And they're never coming back down even if Hormuz were to open tomorrow lol
180
celix241 day ago
+55
Yay capitalism!
55
Voluptulouis1 day ago
+22
Yeah! F*** you, everyone that's not rich!
22
qtx1 day ago
+7
They will. Especially in Europe where airfares are a lot cheaper. People fly *because* it's so c****, if they keep the prices high they will just use the train or car instead which will bankrupt the airlines.
7
lammy8223 hr ago
+12
This is right. Air travel is insanely competitive across Europe. As soon as the cost to fuel the plane comes down, the budget airlines will slash their prices to fill their planes. Why wouldn’t they? They’re not in the business of flying empty seats about.
12
cloud_t1 day ago
-1
Price sensitivity shenanigans amid social crises should be criminalized.
-1
Mountsorrel1 day ago
+130
This is usually what we hear before the companies later announce record profits. BP’s profits have already doubled since the Iran war started:
https://www.bbc.co.uk/news/articles/c2eveyvgn9no?app-referrer=deep-link
It would be good if the BBC could look into sectors where consumer prices rise “due to war” (Ukraine, Gaza, Iran, etc) and then announce insane profit increases…
130
cteno41 day ago
+5
It’s not a surprise that an oil company’s profits increase when oil prices go up.
5
killerboy_belgium1 day ago
+33
Actually it should be a surprise because there costs should be going up to justify price increase if there profit is going it means there cost did not go up
Now revenue is logical
33
kinglallak1 day ago
+12
? This is only true if BP has to buy crude on the open market.
BP’s cost of drilling a barrel of crude out of the ground hasn’t changed.
12
cteno41 day ago
+13
Their costs don’t go up, just the price of oil. Nothing has changed on the production side. It’s logical for their profits to go up.
If you farm carrots, and suddenly everybody wants your carrots more, your profits will go up.
13
qtx1 day ago
+1
Yes, that's economics.. That's how it's supposed to work.
Come on people, they teach you this in high school. If there is a scarcity of a product the prices go up. People still need that product so the company that sells it earns more money.
1
Mountsorrel1 day ago
+3
The *amount of profit* made is a choice. There are plenty of examples out there (Arizona Iced Tea, Costco hotdogs, whatever) where the price *to the consumer* doesn’t change even though the cost *to the producer* has increased. Profitability goes down. The producer has a choice to absorb rising costs or pass them on to the consumer, or in this case pass them on to the consumers and make even more profit as a base percentage of unit cost.
3
steathrazor1 day ago
+39
And that orange moron doesn't care that the world will feel this for years The people who will suffer the most? The poor those that are on the edge of surviving. All they care about is Daddy. Israel told him to attack And tells orange man to pound harder
39
enverest1 day ago
-60
Isn't it Iran who blocked the strait of Hormuz?
-60
johnk4191 day ago
+40
Yeah as a response to Trump bombing the f*** out of them?
40
No-One212323 hr ago
Only because Iran killed 30000 protestors
0
zakabog23 hr ago
+3
...you think Trump cares about Iranian protestor lives?
3
No-One212320 hr ago
It doesn't matter whether or not Trump actually cares. The point is that Iran needs to go down no matter what.
0
zakabog20 hr ago
> It doesn't matter whether or not Trump actually cares.
It does if you are claiming that's his justification for this stupidity.
0
enverest1 day ago
-46
So instead of responding to Trump, Iran responds to civilian ships?
-46
Jaxxlack1 day ago
+21
Western ships... Context matters...
I don't like it ...but when you represent..
21
PigFarmer11 day ago
+9
You should probably avoid "current events" if you're in a trivia contest. Just sayin'... lol
9
Nearby-Key88341 day ago
+21
Bad Zionist bot.
21
pchlster22 hr ago
+1
Yeah, many a business will close their doors if maniacs start shooting at them? Them closing down the Strait was the most predictable thing that could have happened.
All because Bibi gave marching orders to King Orange.
1
Cheap_Atmosphere32761 day ago
+43
Airlines will use literally any excuse to raise fares, and then mysteriously forget to lower them when the crisis passes.
43
IlVeroStronzo1 day ago
+4
Businesses will use literally any excuse to raise their prices
4
TheoTheodor1 day ago
-7
To be fair air fares are actually insanely c**** (at least in Europe) and I can’t think of a single airline with anything that’d be considered ‘great’ profitability.
The oil and gas companies on the other hand…
-7
Boring-Research4101 day ago
+5
Essential products and services....water service, medical services, electricity, fuel a.s oils should all be nationalized.
5
PigFarmer11 day ago
+1
They should all be regulated.
1
doninside1 day ago
+12
thank you orange buffoon
12
Nearby-Key88341 day ago
+5
Well now I'll have to cancel the European vacation I didn't have enough money or PTO for anyway.
5
OverSoft1 day ago
+3
And yet I can still book a return trip from the Netherlands to Italy at the end of July for less than €120.
3
aurorasearching1 day ago
+6
Other side of the Atlantic, but a round trip from Philadelphia to Dallas was over $900 the other day.
6
Voluptulouis1 day ago
Ew, Texas.
0
strzeka1 day ago
-14
Stay home or take the train.
-14
opisska1 day ago
+9
It would take a lot of increase for planes to be more expensive than the train for long-distance travel in Europe.
9
strzeka1 day ago
Agreed. Rail transport can be expensive. But it runs on electricity. Europlanes aren't going anywhere if kerosene runs out.
0
SemiHemiDemiDumb1 day ago
+3
Genuine question, how much of European energy generated by oil?
3
opisska1 day ago
+1
Electricity? Very little - even fossil plants use mainly coal and gas. But obviously a lot of energy generated is not electricity but direct use of oil products in ICE vehicles.
1
jinglejanglemyheels1 day ago
+1
You can check the distribution of technologies in the different zones [here](https://app.electricitymaps.com/map/live/fifteen_minutes)
1
opisska1 day ago
+2
The problem is that I don't believe that long-distance trains even could replace flights if we just stopped flights right now - the infrastructure is lacking. Also people tend to really overestimate how many people a train transports compared to a plane - the current planes are really efficiently packed, with around 200 passengers, which is maybe 3 carriages of a typical long-distance train. And the trakcs are at capacity inany places (they surely are in Czechia and Germany).
2
aimwf1 day ago
+4
most peoples cannot afford to take the train, but still wanna see family or go take vacations, train is stupidly expensive for long distance.
4
roox9111 day ago
+1
Yeah! Poor people don't need to travel or go on vacay!
/s
48 Comments