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Oil futures in 2020 were negatively priced so a rise and perturbations are to be expected. There can still be short-term rises amid a long-term decline. Are w
by aeternum 5y ago
Oil futures in 2020 were negatively priced so a rise and perturbations are to be expected. There can still be short-term rises amid a long-term decline.
Are we also going to declare climate change/global warming over after a single year drop in temp? I hope not.
- hammyhavoc 5y agoSaying this as the most ignorant sack-of-shit 28 year-old you're ever likely to meet, does this then mean that energy prices may indeed reduce over time and go back to their figure from several years ago in equivocal value once inflation is taken into consideration? And do you have any sources to show this has happened before?
- aeternum 5y agoYes, in inflation-adjusted (real) terms, energy costs have generally decreased. https://www.eia.gov/totalenergy/data/annual/showtext.php?t=ptb0810 https://www.eia.gov/totalenergy/data/annual/showtext.php?t=p... and https://www.in2013dollars.com/Electricity/price-inflation https://www.in2013dollars.com/Electricity/price-inflation Since electricity hasn't been around for that long (relatively), another way to look at it is the cost of light. We take it for granted but being able to do anything at night was really a luxury for the rich for much of human history: https://www.vox.com/2015/6/9/8749751/historic-cost-of-lighting https://www.vox.com/2015/6/9/8749751/historic-cost-of-lighti...
- hammyhavoc 5y agoYou're amazing for sharing this with me, thank you so much.