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#1561 | |||
Cabover nut
Join Date: Aug 2015
Location: Onsite Eastcoast
Posts: 10,837
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Quote:
Water will be the new petrol crisis.
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heritagestonemason.com/Fordlouisvillerestoration In order that the labour of centuries past may not be in vain during the centuries to come...... D. Diderot 1752
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#1562 | ||
Peter Car
Join Date: Dec 2004
Location: geelong
Posts: 23,145
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If energy prices are soaring, why has the solar feed in rate been cut?
They take it for next to nothing, then charge you a fortune for what you take back when the sun stops shining. A lot of the oil price surge can be attributed to President Potato in the USA. America went from being self oil dependent, to sucking on the teet of imported oil pretty much overnight due to their america last green policies that want high oil prices to force people into EV's. Their power sources can barely get by now, just imagine how bad it's going to get over there once EV's become more common. They banned all future oil exploration. It's by design, the Ukraine invasion just became a convenient excuse to blame high oil prices on. Despite oil prices soaring months before the invasion. |
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#1563 | |||
FF.Com.Au Hardcore
Join Date: Feb 2010
Location: Geelong
Posts: 1,718
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Quote:
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#1564 | |||
Thailand Specials
Join Date: Aug 2009
Location: Centrefold Lounge
Posts: 49,073
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Quote:
We don't have any legislation around supply and pricing of our own resources into our domestic market, WA has legislation about supply on natural gas that their industry must guarantee supply to the local market, where as us eastern states (and SA) are paying spot prices, WA is only paying like $6/GJ for gas and here we're paying $35-$55/GJ. We're literally competing on the global market for our own resources we dig up/harvest/use internally. Except countries like China and Japan are buying on long term contracted pricing, so they're paying way less than what we are for our own gas even after the cost of shipping it to them. May be different for brown coal we use in VIC because I don't think its as valuable or exported at any decent rates in comparison to black coal which NSW and QLD both use. There's conjecture about 'lack of competition' causing 'price rises' to Australian customers but I think its Canberra being 'afflicted by mental retardation' to quote Iranian President Hassan Rouhan. https://nymag.com/intelligencer/2019...tardation.html Should be fulfilling our own market requirements first + some extra buffer, then you can export as much as you want. They're predicting a gas shortage on the eastern coast this year, how the hell do we run our own domestic market out of a resource we have an abundance of? https://www.theguardian.com/australi...y-review-warns Last edited by Franco Cozzo; 30-05-2022 at 08:12 PM. |
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#1565 | ||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,899
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Would love the see the ROI on energy exports vs dishing out cheap energy to locals (both businesses and residents).
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#1566 | |||
Thailand Specials
Join Date: Aug 2009
Location: Centrefold Lounge
Posts: 49,073
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Quote:
Plus we have no manufacturing industry anymore, all our resource intensive industries left the country - this is a conversation we should have been having 40 years ago, not looking at it now ![]() As far as I'm concerned, I have zero interest in financials over whats beneficial over the private company exploiting our resources and throwing Australians under the bus. I have an interest in Australian resources benefiting Australians first (and maybe other friendly neighbors to help out). Once we're all looked after, then they can chase money from other countries. No Australian state should be looking down the barrel of LNG shortages or being charged out the *** in a country with an abundance of natural resources we can take advantage of cheaply. If our politicians have balls we'd have done something about this years ago but they're too cheaply bought by political donations from said companies, thats how lame our political class is. You could understand if they were bought out by a semi worth of gold bullion, but its like they're selling out for a plastic deck chair and a slab of VB. They can't even do corruption properly ![]() Last edited by Franco Cozzo; 30-05-2022 at 09:20 PM. |
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#1567 | |||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,899
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Quote:
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#1568 | |||
Guest
Join Date: Aug 2018
Posts: 1,892
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Quote:
In 1976 John Howard when Treasurer, introduced Oil Parity Pricing allowing Oil Co’s to artificially jack up prices as a deceitful contrived necessity, milking billions from the people even though Australian production costs remained at $3 a barrel. Oil Co’s were given permission to charge overseas prices for all the oil found in Australia, and make massive profits under the guise that it encouraged them to search for oil here. https://www.aph.gov.au/~/media/wopap...3%20a%20barrel. |
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#1569 | ||||
Thailand Specials
Join Date: Aug 2009
Location: Centrefold Lounge
Posts: 49,073
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Quote:
Quote:
So how do those exports benefit Australians? I'm not seeing no benefit out of this, all I'm seeing is 520% increase in two years on gas prices domestically, getting charged up the *** for our own resources while not getting any revenue from these exports either? Last edited by Franco Cozzo; 30-05-2022 at 09:52 PM. |
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#1570 | ||
Thailand Specials
Join Date: Aug 2009
Location: Centrefold Lounge
Posts: 49,073
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Maybe we should buy Russian gas instead for our domestic use, it could be going cheaper than ours
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#1571 | |||
FF.Com.Au Hardcore
Join Date: Jan 2018
Posts: 990
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Quote:
Not to mention our oil is a high sulphur called sower and others have what is called sweet that has no sulphur or little. If one does not bother to search for oil then price will rise down the tack. I could tell you all the real reason why we are paying so much for fuel now, but I will gust get that wiped with some BS reason from some mod. Their is no real valid reason why we are having to fork out like we are at all what soever ! It's Joe Biden's baby, he wants high fuel prices just like Elbo wants high fuel prices in fact, the moron is going to put the 20 cents Tax back on as soon as he can ! Not to mention in QLD we are paying 3 times more that we should for power, now who gets all that money ? don't tell or people may wake up and smell a huge Rat ! |
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#1572 | |||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,899
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Quote:
I don't think its any particular one or two individuals.....I think the G7 have some big plans for us obedient little underlings.
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#1573 | |||
Experienced Member
Join Date: Sep 2006
Location: Australasia
Posts: 7,560
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Quote:
https://www.drive.com.au/news/friday...0130816-2s0sm/ |
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#1574 | ||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,899
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AUD equivalent of petrol prices in the UK is $3. That's for normal unleaded.
![]() There are mumblings we might hit the same energy "crisis" as the UK, why, I don't know.
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#1575 | ||
FF.Com.Au Hardcore
Join Date: Jan 2010
Posts: 11,291
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#1576 | ||
Thailand Specials
Join Date: Aug 2009
Location: Centrefold Lounge
Posts: 49,073
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Jim Chalmers claiming there is no easy or quick way to fix the gas crisis problem we're walking into, sure there is Jimbo, you and your new government gets off your fat *** and create some legislation that they must meet all domestic supply demands much like what WA has. That would require them going back on their donors though - here have $10,000 towards your campaign while we take $138B/year of your resources. Rest assured if that was me in that position I'd be selling you all out for 9 figures because I do corruption properly, no plastic deck chair and slab of VB like the previous flogs - the more you make the more you pay me. I'm not greedy just pay me 2.5% of your profits indexed annually and you have my word that parliament won't nationalise you ![]() Last edited by Franco Cozzo; 02-06-2022 at 10:48 PM. |
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#1577 | ||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 5,252
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Yes the next few years are going to get very hard.
Fuel, groceries, electricity/gas for eastern states, rent or mortgage rates climbing. Not good! |
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#1578 | ||
Regular Member
Join Date: Mar 2011
Location: Southern Tablelands NSW
Posts: 468
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Not likely. Albo said that he'd fix everything.
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Fordless Stuff this,I'm going to play a few shots & see what happens. |
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#1579 | |||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: Catland
Posts: 3,638
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Quote:
Agree Franco, you might like some of the Macrobusiness links, where their rage is both strong and just. https://www.macrobusiness.com.au/202...ers-nuke-albo/ and thanks whynot for the link to oil shocks, will try to get through it ![]()
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I6 + AWD |
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#1580 | ||
Virtuous Bogan (TM)
![]() Join Date: Jan 2005
Location: TAS
Posts: 27,566
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Cripes $2.2/L for diesel down here is pretty painful
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#1581 | ||
FF.Com.Au Hardcore
Join Date: Nov 2009
Location: Sydney
Posts: 1,127
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$107 to fill focus with 98 yesterday… I know it’s expensive.. but still burns at the pump.
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2016 Mazda 3 SP25 GT 2019 Hyundai i30 Active. |
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#1582 | ||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,899
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Just don't fill it up. Stop at $50. Makes me feel better.
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#1583 | |||
Regular Member
Join Date: Jan 2014
Posts: 374
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Quote:
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#1584 | |||
FF.Com.Au Hardcore
Join Date: Jan 2011
Posts: 1,357
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Quote:
Dr Terry |
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#1585 | |||
FF.Com.Au Hardcore
Join Date: Jul 2010
Location: NSW
Posts: 4,325
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Quote:
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#1586 | ||
Al
Join Date: Feb 2015
Location: South Aus.
Posts: 1,729
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Bloody Russians!
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#1587 | ||
Regular Member
Join Date: Oct 2008
Posts: 348
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#1588 | |||
FF.Com.Au Hardcore
Join Date: Jan 2010
Posts: 11,291
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Quote:
and all the corporates are making record profits jacking up prices that were forced to pay. What annoys me is that the reserve banks answer to inflation is jacking up interest rates to the most vulnerable people, home buyers. I’m glad that my mortgage is almost paid off, I’d hate to think what a $300k or more debt would mean on top of all the other jacked up prices. |
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#1589 | |||
Peter Car
Join Date: Dec 2004
Location: geelong
Posts: 23,145
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Quote:
The moves by the oil companies is a direct response to him trying to destroy them. Pumping more oil would bail him out. Finding more oil would too. This wouldn't even be an issue if he wasn't president. OPEC Says To Biden: If You Want More Oil, Pump It Yourself OPEC and its oil-producing partners have rebuffed President Joe Biden’s calls for increased production amidst rising fuel prices, retorting that if the United States believes the world’s economy needs more energy, then it has the capability to increase production itself. The OPEC+ alliance, made up of OPEC members led by Saudi Arabia and non-member top producers guided by Russia, approved an increase in production of 400,000 barrels per day for the month of December. Several OPEC ministers have expressed concern over loosening the taps, wary of renewed setbacks in the battle against the pandemic and the slow speed of economic recovery. Countries claim that because demand is not yet high enough to justify increased production, there is a risk of market distortion. Luckily for consumers, OPEC members also have a rich history of cheating. OPEC+ supply restraint has supported a rally that pushed global benchmark Brent crude to a three-year high of $86.70 last month. President Biden’s overtures to OPEC + sound disingenuous against the backdrop of a Democratic Party energy doctrine, announced in January 2021, that seeks to limit production of hydrocarbons in the US and limit GHG emissions globally. This year the Biden administration announced a moratorium on drilling permit issuances on federal lands and waters, and effectively killed the KEYSTONE XL pipeline from Canada to the U.S. in the name of environmental and Native American tribal concerns. Biden wants to appeal to his Democratic voter base by reducing the climate costs of domestic fuel production, while also pressuring other nations to increase their output to lower domestic oil prices. In other words, politically, he wants to have his cake and eat it too. The Biden administration’s refusal to increase oil and gas output also puts Europe in a particularly difficult situation, as the gas production in the UK, North Sea, and Holland is depleting, and there is no domestic gas supply besides Norway. Thus, the current US energy doctrine has only increased Russia’s influence in the region by making it’s Nord Stream 2 Gas Pipeline – which would see another 55 billion cubic meters (bcm) of natural gas supplied to the EU while circumventing Ukraine – a very attractive offer for an energy-starved Europe. The continent’s energy woes are exacerbated by poor public policy making by the EU’s de-facto leader, Germany – which has prioritized closing nuclear plants over decommissioning coal and gas plants. Despite over $30 billion Euros invested in the German Energiewende (energy transformation) last year alone, rapid declines in the cost of wind and solar have not translated into cheap electricity due to decommissioning of coal and nuclear plants. But there is a risk of prices overheating. OPEC has a “goldilocks zone” for oil prices which fluctuates depending on the member. There are ‘price hawks’ who have more expensive lifting costs and therefore traditionally favor higher oil prices (Iran, Venezuela) — and price doves which can extract oil cheaply (Saudi, UAE) who want to make sure that high prices don’t drive buyers to invest in alternative energy. Generally, the $75 to $90 a barrel range is the sweet spot which allows for sufficient government revenues, but is still not high enough to encourage investment in substitutes. But because oil prices have been historically low, members may be more inclined to keep prices higher for longer to attract the needed investment in the oil sector. Another factor to consider is that it is not clear how much, if any, political sway Biden has over OPEC. As of 2018, OPEC member countries held 79.4% of the world's proven oil reserves and produced about 40% of the world's oil output. OPEC has the ability to drive prices and the Biden administration has hampered the US’ ability to push back against the cartel's pricing power by ramping up production. Since early 2020, pre-corona, US oil production dropped to 2018 levels. Shale Response? The US is the world’s top oil producer and a fast-growing oil crude exporter. In fact, multiple major oil firms, including BP Plc (BP. L), Chevron CorpCVX +0.9% (CVX.N) and Exxon Mobil CorpXOM +1.5% (XOM.N), have publicly announced that they plan to ramp up output or shale spending next year in a bid to rebuff OPEC's oligopolistic supply management. The current energy doctrine calls for a green electrification to meet current domestic climate goals. However, the issues of intermittency and electricity storage remain unresolved and are at least two decades away from workable solutions. Those aspirations, while justified in the long run, however, must co-exist with the need to give Americans and the world affordable and reliable access to energy (and stave off inflation). Biden’s energy policy has only reduced the amount of influence we can exert on the OPEC cartel. If we continue to cede our influence and refuse to increase output when it is economically called for, we will place ourselves – and our European allies – in an untenable geo-economic position. While the US, with its ample hydrocarbon resources, can manage in the long term – it is strategically short-sighted to allow our European allies to become reliant on cheap Russian oil and gas. Biden is walking a difficult tightrope. Turning his back on his climate change commitments will certainly not play well with his Democratic base. At the same time, allowing oil and gas prices to skyrocket will inevitably result in Democratic losses for congressional elections in 2022 and could certainly play out in the 2024 presidential vote. The most amusing part is that by making it harder for american oil to do their job, it just forces america to buy more oil from the middle east, where it will get loaded onto a heavy polluting oil tanker and shipped half way across the world, resulting in higher emissions. The whole green movement in a nutshell really. It's all about being seen to be doing something, by fudging numbers on paper, when you are really doing nothing at all. Last edited by Bossxr8; 06-06-2022 at 02:30 PM. |
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#1590 | ||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 5,252
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A bit of relief at the pumps at the moment but its not going to last long.
https://au.yahoo.com/news/cba-woos-b...230316771.html |
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