RealWarrenBuffett@lemm.ee to Mildly Interesting@lemmy.worldEnglish · 10 months agoOil prices crashed 19% from their peaks—here's whycreditnews.comexternal-linkmessage-square33fedilinkarrow-up1117arrow-down19file-text
arrow-up1108arrow-down1external-linkOil prices crashed 19% from their peaks—here's whycreditnews.comRealWarrenBuffett@lemm.ee to Mildly Interesting@lemmy.worldEnglish · 10 months agomessage-square33fedilinkfile-text
Less than two months ago, analysts were talking about $100 a barrel oil prices; that now seems like a distant reality.
minus-squareAA5B@lemmy.worldlinkfedilinkarrow-up25arrow-down1·10 months agoI’m looking for the (long, drawn out) end of the gasoline industry, where we enter a virtuous cycle of: reduced demand lower prices a few fossil fuel companies cut back or go out of business reduced supply higher prices more usages switch to renewables repeat
minus-squareSgt_choke_n_stroke@lemmy.worldlinkfedilinkarrow-up10·10 months agoI mean you don’t see demand for whale blubber for lanterns. That’s gonna be the end result
minus-squareephemeral_gibbon@aussie.zonelinkfedilinkarrow-up2·edit-210 months agoThey’re a small part of what we use oil for though. Significant, but a hell of a lot smaller than fuel
minus-squareKbin_space_program@kbin.sociallinkfedilinkarrow-up6·10 months agoThe problem is that the rich are hiding that they’re shit with money and can’t pay interest on their loans by jacking up the prices of everything
I’m looking for the (long, drawn out) end of the gasoline industry, where we enter a virtuous cycle of:
I mean you don’t see demand for whale blubber for lanterns.
That’s gonna be the end result
Plastics.
They’re a small part of what we use oil for though. Significant, but a hell of a lot smaller than fuel
The problem is that the rich are hiding that they’re shit with money and can’t pay interest on their loans by jacking up the prices of everything