Europe Has 'Maybe 6 Weeks of Jet Fuel Left'
- Reference: 0181732820
- News link: https://hardware.slashdot.org/story/26/04/16/1916239/europe-has-maybe-6-weeks-of-jet-fuel-left
- Source link:
> IEA Executive Director Fatih Birol painted a sobering picture of the global repercussions of what he called "the largest energy crisis we have ever faced," stemming from the pinch-off of oil, gas and other vital supplies through the Strait of Hormuz. "In the past there was a group called 'Dire Straits.' It's a dire strait now, and it is going to have major implications for the global economy. And the longer it goes, the worse it will be for the economic growth and inflation around the world," he told The Associated Press. The impact will be "higher petrol (gasoline) prices, higher gas prices, high electricity prices," said Birol, speaking in his Paris office looking out over the Eiffel Tower.
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> Economic pain will be felt unevenly and "the countries who will suffer the most will not be those whose voice are heard a lot. It will be mainly the developing countries. Poorer countries in Asia, in Africa and in Latin America," said the Turkish economist and energy expert who has led the IEA since 2015. But without a settlement of the Iran war that permanently reopens the Strait of Hormuz, "Everybody is going to suffer," he added. "Some countries may be richer than the others. Some countries may have more energy than the others, but no country, no country is immune to this crisis," he said.
[1] https://apnews.com/article/iran-war-europe-jet-fuel-flight-cancellations-birol-6e67fafd493861b3858de5548aa77703
party like it's 1999! (Score:1)
It seems like the markets are looking past this pesky fuel shortage risk and AI rebranded companies are still getting pumped. I'm glad I bought the dip before TACO Tuesday, but I'm scared this cease fire was Kabuki theater for the plebs and while the USA and Israel re-arm for operation civilization destruction. But I do feel sorry for all the vacationers who will be impacted due to fuel shortages and flight cancellations. What a twisted world we live in!
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Not willing to bet my $ on it, but there does seem to be a pattern where the administration will spout BS on tweets, FoxNews, etc Mon-Thurs saying how everything is getter better, will be all resolved, then on Fri-Sun they do the crazy s--t like attack an oil tanker outside of market hours. The next week they rinse and repeat. And yeah, i don't understand this stock market at all, except that maybe traditional stock trading has migrated to the BTC scenario where there are small number of firms but with l
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Screwing around with Iran is hardly the entire world. He'll be gone in 2.5 years anyway.
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> Screwing around with Iran is hardly the entire world.
odds are you are in for a surprise on that.
> He'll be gone in 2.5 years anyway.
you might be in for a surprise on that too.
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Well Big Orange is just a puppet for Israel (same with Biden, Oboomer, W. Bush). Neo-conservatives and fake-liberals alike all kiss the wall and do whatever the PM of "our greatest ally" tells them to. People like Epstein (you know there must be a dozen others that work in the fields of sexual blackmail) keep them all in check. It doesn't matter if there's a Blue Pedo, and Orange Pedo or a Black Pedo in office. We are "One Nation Under Blackmail."
And it IS the entire world. Obama carpet bombed Lybia and
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"Big Orange is just a puppet for Israel (same with Biden, Oboomer, W. Bush)"
the Kenyan Muslim was also Bibi's bitch?
is that why he never bombed Iran and gave them back their frozen funds?
The Batcave's Trump Million-Dollar Coin Exhibit (Score:1)
I was mostly kidding when I said I was going to become the Joker, but I have to admit I'm not completely NOT enjoying watching the world burn.
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World's not burning; insufficient fuel.
"Have you said thank you once?" (Score:2, Informative)
Keep Donnie Dipshit in mind every time you fill up, book a flight or spend more on food. And don't forget his fake hillbilly Thiel-thrall.
This absurd, unnecessary disaster is entirely his.
It'll be easy to remember to keep thanking him, because you'll be [1]paying for his emotional problems [marketwatch.com] up through the 2028 elections and beyond.
[1] https://www.marketwatch.com/investing/future/clj28/charts
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This is the sorta thought that makes me nervous. Inasmuch is I am afraid that maybe people in the Administration have the same wrong-headed idea. There are multiple, knowledgeable sources, that point out that the US is an order of magnitude away from having the facilities to be able to ship crude (let alone refined products) in any meaningful way to replace that coming out of the Persian Gulf. Keep in mind even Saudi Arabia, with a coast along the Red Sea, doesn't have terminals nor pipelines on the Re
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I wouldn't say he is truly bronzed, but certainly aged. And no, I voted against him, like millions now wish they had.
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There was a treaty in place that was working fine until Trump ripped it up because Obama negotiated it, you stupid ass. And now we're in a situation where Iran has every good reason to get nukes, to defend themselves. If Iran actually had nukes, the US wouldn't have attacked it in the first place.
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A treaty?? With Iran?? LOL LOL Iran's government is pure evil son. Allowing those sons of bitches to have nukes is like giving children to an Epstein foundation. What could possibly go wrong?
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Now talk about North Korea and Pakistan.
Bronze age religious crazies is relative. You have the orange turd telling the Pope he doesn’t know what he’s talking about.
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> Now talk about North Korea and Pakistan.
> Bronze age religious crazies is relative. You have the orange turd telling the Pope he doesn’t know what he’s talking about.
Technically that was one of the orange turd's "advisors," but this administration also employs someone who thinks getting blackout drunk and waking up at Waffle House means he teleported, so, you know, confusing which of them said what is completely understandable.
No actual shortage (Score:2, Insightful)
Just like with their former dependency on Russian energy only a few years ago, Europe once again finds itself incapable or unwilling to mitigate risk in the same sector. Shocking.
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Before Trump, the US had been preaching globalism for a long time. Even though Trump destroyed the WTO, it was US which forced through the creation of GATT which became the WTO. Much as the EU in fact.
EU practises what the US preached ... they were indeed dumbfucks. Should have chased autarky from the start, which should have obviously included rejecting NATO from the very start. NATO was the original sin, defence dependence segued into energy dependence.
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Peanuts. Europe would have rebuild regardless, but they were tired and got suckered into a failed path of dependence ... by the US.
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Should have chased autarky from the start
A country cannot be autark without today without having people starving on a huge scale.
See North Korea.
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Autarky for the extreme necessities (fuel/fertiliser to keep farming and distribution going, steel, concrete, etc), sphere of influence trading for when that's not practical, global trade for luxuries only.
Of course to have a proper sphere of influence, you need to be a proper independent superpower.
Isn't this, like, the plan? (Score:2)
The ones who suffer will mainly be . . .poorer countries in Asia, in Africa and in Latin America . . .
Who needs 'em anyway? /s because Poe's Law dammit
So... more U.S. oil sales? (Score:4, Interesting)
Maybe Trump is just making good on promises to U.S. oil executives/companies -- first killing wind farms and subsidies/credits for renewables and now hampering middle-east oil production and shipments. /cynical
[1]Trump pressed oil executives to give $1 billion for his campaign [politico.com]
[1] https://www.politico.com/news/2024/05/09/trump-asks-oil-executives-campaign-finance-00157131
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Making the world more dependent on American crude would be a bullet point in their strategy powerpoint, if they actually have one.
I'm sure they don't have a strategy but if they did it would be generated by GrokAI and would be full of stupid, dangerous bullet points. And deepfakes of Jesus H. Trump.
They have less than 30 days of fuel (Score:3)
Birol dumbed it down for the media. Normally the EU has about 40 days worth of jet fuel in storage or transportation within the EU. The issue is that the EU is using fuel faster than than it can be replenished. In the next 42 days they expect to be only able to replace about 12 days worth of fuel. So on day 43 they will have only 25% of the fuel they need if they don't start rationing soon.
Unfortunately rationing or raising prices is difficult in the short term, tickets are already sold, and price rises are deeply unpopular. EU politicians are already reducing taxes and releasing reserves to keep the price of petrol low. The politicians are effectively removing the price signal that there is a shortage. Probably not the wisest thing to do economically but the voters will reward it. When the fuel runs out they can blame Trump even though the EU will do nothing to mitigate the problem. Trump doesn't have a monopoly on stupidity.
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The only thing the EU could do to mitigate it at this point is full military deployment ... to protect Iran.
It's not lack of ships and bombs for the US which makes it hard to finish this fast, so supporting Trump more does little except make Trump happier.
Could get a lot worse (Score:2)
If Iran's Fajr-5 mine deploying missile system actually works (could just have been propaganda) they could shut down not just the strait, but also the Suez canal on their way down, for long enough to create the biggest clusterfuck since WW2.
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Israel and the US, the fascist aggressors who started this war, should obviously surrender, and hand over the architects of the war to Iran to face trial.
Though there are other places, like Lebanon, Palestine, Venezuela which will also have the right to put some of the same people on trial..Those rogue states really do attack a lot of other countries.
Fake Issue (Score:3)
This is all fake until I see the European elites private jets grounded.
Reap what you sow (Score:2, Insightful)
Europe knew that Russia was running roughshod over the United States voters and working hard successfully to put Trump back in the White House. They also knew the Democrats weren't going to do shit because they were too weak and trusted the voters too much.
Europe's intelligence agencies should have stepped in and prevented Russia from installing Trump but their billionaires are hoping the United States gets knocked down a bit and maybe even they can get the euro and as the world's default currency if th
A Problem Their Own Making (Score:2)
The same IEA has warned repeatedly of the precarious position Europe has put themselves in with regard to fuel dependence. The Russian war on Ukraine and subsequent sanctions should have made that tangible but Europe just switched over to Gulf suppliers, exacerbating the present problem. In fact instead of reacting to increase domestic refining and reserves just last year Europe shut down 4 refineries (~400000 barrels per day) of capacity. It lets politicians pretend they are being green while actually just
How 'Bout That Synhelion? (Score:1)
With the concentrated-solar driven Fischer-Tropsch process done on agricultural waste or whatever? Sounds to me like you could just make they could make jet fuel out of crap with that if they had to. That could be useful.
Why? (Score:1)
Why are we allowing a shit stain government like that controlling Iran right now be any kind of threat to international shipping?
We SHOULD be able to put enough steel down in the area to make any attempt to control traffic by Iran impossible.
Let's see in six weeks... (Score:5, Insightful)
I bet they're will be jets flying all over the place.
Re: Let's see in six weeks... (Score:4, Insightful)
Having six weeks of supplies and knowing a delivery is coming in the next five days is fine.
Having six weeks of supplies and knowing that no tanker is on its way and it might be weeks before one is even on its way - that's an entirely different situation.
The world has relied on "Just in Time" delivery or maintaining minimal backups to cover brief weather interruptions for many years as globalisation became the norm.
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> The world has relied on "Just in Time" delivery or maintaining minimal backups to cover brief weather interruptions for many years as globalisation became the norm.
That's the major problem. Nobody has any stockpiles anymore. In previous times, villages had granaries to store food to hedge them through a tough period. Today, the financial equivalent is futures contracts, but that doesn't help when the physical delivery can't happen. Your average neighborhood grocery store has maybe a couple or three days of supply; they don't have canned foods and such in the back now. That's inefficient, particularly for taxes where you have to pay tax t the end of the year on invent