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The slight change in world oil prices is entirely due to the cost of burning fuel to transport oil around a continent. There is literally no upside here.
by beloch 6y ago
The slight change in world oil prices is entirely due to the cost of burning fuel to transport oil around a continent. There is literally no upside here.
- graeme 6y agoFuel costs are well under 100% of transport costs. Well, well under. This says 20-40%, and ship costs are not the only costs associated with transport, so it’s an even smaller fraction of total cost. https://www.morethanshipping.com/imo-2020-and-oil-prices-in-shipping/ https://www.morethanshipping.com/imo-2020-and-oil-prices-in-... Moreover, the total energy being transported is surely much higher than the oil burned. That’s the key feature of oil....it is energy dense!