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Iran's South Pars Gas Field Is Attacked by Israel, Sending Energy Prices Soaring
- ajay-b 7mo agoInteresting, who purchases Iranian oil given the sanctions? Ostensibly it would be those that would see the price increases?
- bdangubic 7mo agoecon 101 - supply and demand…
- drdec 7mo agoThose who were purchasing it need to go to the global market instead, increasing overall demand on that market
- thatswrong0 7mo agoChina buys 80% of Iran's shipped oil. But this affects the prices of pretty much anyone who imports oil - if China can't get oil from Iran, they'll purchase it from someone else. Less supply => higher prices for everyone.
- maxglute 7mo agoIt also affects China less, they have huge strategic reserve, and massive coal to petchem industry that only becomes economic after $80 barrel. AKA all other big industrial players are energy exporters who has pay spot price. High oil price = PRC competitive advantage on top of being able to brrrt EVs / batteries to displace oil.
- nickff 7mo agoChina is by far the largest customer for Iranian oil, with 'teapot' refiners being a very large proportion of that: https://www.reuters.com/article/idUSLDE63A01120100413/?pageNumber=1 https://www.reuters.com/article/idUSLDE63A01120100413/?pageN...
- wat10000 7mo agoPrices are about the future, not the present. Even if this didn't immediately effect anything, it could signal that other energy infrastructure is a potential target, or merely that the war is going to last longer.
- OgsyedIE 7mo agoChina has been buying Iranian crude and gas for many years, mostly due to simply needing as much as they can get. The eleven tankers that have so far transited the Strait of Hormuz after the 3rd without being fired upon are all owned by, operated by and delivering to Chinese state-owned companies (AFAIK). The Iranians know they are transiting and are deliberately refraining from shooting, because of the Chinese information support, such as the Mizar-run near-realtime satellite geolocation of parked US aircraft and radars for attack. This bit I'm adding is speculation but the likely role of the Marine detachment aboard the USS Tripoli which is currently being sent to the Gulf of Oman is to start sinking these China-bound tankers so as to use the offer of not sinking them to coerce China into supporting the reopening of rhe Strait.
- dingaling 7mo agoThere's no need for Marines to sink tankers, an SSN in the Gulf of Oman would do that neatly and deniably. "You mean to tell me you've lost another tanker? Crazy. Anyway, about this intelligence you're sending Iran..." Most likely the Marines are heading for Kharg Island.
- newspaper1 7mo ago[flagged]
- loeber 7mo ago[flagged]
- testing22321 7mo agoI mean, he’s not wrong.
- pack_stimulus 7mo ago[flagged]
- spamizbad 7mo agoSorry but this is on the United States. Israel's government has been wanting a show down with Iran for a while but we've typically functioned as the adult in the room to keep the piece - obviously that changed with Biden and now Trump, but Americans own this one.
- newspaper1 7mo agoI agree but it’s also on Israel. It was Israel that just bombed this gas field.
- SirFatty 7mo ago
- just-the-wrk 7mo agoI suspect I am financing this, both directly and indirectly, and I don't feel as though these actions represent my values or interests.
- dh2022 7mo agoThis feeling you have is representative democracy in action.
- deleted 7mo ago[deleted]
- Gud 7mo agoThere is nothing democratic about the USA. The sooner the American public realises this it can work towards building institutions not controlled by the rich and powerful.
- jacquesm 7mo agoThat will not happen unless there is a catastrophe and I would rather avoid that. At that same time that means we're stuck with this.
- testing22321 7mo agoYou’ll have to decide if a collapse and some short lived very large pain is better or worse that the endless medium pain you live now. Looking at other developed countries I know which I choose.
- jacquesm 7mo agoFortunately I don't have to choose. But yes, that is the balance.
- ZunarJ5 7mo agohttps://iranwarcost.com/ https://iranwarcost.com/
- iammjm 7mo agoThey are setting the world on fire and we will all pay the price
- karmakurtisaani 7mo agoBut for a brief beautiful moment they owned the libs. And distracted us from the fact they are pedophiles and rapists.
- ZunarJ5 7mo agoThis didn't have to happen. The world is less safe now because America loves bombing brown people more than it loves its own children.
- howard941 7mo ago[flagged]
- mrguyorama 7mo agoEven better, the people who voted for this insist that this is what Kamala was going to do! Which is why they had to vote against her! We got a broken and incompetent government because tens of millions of dumbasses apparently don't understand that lies exist, and that the guy who lies to your face every day will lie to your face!
- SirFatty 7mo ago[flagged]
- newspaper1 7mo agoYes, Iran should have nuclear weapons. This will deter Israel and make the world a safer place.
- nh23423fefe 7mo ago[flagged]
- SirFatty 7mo ago[flagged]
- nozzlegear 7mo agoTake me back to the last era of monoculture, when being a nuclear arms accelerationist would get you laughed out of the room.
- karmakurtisaani 7mo ago
- howard941 7mo agoI'm not sure why the US has refrained from lasing these optical recon birds. Is it a fear of escalation? How many have to die before it happens?
- epsters 7mo agoIsraeli Defense Minister said earlier today that “Significant surprises are expected today across all arenas that will escalate the war to a new level.” And now they have targeted the world's largest gas field (shared with Qatar). Iranians have said they would retaliate against oil fields and refineries in Israel and the Gulf. But since the majority of US air defenses have been diverted in defense of Israel it looks like the gulf arab states will bear the brunt of the retaliation. It looks like they have already successfully struck targets in Saudi Arabia[1] and Qatar[2]. This is the moral hazard in action as a result of unconditional support for the rogue-state that is Israel . Israel continues to escalate since they face little of the consequences - being under the US security umbrella. It is the rest of the world that pays the price instead (apart from Russia). In a sane world we would be changing this equation such as by pulling air defense, air support, lethal aid, air tankers support, EWACs, intelligence and satellite sharing, defense away from Israel. But the Trump administration and indeed the collective west seems to be under the chokehold of the Israel lobby. [1] - https://x.com/MenchOsint/status/2034348372346245584 https://x.com/MenchOsint/status/2034348372346245584 (alt : https://xcancel.com/MenchOsint/status/2034348372346245584 https://xcancel.com/MenchOsint/status/2034348372346245584 ) [2] - https://x.com/MenchOsint/status/2034340405060194649 https://x.com/MenchOsint/status/2034340405060194649 (alt : https://xcancel.com/MenchOsint/status/2034340405060194649 https://xcancel.com/MenchOsint/status/2034340405060194649)