World doesn’t grasp implications of ‘largest energy crisis in history’: IEA executive director

Hype is good for business.

Rules of acquisition 34 and 35!

Yeah we're at a weird point right now where the stock market sees basically everything as positive. News will come out saying a company is performing like ass and shedding money and it'll cause the stock price to jump. Nothing makes any sense.

Two of my favorite Rules of Acquisition

Rule of acquisition 34 and 35.

Ah yes, Ferengi Rule 34. ^^^and ^^^35

A good quote from the rules of acquisition!

Peace is good for business, war is better.

It never did. It's fundamentally about speculation.

No it’s not. It cause companies havnt really been impacted yet. Earnings were just last week and all of them blew away estimates with this war going on. Inflation has ticked up alittle but not to a meaningful degree to get worried there’s going to be an inflation scare. This could change in the future and the likelihood increases as the war prolongs.

Hey, we hate the pricks in charge too. Unfortunately, the game is heavily rigged.

You’re not wrong, but the person I was responding to was talking about the pain of depleted oil reserves. Two different kinds of pain.

This is not true. He has lost an immense amount support, just not from his super loud base. That's like 36-38% of the voting public, which if you look at the normal distribution of intelligence, its about 35% that are significantly below average. The people that voted for him because of high inflation no longer support him. Those are the people that got him elected.

Trump will blame it on Biden.

And this is good, long-term, for the rest of the world.

There's no way the US ever sends its own ex-president to the Hague, even Trump. They'd much sooner give him the death penalty at home.

Brexit screwed Britain. Trump & co are messing up the entire world. It's called American assholism

> and the US a new signatory to the ICC. Lol no, doesn't matter what party it is. There is no reason to expect to put a yoke on your country is going to be popular when *there is no benefit*. The people getting elected don't care what the world thinks, they care what the people voting think.

Despite the fact that even if the Strait reopened today it would take months or years to renormalise. They're still saying "two weeks and we're instantly back to full operation". It's breathtakingly reckless.

Part of the problem is that we're covering the supply gap with reserves, oil prices will shift fast as soon as that gap can no longer be filled and buyers are genuinely worried about running out of oil.

I imagine he's speaking to other people in positions of power around the world, not Listnookors. Whether it's government officials or people in charge of businesses I don't think it's unreasonable to think they all really get what's going on. I base that line of thinking on the example my home country is setting. I know we're for sure the global leader in dipshit politicians per capita but other countries have theirs as well.

Mostly correct - vast majority of oil sands (bitumen) is shipped from Alberta in Canada to Texas to be refined - like 90% - but a recent pipeline expansion to the west coast in Canada has resulted in a growing amount of the same stuff going to Asian markets instead.

There are multiple refineries in Canada. Refinery capacity is below refined fuel usage (about 80%).

Not all, but enough

Sure, in the same way they could guarantee healthcare, pensions, and housing for their citizens. We'll see if/when that happens.

Just sovereign independent country things

Right now trends are not jumping that quickly to generation outside of oil and gas and coal. Nuclear would be great but it's not moving fast enough.

Cleaner in 10 years, the crisis is today

Aren't you on the same grid as NYC? Your 90% renewables aren't going to protect you from price hikes with NYS is willing to pay 10x what you are currently getting it for.

Canada would, but Alberta vetoed it unless they get to be American. And the Pac coast wants in too. Canada should get coastal Oregon and Washington, Sota, the UP, in exchange for Alberta going the other way. US gets oil, Canada gets a lot of relatively nice people. Northern Cali is a bit too conservative to be included, and incorporating Maine/NE into NewAnnexedland along with PEI, Newfie and NB seems like an argument begging to derail the whole thing.

They could have voted for Bloc, NDP, C or GRN. It’s just refreshing to hear someone that doesn’t treat politics like a sports team. I agree, Carney was the right choice.

No I did not. Nor does it matter. Carney is winning over many people from cons to NDP and everything in between. I love being wrong about someone. As my PM I love it Eve more

Being reliant on oil is certainly stupid. It angers me no end that the UK govt has sat on its hands for the last couple of decades instead of pumping resources into energy independence. But that's a completely separate argument.

I’m far from being an expert on that matter but from what I read the point you are making is much too narrow. First of all, the countries most afflicted supply-wise by the closure of the strait are in Asia. Europe gets much less oil through the strait than commonly expected but it is also confronted with a double crisis since another large supplier, Russia, has been taken out of the supply chain for obvious reasons. That doesn’t change the fact that 20 percent of global supply is running through the strait of Hormuz and that affects oil prices since oil is traded globally and in real time. That is why prices are jumping globally even in the US despite their status as an oil exporting country. What you are describing is a complete exit from global oil trade to mitigate consequences for the domestic market but that is pretty much the economic equivalent to a full nuclear exchange. It would tank the world economy in a way we probably never witnessed before and even in the US or Canada people’s least worry would be gas prices in that case. And just for the sake of argument: Europe has quite substantial oil fields in the north sea which are exploited by Britain and Norway. It is much costlier though than oil from the Middle East because it is harder to get to. I completely agree however that renewables are not just a question of sustainability but also of strategic autonomy. Despite this there will always be areas in which there is an oil dependency. The petrochemical sector is one but also extremely heat intensive industrial processes. Heating houses is another sector where change will take time. So I would have agree with the original comment that the US did something exceptionally idiotic with their military invention in the area and don’t seem to have an exit strategy without losing face. The latter is probably the biggest hurdle with someone like Trump in the White House.