation is complicated, but a big factor is simply that a huge portion of the Toyoda family fortune is in oil and gas. Hydrogen is the "green" energy solution that most benefits fossil fuel producers and the Toyodas have a tremendous amount of political power. That's what they wanted, and that's what Japan got.

Yup.  All of those untapped methane hydrates right off the coast just waiting to be converted into hydrogen for fuel cells.  I understand why they were throwing so much money at it.

But at this point, Japan might be better off building a slew of combined cycle gas turbine plants across the country in anticipation for a BEV future as opposed to a FCEV one.  They've already adopted ChaoJi as the successor to CHAdeMo since it supports much higher wattage than CCS currently does, which is useful for a country with a lot of on-street parking.  Now they just need the batteries that can charge to 90% in ten minutes or less.


They just call it ChaDeMo 3.0. If something like that had a Chinese name, it would completely kill their EV transition.
 
2022-05-16 10:00:07 PM  

Dinjiin: All of those untapped methane hydrates right off the coast just waiting to be converted into hydrogen for fuel cells. I understand why they were throwing so much money at it.


I'm really interested to see how much cold methane like this it would take to drop oxygen by a point in a large city like Tokyo, and in the atmosphere in general. The reason I ask such a question is because once you've burned that up, you got water, and it takes a lot of energy to break that back down. Which is why we have so much water in the first place, it's hard to decompose!

As far as life-altering climate change is concerned, cold hydrogen might do in 20 years what it took us to do in 200 with carbon fuels.
 
2022-05-16 10:32:15 PM  

Stibium: Dinjiin: All of those untapped methane hydrates right off the coast just waiting to be converted into hydrogen for fuel cells. I understand why they were throwing so much money at it.

I'm really interested to see how much cold methane like this it would take to drop oxygen by a point in a large city like Tokyo, and in the atmosphere in general. The reason I ask such a question is because once you've burned that up, you got water, and it takes a lot of energy to break that back down. Which is why we have so much water in the first place, it's hard to decompose!

As far as life-altering climate change is concerned, cold hydrogen might do in 20 years what it took us to do in 200 with carbon fuels.


What you're saying about hydrogen actually isn't entirely BS; there are some signs that it may be as bad or worse than existing fuels. Aside from the issue of making it, it also is a greenhouse gas on its own.

I hope that the falling cost of wind and solar will eventually catch up with Japan before they get dragged any deeper down the hydrogen hole. At least Nissan can build an electric car, so they aren't totally without hope, but the fossil fuel thing just doesn't want to die and methane clathrates are just more of that same stupidity.

I don't know why people like being stupid, considering solar is cheaper and already has proven it can carry a grid, and wind is already in high percentages in many places. Fossil fuels have to die, the sooner the better.
 
2022-05-16 10:50:04 PM  

adamatari: Stibium: Dinjiin: All of those untapped methane hydrates right off the coast just waiting to be converted into hydrogen for fuel cells. I understand why they were throwing so much money at it.

I'm really interested to see how much cold methane like this it would take to drop oxygen by a point in a large city like Tokyo, and in the atmosphere in general. The reason I ask such a question is because once you've burned that up, you got water, and it takes a lot of energy to break that back down. Which is why we have so much water in the first place, it's hard to decompose!

As far as life-altering climate change is concerned, cold hydrogen might do in 20 years what it took us to do in 200 with carbon fuels.

What you're saying about hydrogen actually isn't entirely BS; there are some signs that it may be as bad or worse than existing fuels. Aside from the issue of making it, it also is a greenhouse gas on its own.

I hope that the falling cost of wind and solar will eventually catch up with Japan before they get dragged any deeper down the hydrogen hole. At least Nissan can build an electric car, so they aren't totally without hope, but the fossil fuel thing just doesn't want to die and methane clathrates are just more of that same stupidity.

I don't know why people like being stupid, considering solar is cheaper and already has proven it can carry a grid, and wind is already in high percentages in many places. Fossil fuels have to die, the sooner the better.


Sunk cost fallacy is a part of it, I imagine. So much time, effort, and money poured down the hydrogen hole.
 
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