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#oil#china#global#war#iran#https#news#prices#world#keep

Discussion (15 Comments)Read Original on HackerNews

megamike•about 2 hours ago
question: When does all this hit the fan? Been reading for months that gas will rise to astronomical prices. When? answer: it depends heavily on China. If China were to jump into the global oil market with both feet, prices would shoot upwards. To date they have largely stayed on the sidelines.They have huge amounts of oil in storage. Their behavior so far has been the big surprise. They have been providing a pressure relief valve for the entire globe.
fragmede•29 minutes ago
I wouldn't call what they're doing "staying on the sidelines". It's a very big thing they're doing to stop global oil prices from shooting up by using up their stockpile for as long as they can. As to why, it's just the... I dunno, Chinese? thing to do. Quietly fix someone else's fuckup and not seek glory. Whatever you want to attribute it to, it's an ethos and makes total sense to some, because things are gonna get fuuuuuucked if gas prices go to the moon.
toomuchtodo•28 minutes ago
China’s economy depends on exporting to the world, as it will never have enough domestic demand to meet domestic supply. If the global economy crashes from an oil price shock, China goes down with it.
fragmede•14 minutes ago
Power is better than money though. China is communist in name only now, but they could extract huge concessions out of the rest of the world right now if they wanted to.
cyanydeez•about 1 hour ago
when the rich people stop talking to their LLMs and realize their hand servants have access to guns.
relug•about 2 hours ago
interesting why usa wants to keep escalating, muat be some strat behind it maybe to induce strategical global recession or try and slow down china or something else
thraway3837•about 1 hour ago
Military–industrial complex and Israel.

The Iraq war lasted nearly a decade. Afghanistan 2 decades. And the US accomplished nothing. They made things worse, I don't need to go into details because that is an easy lookup.

That's ultimately the purpose of this war. Israel wants us to fight Iran because "Iran was close to making a nuke", which is an excuse they have been using for nearly 30 years.

Have you seen how much money AIPAC has in US politicians' pockets? Nearly every other office in congress has an Israel flag on their door. Poured $36M (Million) into Haley Stevens. A complete nincompoop and incompetent person, but she would have further supported Israel's agenda.

The US is a destructive war machine beast that needs to be constantly fed. Unfortunately, we are going to see tons of US armed forces personnel and Iranians die in a needless, wasteful, illegal war.

MrDrone•about 2 hours ago
I think it's giving more credit than is due to assume there's a strategy. At this stage, it seems pretty clear that a number of people are using insider knowledge of these negotiations to enrich themselves. To me this is representative of a broader pattern of looting American institutions pervasive in this administration.

> https://liccardo.house.gov/media/in-the-news/house-dem-sam-l...

At the same time, we've purged our military leadership of anyone who said "no" to Trump's plans of antagonizing Iran. A conflict many military thinkers consider un-winnable.

> https://www.duckworth.senate.gov/news/in-the-news/why-trumps...

Iran, having spent decades preparing for this type of situation, has the clear advantage and is pressing it hard. Shy of boots on the ground (itself an incredibly bloody and possibly futile avenue) there doesn't seem to be anyway to overcome their hold on the Strait.

> https://studies.aljazeera.net/en/analyses/war-no-one-can-win...

There is no secret strategy. The country is led by inept people who believe might makes right, and take every opportunity to enrich themselves. People are bending over backwards to make meaning of this blatant corruption and it is one way we're enabling the destruction of America.

toomuchtodo•about 2 hours ago
The only way for the US to win is to concede and acquiesce control of the Strait to Iran, but the administration has too much pride and hubris so they’ll keep bullying until stopped.

It’s not a complex geopolitical game, it’s saving face.

DANmode•42 minutes ago
Solar-and-nuclear based energy sovereignty, is the most charitable interpretation I’ve developed.
mrtesthah•about 2 hours ago
Do it, please. The world can't afford to keep burning oil.
HDBaseT•about 1 hour ago
We can't afford to not keep burning oil.
toomuchtodo•about 1 hour ago
We can. It’ll be hard, but sometimes you gotta buck up and do hard things instead of being lazy. We won’t do it unless we’re forced to, business as usual is simply too cozy for decision makers, politically, in capital markets, and at multinationals making decisions. Wealthy and powerful people want to remain wealthy and powerful, a tale as old as time.

2-3C means potentially >2-4 billion excess deaths over the next ~50 years from climate change. As long as global oil supply chains are low volatility and low risk, we continue on that path.

Ukraine has disabled 30-40% of Russia’s refinery capacity almost entirely with drones, for example.

TLDR it is not bad for the global oil supply chain to experience pain, it’s the primary factor in accelerating electrification and decarbonization.

https://actuaries.org.uk/media/ni4erlna/planetary-solvency.p... (page 32 risk impact matrix)

https://oilprice.com/Latest-Energy-News/World-News/Ukraines-...

OneDeuxTriSeiGo•1 minute ago
That's not really the argument they are making I believe. The issue is if you suddenly cut back oil countries pivot to bringing coal back because it's the fastest to scale up.

Some places may scale up natural gas but unless a regional already has a lot of LNG infrastructure in place, a sudden drop in oil means bringing back coal.

And coal is of course far worse than oil.

Gradual sustained economic pressure will push a move to cleaner alternatives but a sudden shock leaves countries with exactly one option: bring back coal so the lights and heat/AC stay on.