Posted on 06/01/2022 4:33:20 AM PDT by EBH
The United States and Europe could experience fuel shortages this summer that could be worse than the 1970s oil crisis as demand ramps up for travel season, the head of the International Energy Agency warned.
“When the main holiday season starts in Europe and the US, fuel demand will rise,” Fatih Birol told Der Spiegel.
“Then we could see shortages — for example, in diesel, petrol or kerosene, particularly in Europe.”
Birol said the current energy crisis could be worse and longer-lasting than the shocks of the 1970s.
“Back then it was just about oil,” he said. “Now we have an oil crisis, a gas crisis and an electricity crisis simultaneously.”
Oil prices spiked sharply as a result of the outbreak of the Yom Kippur War in 1973 as well as the Islamic Revolution in Iran in 1979.
(Excerpt) Read more at marketwatch.com ...
We all see it coming, the markets see it coming!
Less than two full years ago, we were energy independent.
Biden’s policies are destroying not only the US, but the world.
Will November elections really do anything to change any of this at that point? Not unless Republicans are willing to go to real battle and override White House vetoes.
And sadly, I just do not think we have representatives up to the task that needs to happen.
What is happening is what they want to happen.
Republicants.
Pushing the Green New Deal; Biden will blame Russia while Neocons & the Squad will cheer.
“Now we have an oil crisis, a gas crisis and an electricity crisis simultaneously.”
I wonder how that happened? What could we as a country possibly have done to create this situation?
Yea I’m being sarcastic.
Deep Staters.
1970s? No, I am thinking more like the 1930s
The problem in the ‘70s was that they tried to control prices.
There won’t be shortages if they allow prices to rise freely to cut down demand.
A fairly large percentage of vehicle miles is related to discretionary travel, e.g. attendance at sporting events, going to restaurants, visiting people, vacations, etc.
better not have a major NW Gulf Hurricane
VIDEO; President Jimmy Carter - Address to the Nation on Energy April 18th, 1977
True...The Big Guy admitted it just the other day.His puppet masters put on the teleprompter something like “we’re going through a difficult transition that will someday make us stronger”...thanks,of course,to outlawing internal combustion engines.
Tell you what, Big oil has arranged coupes and started wars between nations just for oil profits. If anyone thinks they are not also “padding the bill” for profits during this mess they are completely inept...
If there are fuel shortages in the US, it will be for one reason, PRICE CONTROLS. Without price controls, the price will rise, as needed to lower demand, so as to match supply.
And, thankfully, the Green New Deal bunch in the White House (the ones that are trying to start WW3 in Ukraine) want the high fuel prices, for obvious reasons...so we just might get lucky and not have price controls.
But what is also very likely to happen is that we will be forced to ‘share the pain’, with Europe, of making Russia a very wealthy nation (the EU term for that is “sanctions”), so even though we could do quite well if left alone, we’ll likely be sending some of our oil to Europe and having to suffer the consequences domestically.
Obfuscation and deflection, nothing more. Joe began his war on gasoline the day he was sworn in.
Much like Brandon believes in "global warming" and is pushing us to electric cars as the answer.
Tearing down the country to free us from non-existent problems. Meanwhile the energy producing countries laugh at us.
“Obfuscation and deflection, nothing more. Joe began his war on gasoline the day he was sworn in.”
Of course the did, But if anyone thinks big oil is above taking full advantage of the situation and pad the prices yet let all the blame fall on Biden they are lacking perspective of true reality.
They did the same thing in the 70s. I was there, I was in the fuel business at the time. I personally saw the opportunism.
“Never let an opportunity go to waste” is big oils motto. We have seen it time and time again. Holiday rate boosts, price boosts because of one small pipeline leak, Etc. Etc. Etc...
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