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Gas Just Hit $8 a Gallon in This Major US City
- stopbulying 7mo agoIraq was 1% of global oil production prior to Bush-Cheney Iraq War II. Why did global oil prices change so much post 2003? 2000s energy crisis / disaster https://en.wikipedia.org/wiki/2000s_energy_crisis https://en.wikipedia.org/wiki/2000s_energy_crisis > End of the crisis: > By the beginning of September 2008, prices had fallen to $110. OPEC [...] World oil market chronology from 2003 https://en.wikipedia.org/wiki/World_oil_market_chronology_from_2003 https://en.wikipedia.org/wiki/World_oil_market_chronology_fr... > From the mid-1980s to September 2003: under $25/barrel. 1998: $10 2004: $40-$60. A series of events led the price to 2005: $60 2006: $75 2007: $60-$99 2008: $141.75 14x higher price in 10 years How did costs change over that time given efficiency growth year over year Renewables are more lucrative with higher gas prices. High gas prices typically lead to consumer price inflation and then prices never go back down.
- stopbulying 7mo agoAnd also back then we had Enron speculating on electricity while there were rolling blackouts even for hospitals in CA. Tapes reveal Enron's secret role in California's power blackouts https://www.theguardian.com/business/2005/feb/05/enron.usnews https://www.theguardian.com/business/2005/feb/05/enron.usnew... > the energy corporation Enron shut down at least one power plant on false pretences, deliberately aggravating California's crippling 2001 blackouts with the aim of raising prices. Rolling blackout : USA : CA 2000-2001 https://en.wikipedia.org/wiki/Rolling_blackout https://en.wikipedia.org/wiki/Rolling_blackout Enron scandal: 2001 https://en.wikipedia.org/wiki/Enron_scandal https://en.wikipedia.org/wiki/Enron_scandal