Can anyone speak to the long term impacts of this? Like is gas going to remain high for years (or even worse get rationed) and I should trade in for an EV now?
The main point of news I heard was that the Iran infrastructure the US destroyed, in a time where they are allowed to repair it and not just get bombed again, will take three years to repair. Oil prices don't get "cheap" again this side of 2030. Not to mention that there is a bunch of Russian infrastructure that is still on the chopping block to be destroyed by Ukraine as that war continues. Which has the same time it takes to rebuild issues.
> well, except oil executives and shareholders, I guess
They should be sued by governments, they can only make more money if they artificially increase their margin, if they simply passed the cost down to the consumers they shouldn't have record profits
Even if they didn't react to the natural demand/offer dynamic, American refineries are processing 30-40% more volume than before; that means US oil companies are making money that someone else was making before.
bix6 · · focus · HN ↗
Fordec · · focus · HN ↗
toyg · · focus · HN ↗
The longer this stupid war continues, the worse off everyone will get (well, except oil executives and shareholders, I guess).
toasty228 · · focus · HN ↗
They should be sued by governments, they can only make more money if they artificially increase their margin, if they simply passed the cost down to the consumers they shouldn't have record profits
toyg · · focus · HN ↗