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Energy prices everywhere are up. That is what happens when the global economy is bouncing back from a pandemic and one of the biggest energy suppliers in the wo

Energy prices everywhere are up. That is what happens when the global economy is bouncing back from a pandemic and one of the biggest energy suppliers in the world decides to embark on the first major land war in Europe in over 70 years.

nomel 4y ago
With the energy industry making record profits [1], my naive self has extreme trouble believing that's the whole story. https://energycommerce.house.gov/newsroom/press-releases/pallone-demands-answers-from-oil-companies-on-record-breaking-profits-amid https://energycommerce.house.gov/newsroom/press-releases/pal...
- ZeroGravitas 4y ago
  Why do you think that people who sell a commodity that has increased demand wouldn't make more money? There's no need for a conspiracy. The people who make money from the gas extracted and exported from Australia will profit at the expense of the average Australian who pays more for the gas extracted from under their own soil. You could vote to have them distribute the windfall profits to the people, if they didn't have such a stranglehold on your politicians. https://www.reuters.com/business/energy/australias-east-coast-may-face-gas-shortfall-next-year-watchdog-warns-2022-07-31/ https://www.reuters.com/business/energy/australias-east-coas... This is the same as many historical famines, where people starved to death while the crops grown in the same country were exported and sold overseas because rich, non-starving people can pay more than poor starving farmers. Banning or limiting exports might have helped in a roundabout way, but just not intentionally letting poor people starve to death would have been a simpler policy to implement.
  - Schroedingersat 4y ago
    Australia tried that whole voting for the profits to be distributed thing. The CIA gave them a new government that wouldn't be so silly as to enact public will. Then murdoch came along to make sure noone would vote based on reality anymore.
thrown_22 4y ago
So you're saying Russia made sunshine more expensive? Or did we secretly build nothing but gas power plants because renewable are so intermittent nothing else can be turned on and off fast enough, leading to rising electricity prices world wide even before the latest shock?
- albertopv 4y ago
  Russia is cutting gas supply, there's shortage for electricity generation and storage for winter, when a lot more of gas is used to heat buildings. Russia began cutting gas supply in june 2021 IIRC

nomel 4y ago

With the energy industry making record profits [1], my naive self has extreme trouble believing that's the whole story. https://energycommerce.house.gov/newsroom/press-releases/pallone-demands-answers-from-oil-companies-on-record-breaking-profits-amid https://energycommerce.house.gov/newsroom/press-releases/pal...

ZeroGravitas 4y ago
Why do you think that people who sell a commodity that has increased demand wouldn't make more money? There's no need for a conspiracy. The people who make money from the gas extracted and exported from Australia will profit at the expense of the average Australian who pays more for the gas extracted from under their own soil. You could vote to have them distribute the windfall profits to the people, if they didn't have such a stranglehold on your politicians. https://www.reuters.com/business/energy/australias-east-coast-may-face-gas-shortfall-next-year-watchdog-warns-2022-07-31/ https://www.reuters.com/business/energy/australias-east-coas... This is the same as many historical famines, where people starved to death while the crops grown in the same country were exported and sold overseas because rich, non-starving people can pay more than poor starving farmers. Banning or limiting exports might have helped in a roundabout way, but just not intentionally letting poor people starve to death would have been a simpler policy to implement.
- Schroedingersat 4y ago
  Australia tried that whole voting for the profits to be distributed thing. The CIA gave them a new government that wouldn't be so silly as to enact public will. Then murdoch came along to make sure noone would vote based on reality anymore.

thrown_22 4y ago

So you're saying Russia made sunshine more expensive? Or did we secretly build nothing but gas power plants because renewable are so intermittent nothing else can be turned on and off fast enough, leading to rising electricity prices world wide even before the latest shock?

albertopv 4y ago
Russia is cutting gas supply, there's shortage for electricity generation and storage for winter, when a lot more of gas is used to heat buildings. Russia began cutting gas supply in june 2021 IIRC