Gas prices in Trinidad & Tobago

[hover11]

mia: in these trying economic times, post covee, we will drop fuel prices to ease the strain on citizens, and keep the economic wheels turning.
imburt: ekonomee going so well, take a price jam.

lefff foot, ritttte foot.

After the lowered fuel prices in Barbados gas is TT$13.89/liter
After the increase in fuel prices in T&T gas is TT$6.75/liter

Barbados isn't involved in oil and gas, so there's that...

Apparently barbados has a refinery that wasting away and rusting up.....

[eliteauto]

mia: in these trying economic times, post covee, we will drop fuel prices to ease the strain on citizens, and keep the economic wheels turning.
imburt: ekonomee going so well, take a price jam.

lefff foot, ritttte foot.

After the lowered fuel prices in Barbados gas is TT$13.89/liter
After the increase in fuel prices in T&T gas is TT$6.75/liter

Barbados isn't involved in oil and gas, so there's that...

Apparently barbados has a refinery that wasting away and rusting up.....

Is the US in oil and gas? Do they have active refineries? What about Canada? England?

[hover11]

mia: in these trying economic times, post covee, we will drop fuel prices to ease the strain on citizens, and keep the economic wheels turning.
imburt: ekonomee going so well, take a price jam.

lefff foot, ritttte foot.

After the lowered fuel prices in Barbados gas is TT$13.89/liter
After the increase in fuel prices in T&T gas is TT$6.75/liter

Barbados isn't involved in oil and gas, so there's that...

Apparently barbados has a refinery that wasting away and rusting up.....

Is the US in oil and gas? Do they have active refineries? What about Canada? England?

The US has oil though, they hoard lots of oil and use from other countries to preserve what they do have

[The_Honourable]

Big bachanal when KFC charging for condiments but gas prices gone up and yuh could hear a pin drop....the silence is deafening

"BEcaUEe iT haPpEniNg eVeRywhEre elSE" - pnm fb sheep

[adnj]

mia: in these trying economic times, post covee, we will drop fuel prices to ease the strain on citizens, and keep the economic wheels turning.
imburt: ekonomee going so well, take a price jam.

lefff foot, ritttte foot.

After the lowered fuel prices in Barbados gas is TT$13.89/liter
After the increase in fuel prices in T&T gas is TT$6.75/liter

Barbados isn't involved in oil and gas, so there's that...

Apparently barbados has a refinery that wasting away and rusting up.....

Is the US in oil and gas? Do they have active refineries? What about Canada? England?

And UAE, Canada, Mexico, and Guyana (with no refinery). All with gasoline prices higher than the increased Trini prices.

[The_Honourable]

By Economist Vaalmiki Arjoon

The state is not only incurring a higher fuel subsidy bill, but is also importing refined fuel at a higher price. At the same time, they are earning higher revenues for energy exports, not just for oil but also gas and energy derivatives such as ammonia, methanol etc.

Increasing fuel prices at the pump at this stage is very premature and shows that the decision makers are clueless of the hardships that the business community and households at large are still facing because of the pandemic. It is also a very counterintuitive step, as very recently they indicated that economy is performing well. They should have at least waited till the end of the fiscal year to gauge our true fiscal status and the financial stress levels of the private sector before taking such a decision.

It was essential for the state to apply hedging strategies in the energy sector in the last few years – using hedging instruments, we could have locked-in lower prices for fuel from the international market when the prices were low in 2020 and earlier in 2021, allowing us to buy fuel at a previously agreed lower price. Therefore, the prices at the pump would have been offset by the profits from the hedge allowing the consumer to benefit from not having to pay more at the pump.

Further, Paria should not be the only entity allowed to import fuel. Other entities should be allowed to import as well so the pricing mechanism will be more competitive at the pump and allow for cost savings.

Indeed, the pandemic has caused the purchasing power for many middle-to-lower income households to take a serious hit due to job losses and salary reductions.

Prices globally have surged since mid-2021 due to supply chain hurdles including shortages in raw materials and finished goods imported for retail purposes locally. Shipping costs from Asia has swelled by over 500%! Logjams at many international ports have created delays compounding shortages and pushing prices up even further.

The Russia/Ukraine conflict has set off a wave of food shortages, especially for grains – Russia and Ukraine account for over a quarter and one fifth of global wheat and corn exports, but countries have switched to other economies to import these and other grains, including the US, the EU, Argentina and Brazil, which in turn pushed up the prices of these items. Wheat prices have increased by 42% since Feb 16th, and there is now supply chaos with food prices increasing at the fastest pace in history piling on more inflationary pain globally. Countries like Indonesia and Argentina have started to limit the amount of food exported to other countries, to ensure their own food security first. All these compound prices and consumers locally are already feeling the brunt of this in their shopping baskets. An increase in the cost of fuel will only compound their cost of living further.

All segments of the business community rely on fuel, and a higher cost will cause them to push up the prices they charge to consumers even further. Already manufacturers are faced with higher prices of raw materials, exorbitant shipping costs and delays due to port logjams from China – the increased cost of fuel will compound their costs of doing business further. All these factors taken together can hamper their competitiveness, more so for the SMEs who will bear the worse brunt. Indeed, their profitability will be further worsened – higher prices cause lower spending, which not only affects sales revenues but also limits the purchasing power for lower income households further and exacerbates poverty.

Source: https://www.facebook.com/vaalmikki.arjo ... 4067998088

[sMASH]

mia: in these trying economic times, post covee, we will drop fuel prices to ease the strain on citizens, and keep the economic wheels turning.
imburt: ekonomee going so well, take a price jam.

lefff foot, ritttte foot.

After the lowered fuel prices in Barbados gas is TT$13.89/liter
After the increase in fuel prices in T&T gas is TT$6.75/liter

if u accustomed paying a certain rate, the change is what makes the difference. ah man paying 100k for a subie, then having to pay 120k is worse than a man paying 200k then having to pay 180k.

plus, we selling crude. why not use the wind fall from that to offset the fuel prices more.

we have a pitchlake, do we not sell pitch?

we have more tourist attraction in tobago alone, than barbados, how come we hadda struggle. we also export food products, on a larger scale than barbados.


the reason why we up the creek without a paddle is leffff foot ritttte foot management

[sMASH]

do we import cooking gas/lpg? why on earth woudl that price raising be an issue.
the gas it takes the power gen plants to generate electricity comes from trinidad soil. unless it gets exported the imported back to sell to NGC, there is no reason for local electricity rates to go up, or even be on par with other caribbean islands.. who have to IMPORT their fuels.

[adnj]

Tight Oil Markets Are Sending Fuel Margins Through The Roof | OilPrice.com

High fuel prices could ultimately erode global demand for crude oil.

Diesel and jet fuel stocks are at historic lows, and seasonally-adjusted inventory draws are large and accelerating.

Explicit EU sanctions on Russian oil imports would keep Russian output below 8.5mb/d for several years and introduce further downside to already low expectations for Russian oil output.

Fuel margins might remain elevated for many months, if not years.

Tight Oil Markets Are Sending Fuel Margins Through The Roof | OilPrice.com

By Alex Kimani - Apr 08, 2022, 6:00 PM CDT

Oil prices have dominated headlines in recent weeks, but the most dramatic action has been happening in a hidden corner of the market.

Distillate fuel prices are breaking records left and right.

High fuel prices could ultimately erode global demand for crude oil.

The oil price rally has really cooled down over the past two weeks, with oil prices declining to levels last seen prior to Russia's invasion of Ukraine. Brent oil (CO1:COM) prices fell ~2% Thursday to trade below $100/b, while the price for a barrel of Brent for June 2022 delivery has fallen from $127/b one month ago to $99/b today. Pandemic-related lockdowns in Shanghai, slowing U.S. oil demand growth, and a historic strategic petroleum reserve release have all contributed to the selloff. Interestingly, medium-term prices have hardly budged as near-term oil prices have fallen by over 20%, indicating a still-bullish longer-term outlook.

That said, whereas it's crude markets that have been hogging the limelight, the most dramatic action in global oil markets has been happening in a more hidden corner of the market: distillate fuels.

The price of diesel and jet fuel in Europe hit a record in early March amid unusually tight supplies. Both commodities have since pared some of their gains, but refiners are still making a killing.

Indeed, in another sign of impending distillate fuel shortages, jet fuel traded at ~$320/b in New York on Monday ($7.61/g), a massive ~$200+ premium to crude feedstock prices. The jet fuel premium is currently ~10x larger than any premium seen in the past 30yrs. 

High Fuel Margins To Last

There's a good chance that high fuel prices will ultimately lead to demand destruction. However, Goldman Sachs says distillate fuel demand is likely to remain strong and margins to remain high due to these factors:

Diesel and jet fuel stocks are at historic lows, and seasonally-adjusted inventory draws are large and accelerating.

Jet fuel consumption is poised to accelerate into summer with a return to international travel.

High natural gas prices will lead to "gas-to-oil" switching in Europe and Asia.

The Russia / Ukraine war will reduce distillate supply, as Russia exports ~900kb/d of diesel fuel and ~900kb/d of residual feedstocks, which are largely upgraded into diesel by European and Chinese refiners.

Refinery operating costs are increasing, particularly in Europe.

In fact, Goldman sees current record margins sustaining through at least year end. In the U.S., names like Par Pacific (NYSE:PARR), Valero Energy Corp. (NYSE:VLO), Marathon Petroleum Corp. (NYSE:MPC )and Phillips 66 (NYSE:PSX) stand to benefit from higher refining margins while in Europe, Saras (OTCPK:SAAFY) is most exposed. 

Meanwhile, during its Q1 earnings preview, Shell (NYSE:RDS.A) mentioned improving refining margins, with indicators nearly doubling quarter over quarter.

Falling Russian Exports

Another reason to be bullish about fuel margins: falling Russian exports.

Russia is a key source of distillate fuel for Europe and the world. Shortly after the war began, BP Plc (NYSE:BP) and Shell (NYSE:RDS.A) stopped selling spot diesel in Germany. Last week, Argentina’s YPF Sociedad Anónima (NYSE:YPF) cited diesel "scarcity" in the seaborne market. Jet fuel margins in New York harbor rose to $200/b earlier in the week, a ten-fold increase from historic averages.

Attempts to measure the impact of self sanctioning on Russian exports have seen mixed results, with some studies suggesting that exports have largely continued to flow unchanged while others say they could have declined by as much as 3.0mb/d. Thus far, the only measurable impact on exports has come from a terminal outage—a terminal that primarily carries Kazakhstani crude to market.

So far, Russia's pivotal energy sector has been largely spared from sanctions. But damning evidence of serious war crimes coming from Ukraine suggests that Russia could very well face more severe sanctions, including a ban on its oil by European nations.

Since Russian forces withdrew from northern Ukraine, turning their assault on the south and east, grim images from the town of Bucha near Kyiv, including a mass grave and bound bodies of people shot at close range, have prompted international outrage.

Commodity analysts at Standard Chartered estimate that a move towards explicit EU sanctions on Russian oil imports would keep Russian output below 8.5mb/d for several years, good for a 3mb/d decline compared to pre-invasion levels,  and introduce further downside to already low expectations for Russian oil output. According to StanChart, the EU's most likely immediate measure--i.e., imposing sanctions on coal--will do little to placate member states and public opinion for a significant ratcheting up of the pressure on Russia.

Further, EU sanctions on Russian oil and gas would send a strong signal that Russian oil is unlikely to regain its former market in Europe for an extended period, if ever. EU sanctions will also likely increase the pressure on key countries, and particularly India, not to increase their imports from Russia above pre-invasion levels; up to now, part of the pushback from other users of Russian oil has been that they could not be expected to refrain from extra purchases if EU governments were not explicitly limiting their own use.

In other words, fuel margins might remain elevated for many months, if not years.

https://oilprice.com/Energy/Gas-Prices/ ... -Roof.html

[zoom rader]

mia: in these trying economic times, post covee, we will drop fuel prices to ease the strain on citizens, and keep the economic wheels turning.
imburt: ekonomee going so well, take a price jam.

lefff foot, ritttte foot.

After the lowered fuel prices in Barbados gas is TT$13.89/liter
After the increase in fuel prices in T&T gas is TT$6.75/liter

Barbados isn't involved in oil and gas, so there's that...

Apparently barbados has a refinery that wasting away and rusting up.....

Is the US in oil and gas? Do they have active refineries? What about Canada? England?

I see what u did there, but contine being the Tun Tun that you are.

We have enough oil and gas to protect ourselves from any world prices.

The red government has destroyed a once working operation by being greedy instead of seeing about citizens and the local market.

[zoom rader]

do we import cooking gas/lpg? why on earth woudl that price raising be an issue.
the gas it takes the power gen plants to generate electricity comes from trinidad soil. unless it gets exported the imported back to sell to NGC, there is no reason for local electricity rates to go up, or even be on par with other caribbean islands.. who have to IMPORT their fuels.

Ask Eliteauto-Tun Tun, he's now the mouth piece of the red government.

[adnj]

mia: in these trying economic times, post covee, we will drop fuel prices to ease the strain on citizens, and keep the economic wheels turning.
imburt: ekonomee going so well, take a price jam.

lefff foot, ritttte foot.

After the lowered fuel prices in Barbados gas is TT$13.89/liter
After the increase in fuel prices in T&T gas is TT$6.75/liter

Barbados isn't involved in oil and gas, so there's that...

Apparently barbados has a refinery that wasting away and rusting up.....

Is the US in oil and gas? Do they have active refineries? What about Canada? England?

I see what u did there, but contine being the Tun Tun that you are.

We have enough oil and gas to protect ourselves from any world prices.

The red government has destroyed a once working operation by being greedy instead of seeing about citizens and the local market.

That's caveman thinking. Sell the oil while you can and switch to renewables. The rest of the world is moving away from fossil fuels.

[timelapse]

mia: in these trying economic times, post covee, we will drop fuel prices to ease the strain on citizens, and keep the economic wheels turning.
imburt: ekonomee going so well, take a price jam.

lefff foot, ritttte foot.

After the lowered fuel prices in Barbados gas is TT$13.89/liter
After the increase in fuel prices in T&T gas is TT$6.75/liter

Barbados isn't involved in oil and gas, so there's that...

Apparently barbados has a refinery that wasting away and rusting up.....

Is the US in oil and gas? Do they have active refineries? What about Canada? England?

I see what u did there, but contine being the Tun Tun that you are.

We have enough oil and gas to protect ourselves from any world prices.

The red government has destroyed a once working operation by being greedy instead of seeing about citizens and the local market.

That's caveman thinking. Sell the oil while you can and switch to renewables. The rest of the world is moving away from fossil fuels.

This is Trinidad and Tobago.
We don't even care about recycling, we go study renewables? Big oil has all the politicians in their pocket.They pillage our resources while fools study how Hyatt pack out for carnival.

[adnj]

Gasoline Subsidy To Cost Nigeria 10 Times More Than Budgeted | OilPrice.com

By Julianne Geiger - Apr 08, 2022, 3:30 PM CDT

The rising cost of crude oil will increase the cost of Nigeria’s gasoline subsidy by nearly ten times what it had originally budgeted, Nigeria’s President Muhammadu Buhari said in a recent letter to lawmakers.

Nigeria’s Petroleum Motor Spirit subsidy is now set to cost 4 trillion naira this year, or $9.6 billion. This compares to Nigeria’s previous projections, which called for just 443 billion naira in gasoline subsidies.

Even though Nigeria is a major producer of crude oil, the high price of crude oil has come with drawbacks for Africa’s largest crude oil producer. Nigeria swaps at least a portion of its crude oil for gasoline—which it then sells at a loss.

Nigeria imports nearly all of the gasoline it consumes. And with today’s high prices, Nigeria is selling this gasoline at a very steep loss in order to keep gasoline prices at 162.5 naira per liter (39 cents). For perspective, in 2020, Nigeria’s petroleum imports exceeded its exports by $43 billion.

The letter, dated April 6 and seen by Bloomberg, called on lawmakers to increase the amount budgeted to continue subsidizing the price of gasoline.

Nigeria is in the midst of a fuel crisis that has seen vehicles lined up at gas stations to fuel up, in part due to its lack of refinery output, and in part due to some substandard gasoline it had imported earlier this year, which contained too much methanol.

Nigeria’s President signed a law last August that would end the costly gasoline subsidies by February 2022 but later reversed this notion, instead extending them for 18 more months to stave off fuel protests.

Nigeria has just four crude oil refineries with a combined nameplate capacity of 445,000 bpd—enough to meet domestic demand. But the state of disrepair of Nigeria’s refineries means it must still import 80% of all its refined products. A new 650,000 bpd refinery in Nigeria is expected to begin production in the fourth quarter of this year.

https://oilprice.com/Latest-Energy-News ... geted.html

[hover11]

Yawwnnnn....Allya get on so bad when KFC sold condiments. Gas raise again.again and AGAIN.

Where allya?

[zoom rader]

mia: in these trying economic times, post covee, we will drop fuel prices to ease the strain on citizens, and keep the economic wheels turning.
imburt: ekonomee going so well, take a price jam.

lefff foot, ritttte foot.

After the lowered fuel prices in Barbados gas is TT$13.89/liter
After the increase in fuel prices in T&T gas is TT$6.75/liter

Barbados isn't involved in oil and gas, so there's that...

Apparently barbados has a refinery that wasting away and rusting up.....

Is the US in oil and gas? Do they have active refineries? What about Canada? England?

I see what u did there, but contine being the Tun Tun that you are.

We have enough oil and gas to protect ourselves from any world prices.

The red government has destroyed a once working operation by being greedy instead of seeing about citizens and the local market.

That's caveman thinking. Sell the oil while you can and switch to renewables. The rest of the world is moving away from fossil fuels.

Rest of the world leads u in debt

Renewables is a Con job that idiot nations are hoodwinked in to accepting , lots of money to be made from fools.

Ever wonder why solar failed in the Sahara and las Vegas?

Ever wonder why wind Turbines failed in Scotland?

The only clean energy that is reliable all depends on the supply of water is Hydro dams.

Solar upfront is Cheaper, but the cost on maintenance offsets that for commercial use.

Cayman Islands regrets buying solar as it only supplies a faction of power 5MW in part of 140MW which can only be used during the day. It is just not cost effective.

Fossil fuels is here to stay until the Airline and Shipping industries can find a real cost effective alternative.

Contine being conned by renewables and by bull5hit global warming to sell u the sun.

Awaiting the day for the sale on Air

[adnj]

mia: in these trying economic times, post covee, we will drop fuel prices to ease the strain on citizens, and keep the economic wheels turning.
imburt: ekonomee going so well, take a price jam.

lefff foot, ritttte foot.

After the lowered fuel prices in Barbados gas is TT$13.89/liter
After the increase in fuel prices in T&T gas is TT$6.75/liter

Barbados isn't involved in oil and gas, so there's that...

Apparently barbados has a refinery that wasting away and rusting up.....

Is the US in oil and gas? Do they have active refineries? What about Canada? England?

I see what u did there, but contine being the Tun Tun that you are.

We have enough oil and gas to protect ourselves from any world prices.

The red government has destroyed a once working operation by being greedy instead of seeing about citizens and the local market.

That's caveman thinking. Sell the oil while you can and switch to renewables. The rest of the world is moving away from fossil fuels.

Rest of the world leads u in debt

Renewables is a Con job that idiot nations are hoodwinked in to accepting , lots of money to be made from fools.

Ever wonder why solar failed in the Sahara and las Vegas?

Ever wonder why wind Turbines failed in Scotland?

The only clean energy that is reliable all depends on the supply of water is Hydro dams.

Solar upfront is Cheaper, but the cost on maintenance offsets that for commercial use.

Cayman Islands regrets buying solar as it only supplies a faction of power 5MW in part of 140MW which can only be used during the day. It is just not cost effective.

Fossil fuels is here to stay until the Airline and Shipping industries can find a real cost effective alternative.

Contine being conned by renewables and by bull5hit global warming to sell u the sun.

Awaiting the day for the sale on Air

Everybody is stupid but you? No.

Oil's here to stay in what volumes? Lower.

From Deep Crisis, Profound Change

An assessment of the dynamics accelerating the global sprint away from fossil fuels in the wake of Putin’s War

https://rmi.org/insight/from-deep-crisi ... nd-change/

[zoom rader]

After the lowered fuel prices in Barbados gas is TT$13.89/liter
After the increase in fuel prices in T&T gas is TT$6.75/liter

Barbados isn't involved in oil and gas, so there's that...

Apparently barbados has a refinery that wasting away and rusting up.....

Is the US in oil and gas? Do they have active refineries? What about Canada? England?

I see what u did there, but contine being the Tun Tun that you are.

We have enough oil and gas to protect ourselves from any world prices.

The red government has destroyed a once working operation by being greedy instead of seeing about citizens and the local market.

That's caveman thinking. Sell the oil while you can and switch to renewables. The rest of the world is moving away from fossil fuels.

Rest of the world leads u in debt

Renewables is a Con job that idiot nations are hoodwinked in to accepting , lots of money to be made from fools.

Ever wonder why solar failed in the Sahara and las Vegas?

Ever wonder why wind Turbines failed in Scotland?

The only clean energy that is reliable all depends on the supply of water is Hydro dams.

Solar upfront is Cheaper, but the cost on maintenance offsets that for commercial use.

Cayman Islands regrets buying solar as it only supplies a faction of power 5MW in part of 140MW which can only be used during the day. It is just not cost effective.

Fossil fuels is here to stay until the Airline and Shipping industries can find a real cost effective alternative.

Contine being conned by renewables and by bull5hit global warming to sell u the sun.

Awaiting the day for the sale on Air

Everybody is stupid but you? No.

Oil's here to stay in what volumes? Lower.

From Deep Crisis, Profound Change

An assessment of the dynamics accelerating the global sprint away from fossil fuels in the wake of Putin’s War

https://rmi.org/insight/from-deep-crisi ... nd-change/

Airline and Shipping industries will Continue to use fossil fuels until a cost effective alternative can be found.

Big industries are there to make money cheaply and its the reason why the transportation industries think twice about renewables cost in the long run.

Continue to believe the con that they want to sell you.

[adnj]

Barbados isn't involved in oil and gas, so there's that...

Apparently barbados has a refinery that wasting away and rusting up.....

Is the US in oil and gas? Do they have active refineries? What about Canada? England?

I see what u did there, but contine being the Tun Tun that you are.

We have enough oil and gas to protect ourselves from any world prices.

The red government has destroyed a once working operation by being greedy instead of seeing about citizens and the local market.

That's caveman thinking. Sell the oil while you can and switch to renewables. The rest of the world is moving away from fossil fuels.

Rest of the world leads u in debt

Renewables is a Con job that idiot nations are hoodwinked in to accepting , lots of money to be made from fools.

Ever wonder why solar failed in the Sahara and las Vegas?

Ever wonder why wind Turbines failed in Scotland?

The only clean energy that is reliable all depends on the supply of water is Hydro dams.

Solar upfront is Cheaper, but the cost on maintenance offsets that for commercial use.

Cayman Islands regrets buying solar as it only supplies a faction of power 5MW in part of 140MW which can only be used during the day. It is just not cost effective.

Fossil fuels is here to stay until the Airline and Shipping industries can find a real cost effective alternative.

Contine being conned by renewables and by bull5hit global warming to sell u the sun.

Awaiting the day for the sale on Air

Everybody is stupid but you? No.

Oil's here to stay in what volumes? Lower.

From Deep Crisis, Profound Change

An assessment of the dynamics accelerating the global sprint away from fossil fuels in the wake of Putin’s War

https://rmi.org/insight/from-deep-crisi ... nd-change/

Airline and Shipping industries will Continue to use fossil fuels until a cost effective alternative can be found.

Big industries are there to make money cheaply and its the reason why the transportation industries think twice about renewables cost in the long run.

Continue to believe the con that they want to sell you.

Keep hanging on to shitt that only seems to make sense but doesn't make sense at all.

Here's some pre-COVID info for you to ignore.

Fuels in Aviation and Shipping

The aviation industry represents 7.8% of final oil consumption worldwide, while maritime shipping accounts for 6.7%. Consumption by the aviation industry is growing the most rapidly – in fact, up until the early 1980s, it was responsible for less energy use than shipping. Both figures pale in comparison to road transportation (passenger cars and freight vehicles), which represents 49.3% of global final consumption.

https://www.planete-energies.com/en/med ... d-shipping

[hover11]

What all this have to do with the topic at hand ....probably kfc should have announced the gas price increase, it hasn't sunk in yet for most


Why riot? The Govt increased it 3-4 times prior, even laughed on top of it, we didnt riot.. as a matter of fact, we bent over and took the bamboo because we like it so and they take good care of us...

Take your red jerseys and shove it.

[zoom rader]

What all this have to do with the topic at hand ....probably kfc should have announced the gas price increase, it hasn't sunk in yet for most

The plastics that contains the ketchup is made from oil.

They want you to believe in renewables but the hardware is all made from oils

[adnj]

What all this have to do with the topic at hand ....probably kfc should have announced the gas price increase, it hasn't sunk in yet for most

The plastics that contains the ketchup is made from oil.

They want you to believe in renewables but the hardware is all made from oils

They are saying that within ten years, the world demand for crude oil will decline.

They project that many of the uses for refined crude oil will not disappear but the half that is used for automobile fuels will continue to decline as automobiles move from ICE to PE.

They project that reliance on all fossil fuels will diminish in the coming years as other energy generation and storage technologies further mature bringing with them reduced costs that will continue to erode fossil fuel demand.

They are the fossil fuel companies that are rapidly diversifying away from fossil fuels and into energy.

The points you stubbornly continue to espouse may be valid. But the very companies that do the actual drilling say that you're wrong.

Glide path for oil and gas production.

So, as a rough estimate, the numbers suggest a 32% drop in natural gas by 2035 and a 24% drop in crude oil production by 2040. The natural gas drop is based on a federal government goal, which will likely require a carbon-pricing mechanism to succeed. The oil drop in crude oil is based on a comprehensive modeling study of the uptake of electric vehicles by 2040.

A glide path is a picturesque way of describing a gradual transition to lower oil and gas production. The most common landing strip is the date of 2050, which has generally been adopted as the goal for net-zero emissions of GHG.

But in this article the glide path has an altitude drop of 32% by 2035 for natural gas, and an altitude drop of 24% by 2040 for crude oil.

These percentages are likely to be lower limits. So when oil and gas companies talk about their recovery from the pandemic and associated oil price plunges, and wells that were shut-in in 2020, their reasoning is to keep profits and job numbers stable.

Such reasoning is in conflict with the simple supply and demand picture presented above. In the US, if demand falls in electrical and transport sectors, then supply is likely to follow in the form of cuts to oil and gas production.

This picture finds support when the federal government raises climate change to a “crisis” stature and a new groundswell for climate action appears amongst the US population. It might be wise for oil and gas companies to adopt a proactive stance and see what changes could be made in their business, as uncomfortable as that might be.

The simplest way forward might be for oil and gas companies to diversify into renewable energies.

https://www.forbes.com/sites/ianpalmer/ ... 6fbc76170e

[zoom rader]

What all this have to do with the topic at hand ....probably kfc should have announced the gas price increase, it hasn't sunk in yet for most

The plastics that contains the ketchup is made from oil.

They want you to believe in renewables but the hardware is all made from oils

They are saying that within ten years, the world demand for crude oil will decline.

They project that many of the uses for refined crude oil will not disappear but the half that is used for automobile fuels will continue to decline as automobiles move from ICE to PE.

They project that reliance on all fossil fuels will diminish in the coming years as other energy generation and storage technologies further mature bringing with them reduced costs that will continue to erode fossil fuel demand.

They are the fossil fuel companies that are rapidly diversifying away from fossil fuels and into energy.

The points you stubbornly continue to espouse may be valid. But the very companies that do the actual drilling say that you're wrong.

Glide path for oil and gas production.

So, as a rough estimate, the numbers suggest a 32% drop in natural gas by 2035 and a 24% drop in crude oil production by 2040. The natural gas drop is based on a federal government goal, which will likely require a carbon-pricing mechanism to succeed. The oil drop in crude oil is based on a comprehensive modeling study of the uptake of electric vehicles by 2040.

A glide path is a picturesque way of describing a gradual transition to lower oil and gas production. The most common landing strip is the date of 2050, which has generally been adopted as the goal for net-zero emissions of GHG.

But in this article the glide path has an altitude drop of 32% by 2035 for natural gas, and an altitude drop of 24% by 2040 for crude oil.

These percentages are likely to be lower limits. So when oil and gas companies talk about their recovery from the pandemic and associated oil price plunges, and wells that were shut-in in 2020, their reasoning is to keep profits and job numbers stable.

Such reasoning is in conflict with the simple supply and demand picture presented above. In the US, if demand falls in electrical and transport sectors, then supply is likely to follow in the form of cuts to oil and gas production.

This picture finds support when the federal government raises climate change to a “crisis” stature and a new groundswell for climate action appears amongst the US population. It might be wise for oil and gas companies to adopt a proactive stance and see what changes could be made in their business, as uncomfortable as that might be.

The simplest way forward might be for oil and gas companies to diversify into renewable energies.

https://www.forbes.com/sites/ianpalmer/ ... 6fbc76170e

USA and China thinks different from the rest of the world. You never hear them subscribe away from fossil fuels.

Europe is pushing this change as they have with Slavery with colonisation. They sold that dream and now they selling the renewable dream.

Contine

[bluefete]

https://edition.cnn.com/2022/04/09/busi ... index.html

From Pakistan to Peru, soaring food and fuel prices are tipping countries over the edge
Julia Horowitz byline
By Julia Horowitz, CNN Business

Updated 0858 GMT (1658 HKT) April 9, 2022

London (CNN Business)When people took to the streets in Egypt in 2011, protesters chanted about freedom and social justice — but also bread. The cost of pantry staples had jumped because of the skyrocketing price of goods like wheat, stoking fury with President Hosni Mubarak.

Now, more than a decade after the Arab Spring, global food prices are soaring again. They had already reached their highest level on record earlier this year as the pandemic, poor weather and the climate crisis upended agriculture and threatened food security for millions of people.

Then came Russia's war in Ukraine, making the situation much worse — while also triggering a spike in the cost of the other daily essential, fuel.

The combination could generate a wave of political instability, as people who were already frustrated with government leaders are pushed over the edge by rising costs.


"It is extremely worrisome," said Rabah Arezki, a senior fellow at Harvard's Kennedy School of Government and former chief economist at the African Development Bank.

Unrest in Sri Lanka, Pakistan and Peru over the past week highlights the risks.

In Sri Lanka, protests have erupted over shortages of gas and other basic goods. Double-digit inflation in Pakistan has eroded support for Prime Minister Imran Khan, who is clinging to power.

At least six people have died in recent anti-government protests in Peru sparked by rising fuel prices. But political conflict isn't expected to be limited to these countries.

"I don't think people have felt the full impact of rising prices just yet," said Hamish Kinnear, a Middle East and North Africa analyst at Verisk Maplecroft, a global risk consultancy.

Lessons from the Arab Spring
In the run-up to the anti-government protests that became known as the Arab Spring — which began in Tunisia in late 2010 and spread through the Middle East and North Africa in 2011 — food prices were climbing sharply. The Food Price Index from the United Nations' Food and Agriculture Organization reached 106.7 in 2010 and jumped to 131.9 in 2011, then a record.

"Mohamed Bouazizi didn't set himself on fire because he couldn't blog or vote," an Emirati commentator wrote in January 2011, referring to the street vendor whose protest act helped launch the revolution in Tunisia and, ultimately, the Arab world.

"People set themselves on fire because they can't stand seeing their family wither away slowly, not of sorrow, but of cold stark hunger."

Circumstances in individual countries differed, but the bigger picture was clear. Surging wheat prices were a major part of the problem.

The situation now is even worse than it was then. Global food prices have just hit a new record high.

The FAO Food Price Index published Friday hit 159.3 in March, up almost 13% from February. The war in Ukraine, a major exporter of wheat, corn and vegetable oils, as well as harsh sanctions on Russia — a key producer of wheat and fertilizer — is expected to spur further price increases in the coming months.

"Forty percent of wheat and corn exports from Ukraine go to the Middle East and Africa, which are already grappling with hunger issues, and where further food shortages or price increases could stoke social unrest," Gilbert Houngbo, head of the International Fund for Agricultural Development, said last month.

Adding to the pain is the surge in energy prices. Global oil prices are almost 60% higher than they were a year ago. The cost of coal and natural gas has spiked, too.

Many governments are struggling to protect their citizens, but fragile economies that borrowed heavily to make it through the 2008 financial crisis and the pandemic are most vulnerable. As growth slows, hurting their currencies and making it harder to keep up with debt payments, maintaining subsidies for food and fuel will be difficult, especially if prices keep climbing.

"We are now in a situation where countries are indebted," Arezki said. "As a result, they have no buffers to try to contain the tensions that will emerge from such high prices."

According to the World Bank, close to 60% of the poorest countries were "already in debt distress or at high risk of it" on the eve of the invasion of Ukraine.

Where tensions are simmering

Asia: In Sri Lanka, an island nation of 22 million, an economic and political crisis is already boiling over, with protesters taking to the streets in defiance of curfews and government ministers stepping down en masse.

Grappling with high debt levels and a weak economy reliant on tourism, Sri Lanka was forced to run down its reserves of foreign currency. That prevented the government from making payments for key imports such as energy, creating devastating shortages and forcing people to spend hours lining up for fuel.

Its leaders have also devalued its currency, the Sri Lankan rupee, as they try to secure a bailout from the International Monetary Fund. But that just made inflation worse at home. In January, it reached 14%, almost double the rate of price increases in the United States.

Meanwhile, Pakistan's Khan faces a vote of no confidence on Saturday in the country's parliament. While his political problems date back years, he's now battling claims of economic mismanagement as the cost of food and fuel leaps and the government depletes its foreign exchange reserves.

"The extent of economic chaos has united opposition to Imran Khan," Kinnear of Verisk Maplecroft said.

Middle East and Africa: Experts are also watching for signs of political distress in other countries in the Middle East that are heavily dependent on food imports from the Black Sea region, and often provide generous subsidies to the public.

In Lebanon, where nearly three-quarters of the population was living in poverty last year as the result of a political and economic collapse, between 70% and 80% of imported wheat comes from Russia and Ukraine. Key grain silos were also destroyed during the 2020 explosion at the Beirut port.

And Egypt, the world's largest buyer of wheat, is already seeing enormous pressure on its huge subsidy program for bread. The country recently set a fixed price for unsubsidized bread after prices spiked, and is trying to secure wheat imports from countries like India and Argentina instead.

With an estimated 70% of the world's poor living in Africa, the continent will also be "very exposed" to rising food and energy prices, Arezki said.

Droughts and conflict in countries like Ethiopia, Somalia, South Sudan and Burkina Faso have created a food security crisis for more than a quarter of the continent's population, the International Committee of the Red Cross said this week. The situation risks getting worse in the coming months, it continued.

Political instability has already been building in parts of the continent. A series of coups have taken place in West and Central Africa since the start of 2021.

Europe: Even countries with more developed economies, which have greater buffers to shield citizens from painful price increases, won't have the tools to fully cushion the blow.

Thousands of protesters gathered in cities across Greece this week to demand higher wages to counter inflation, while France's presidential election is narrowing as far-right candidate Marine Le Pen plays up her plans to reduce the cost of living. President Emmanuel Macron's government said last month it was considering issuing food vouchers so that middle and low-income families could afford to eat.
— Jessie Yeung, Rhea Mogul and Sophia Saifi contributed reporting.

[zoom rader]

https://edition.cnn.com/2022/04/09/business/food-fuel-prices-political-instability/index.html

From Pakistan to Peru, soaring food and fuel prices are tipping countries over the edge
Julia Horowitz byline
By Julia Horowitz, CNN Business

Updated 0858 GMT (1658 HKT) April 9, 2022

London (CNN Business)When people took to the streets in Egypt in 2011, protesters chanted about freedom and social justice — but also bread. The cost of pantry staples had jumped because of the skyrocketing price of goods like wheat, stoking fury with President Hosni Mubarak.

Now, more than a decade after the Arab Spring, global food prices are soaring again. They had already reached their highest level on record earlier this year as the pandemic, poor weather and the climate crisis upended agriculture and threatened food security for millions of people.

Then came Russia's war in Ukraine, making the situation much worse — while also triggering a spike in the cost of the other daily essential, fuel.

The combination could generate a wave of political instability, as people who were already frustrated with government leaders are pushed over the edge by rising costs.


"It is extremely worrisome," said Rabah Arezki, a senior fellow at Harvard's Kennedy School of Government and former chief economist at the African Development Bank.

Unrest in Sri Lanka, Pakistan and Peru over the past week highlights the risks.

In Sri Lanka, protests have erupted over shortages of gas and other basic goods. Double-digit inflation in Pakistan has eroded support for Prime Minister Imran Khan, who is clinging to power.

At least six people have died in recent anti-government protests in Peru sparked by rising fuel prices. But political conflict isn't expected to be limited to these countries.

"I don't think people have felt the full impact of rising prices just yet," said Hamish Kinnear, a Middle East and North Africa analyst at Verisk Maplecroft, a global risk consultancy.

Lessons from the Arab Spring
In the run-up to the anti-government protests that became known as the Arab Spring — which began in Tunisia in late 2010 and spread through the Middle East and North Africa in 2011 — food prices were climbing sharply. The Food Price Index from the United Nations' Food and Agriculture Organization reached 106.7 in 2010 and jumped to 131.9 in 2011, then a record.

"Mohamed Bouazizi didn't set himself on fire because he couldn't blog or vote," an Emirati commentator wrote in January 2011, referring to the street vendor whose protest act helped launch the revolution in Tunisia and, ultimately, the Arab world.

"People set themselves on fire because they can't stand seeing their family wither away slowly, not of sorrow, but of cold stark hunger."

Circumstances in individual countries differed, but the bigger picture was clear. Surging wheat prices were a major part of the problem.

The situation now is even worse than it was then. Global food prices have just hit a new record high.

The FAO Food Price Index published Friday hit 159.3 in March, up almost 13% from February. The war in Ukraine, a major exporter of wheat, corn and vegetable oils, as well as harsh sanctions on Russia — a key producer of wheat and fertilizer — is expected to spur further price increases in the coming months.

"Forty percent of wheat and corn exports from Ukraine go to the Middle East and Africa, which are already grappling with hunger issues, and where further food shortages or price increases could stoke social unrest," Gilbert Houngbo, head of the International Fund for Agricultural Development, said last month.

Adding to the pain is the surge in energy prices. Global oil prices are almost 60% higher than they were a year ago. The cost of coal and natural gas has spiked, too.

Many governments are struggling to protect their citizens, but fragile economies that borrowed heavily to make it through the 2008 financial crisis and the pandemic are most vulnerable. As growth slows, hurting their currencies and making it harder to keep up with debt payments, maintaining subsidies for food and fuel will be difficult, especially if prices keep climbing.

"We are now in a situation where countries are indebted," Arezki said. "As a result, they have no buffers to try to contain the tensions that will emerge from such high prices."

According to the World Bank, close to 60% of the poorest countries were "already in debt distress or at high risk of it" on the eve of the invasion of Ukraine.

Where tensions are simmering

Asia: In Sri Lanka, an island nation of 22 million, an economic and political crisis is already boiling over, with protesters taking to the streets in defiance of curfews and government ministers stepping down en masse.

Grappling with high debt levels and a weak economy reliant on tourism, Sri Lanka was forced to run down its reserves of foreign currency. That prevented the government from making payments for key imports such as energy, creating devastating shortages and forcing people to spend hours lining up for fuel.

Its leaders have also devalued its currency, the Sri Lankan rupee, as they try to secure a bailout from the International Monetary Fund. But that just made inflation worse at home. In January, it reached 14%, almost double the rate of price increases in the United States.

Meanwhile, Pakistan's Khan faces a vote of no confidence on Saturday in the country's parliament. While his political problems date back years, he's now battling claims of economic mismanagement as the cost of food and fuel leaps and the government depletes its foreign exchange reserves.

"The extent of economic chaos has united opposition to Imran Khan," Kinnear of Verisk Maplecroft said.

Middle East and Africa: Experts are also watching for signs of political distress in other countries in the Middle East that are heavily dependent on food imports from the Black Sea region, and often provide generous subsidies to the public.

In Lebanon, where nearly three-quarters of the population was living in poverty last year as the result of a political and economic collapse, between 70% and 80% of imported wheat comes from Russia and Ukraine. Key grain silos were also destroyed during the 2020 explosion at the Beirut port.

And Egypt, the world's largest buyer of wheat, is already seeing enormous pressure on its huge subsidy program for bread. The country recently set a fixed price for unsubsidized bread after prices spiked, and is trying to secure wheat imports from countries like India and Argentina instead.

With an estimated 70% of the world's poor living in Africa, the continent will also be "very exposed" to rising food and energy prices, Arezki said.

Droughts and conflict in countries like Ethiopia, Somalia, South Sudan and Burkina Faso have created a food security crisis for more than a quarter of the continent's population, the International Committee of the Red Cross said this week. The situation risks getting worse in the coming months, it continued.

Political instability has already been building in parts of the continent. A series of coups have taken place in West and Central Africa since the start of 2021.

Europe: Even countries with more developed economies, which have greater buffers to shield citizens from painful price increases, won't have the tools to fully cushion the blow.

Thousands of protesters gathered in cities across Greece this week to demand higher wages to counter inflation, while France's presidential election is narrowing as far-right candidate Marine Le Pen plays up her plans to reduce the cost of living. President Emmanuel Macron's government said last month it was considering issuing food vouchers so that middle and low-income families could afford to eat.
— Jessie Yeung, Rhea Mogul and Sophia Saifi contributed reporting.

The USA plans is working once again.

Banana Republic like Trinidad failed to prepare and took the bait to kill its oil industries.

Trinidad is a stupid country filled with idiots

[FuadAdnan]

What all this have to do with the topic at hand ....probably kfc should have announced the gas price increase, it hasn't sunk in yet for most

The plastics that contains the ketchup is made from oil.

They want you to believe in renewables but the hardware is all made from oils

They are saying that within ten years, the world demand for crude oil will decline.

They project that many of the uses for refined crude oil will not disappear but the half that is used for automobile fuels will continue to decline as automobiles move from ICE to PE.

They project that reliance on all fossil fuels will diminish in the coming years as other energy generation and storage technologies further mature bringing with them reduced costs that will continue to erode fossil fuel demand.

They are the fossil fuel companies that are rapidly diversifying away from fossil fuels and into energy.

The points you stubbornly continue to espouse may be valid. But the very companies that do the actual drilling say that you're wrong.

Glide path for oil and gas production.

So, as a rough estimate, the numbers suggest a 32% drop in natural gas by 2035 and a 24% drop in crude oil production by 2040. The natural gas drop is based on a federal government goal, which will likely require a carbon-pricing mechanism to succeed. The oil drop in crude oil is based on a comprehensive modeling study of the uptake of electric vehicles by 2040.

A glide path is a picturesque way of describing a gradual transition to lower oil and gas production. The most common landing strip is the date of 2050, which has generally been adopted as the goal for net-zero emissions of GHG.

But in this article the glide path has an altitude drop of 32% by 2035 for natural gas, and an altitude drop of 24% by 2040 for crude oil.

These percentages are likely to be lower limits. So when oil and gas companies talk about their recovery from the pandemic and associated oil price plunges, and wells that were shut-in in 2020, their reasoning is to keep profits and job numbers stable.

Such reasoning is in conflict with the simple supply and demand picture presented above. In the US, if demand falls in electrical and transport sectors, then supply is likely to follow in the form of cuts to oil and gas production.

This picture finds support when the federal government raises climate change to a “crisis” stature and a new groundswell for climate action appears amongst the US population. It might be wise for oil and gas companies to adopt a proactive stance and see what changes could be made in their business, as uncomfortable as that might be.

The simplest way forward might be for oil and gas companies to diversify into renewable energies.

https://www.forbes.com/sites/ianpalmer/ ... 6fbc76170e

USA and China thinks different from the rest of the world. You never hear them subscribe away from fossil fuels.

Europe is pushing this change as they have with Slavery with colonisation. They sold that dream and now they selling the renewable dream.

Contine

You read all that in 2 mins or you talking to yourself as usual

[hover11]

https://edition.cnn.com/2022/04/09/business/food-fuel-prices-political-instability/index.html

From Pakistan to Peru, soaring food and fuel prices are tipping countries over the edge
Julia Horowitz byline
By Julia Horowitz, CNN Business

Updated 0858 GMT (1658 HKT) April 9, 2022

London (CNN Business)When people took to the streets in Egypt in 2011, protesters chanted about freedom and social justice — but also bread. The cost of pantry staples had jumped because of the skyrocketing price of goods like wheat, stoking fury with President Hosni Mubarak.

Now, more than a decade after the Arab Spring, global food prices are soaring again. They had already reached their highest level on record earlier this year as the pandemic, poor weather and the climate crisis upended agriculture and threatened food security for millions of people.

Then came Russia's war in Ukraine, making the situation much worse — while also triggering a spike in the cost of the other daily essential, fuel.

The combination could generate a wave of political instability, as people who were already frustrated with government leaders are pushed over the edge by rising costs.


"It is extremely worrisome," said Rabah Arezki, a senior fellow at Harvard's Kennedy School of Government and former chief economist at the African Development Bank.

Unrest in Sri Lanka, Pakistan and Peru over the past week highlights the risks.

In Sri Lanka, protests have erupted over shortages of gas and other basic goods. Double-digit inflation in Pakistan has eroded support for Prime Minister Imran Khan, who is clinging to power.

At least six people have died in recent anti-government protests in Peru sparked by rising fuel prices. But political conflict isn't expected to be limited to these countries.

"I don't think people have felt the full impact of rising prices just yet," said Hamish Kinnear, a Middle East and North Africa analyst at Verisk Maplecroft, a global risk consultancy.

Lessons from the Arab Spring
In the run-up to the anti-government protests that became known as the Arab Spring — which began in Tunisia in late 2010 and spread through the Middle East and North Africa in 2011 — food prices were climbing sharply. The Food Price Index from the United Nations' Food and Agriculture Organization reached 106.7 in 2010 and jumped to 131.9 in 2011, then a record.

"Mohamed Bouazizi didn't set himself on fire because he couldn't blog or vote," an Emirati commentator wrote in January 2011, referring to the street vendor whose protest act helped launch the revolution in Tunisia and, ultimately, the Arab world.

"People set themselves on fire because they can't stand seeing their family wither away slowly, not of sorrow, but of cold stark hunger."

Circumstances in individual countries differed, but the bigger picture was clear. Surging wheat prices were a major part of the problem.

The situation now is even worse than it was then. Global food prices have just hit a new record high.

The FAO Food Price Index published Friday hit 159.3 in March, up almost 13% from February. The war in Ukraine, a major exporter of wheat, corn and vegetable oils, as well as harsh sanctions on Russia — a key producer of wheat and fertilizer — is expected to spur further price increases in the coming months.

"Forty percent of wheat and corn exports from Ukraine go to the Middle East and Africa, which are already grappling with hunger issues, and where further food shortages or price increases could stoke social unrest," Gilbert Houngbo, head of the International Fund for Agricultural Development, said last month.

Adding to the pain is the surge in energy prices. Global oil prices are almost 60% higher than they were a year ago. The cost of coal and natural gas has spiked, too.

Many governments are struggling to protect their citizens, but fragile economies that borrowed heavily to make it through the 2008 financial crisis and the pandemic are most vulnerable. As growth slows, hurting their currencies and making it harder to keep up with debt payments, maintaining subsidies for food and fuel will be difficult, especially if prices keep climbing.

"We are now in a situation where countries are indebted," Arezki said. "As a result, they have no buffers to try to contain the tensions that will emerge from such high prices."

According to the World Bank, close to 60% of the poorest countries were "already in debt distress or at high risk of it" on the eve of the invasion of Ukraine.

Where tensions are simmering

Asia: In Sri Lanka, an island nation of 22 million, an economic and political crisis is already boiling over, with protesters taking to the streets in defiance of curfews and government ministers stepping down en masse.

Grappling with high debt levels and a weak economy reliant on tourism, Sri Lanka was forced to run down its reserves of foreign currency. That prevented the government from making payments for key imports such as energy, creating devastating shortages and forcing people to spend hours lining up for fuel.

Its leaders have also devalued its currency, the Sri Lankan rupee, as they try to secure a bailout from the International Monetary Fund. But that just made inflation worse at home. In January, it reached 14%, almost double the rate of price increases in the United States.

Meanwhile, Pakistan's Khan faces a vote of no confidence on Saturday in the country's parliament. While his political problems date back years, he's now battling claims of economic mismanagement as the cost of food and fuel leaps and the government depletes its foreign exchange reserves.

"The extent of economic chaos has united opposition to Imran Khan," Kinnear of Verisk Maplecroft said.

Middle East and Africa: Experts are also watching for signs of political distress in other countries in the Middle East that are heavily dependent on food imports from the Black Sea region, and often provide generous subsidies to the public.

In Lebanon, where nearly three-quarters of the population was living in poverty last year as the result of a political and economic collapse, between 70% and 80% of imported wheat comes from Russia and Ukraine. Key grain silos were also destroyed during the 2020 explosion at the Beirut port.

And Egypt, the world's largest buyer of wheat, is already seeing enormous pressure on its huge subsidy program for bread. The country recently set a fixed price for unsubsidized bread after prices spiked, and is trying to secure wheat imports from countries like India and Argentina instead.

With an estimated 70% of the world's poor living in Africa, the continent will also be "very exposed" to rising food and energy prices, Arezki said.

Droughts and conflict in countries like Ethiopia, Somalia, South Sudan and Burkina Faso have created a food security crisis for more than a quarter of the continent's population, the International Committee of the Red Cross said this week. The situation risks getting worse in the coming months, it continued.

Political instability has already been building in parts of the continent. A series of coups have taken place in West and Central Africa since the start of 2021.

Europe: Even countries with more developed economies, which have greater buffers to shield citizens from painful price increases, won't have the tools to fully cushion the blow.

Thousands of protesters gathered in cities across Greece this week to demand higher wages to counter inflation, while France's presidential election is narrowing as far-right candidate Marine Le Pen plays up her plans to reduce the cost of living. President Emmanuel Macron's government said last month it was considering issuing food vouchers so that middle and low-income families could afford to eat.
— Jessie Yeung, Rhea Mogul and Sophia Saifi contributed reporting.

The USA plans is working once again

The US gonna intervene like a knight in shining armor after causing the problem to begin with. You notice right after they cut off Russia they were in talks with Venezuelan, same Venezuela that they treated with disdain, the US doesn't do anything unless it benefits them.

[adnj]

https://edition.cnn.com/2022/04/09/business/food-fuel-prices-political-instability/index.html

From Pakistan to Peru, soaring food and fuel prices are tipping countries over the edge
Julia Horowitz byline
By Julia Horowitz, CNN Business

Updated 0858 GMT (1658 HKT) April 9, 2022

London (CNN Business)When people took to the streets in Egypt in 2011, protesters chanted about freedom and social justice — but also bread. The cost of pantry staples had jumped because of the skyrocketing price of goods like wheat, stoking fury with President Hosni Mubarak.

Now, more than a decade after the Arab Spring, global food prices are soaring again. They had already reached their highest level on record earlier this year as the pandemic, poor weather and the climate crisis upended agriculture and threatened food security for millions of people.

Then came Russia's war in Ukraine, making the situation much worse — while also triggering a spike in the cost of the other daily essential, fuel.

The combination could generate a wave of political instability, as people who were already frustrated with government leaders are pushed over the edge by rising costs.


"It is extremely worrisome," said Rabah Arezki, a senior fellow at Harvard's Kennedy School of Government and former chief economist at the African Development Bank.

Unrest in Sri Lanka, Pakistan and Peru over the past week highlights the risks.

In Sri Lanka, protests have erupted over shortages of gas and other basic goods. Double-digit inflation in Pakistan has eroded support for Prime Minister Imran Khan, who is clinging to power.

At least six people have died in recent anti-government protests in Peru sparked by rising fuel prices. But political conflict isn't expected to be limited to these countries.

"I don't think people have felt the full impact of rising prices just yet," said Hamish Kinnear, a Middle East and North Africa analyst at Verisk Maplecroft, a global risk consultancy.

Lessons from the Arab Spring
In the run-up to the anti-government protests that became known as the Arab Spring — which began in Tunisia in late 2010 and spread through the Middle East and North Africa in 2011 — food prices were climbing sharply. The Food Price Index from the United Nations' Food and Agriculture Organization reached 106.7 in 2010 and jumped to 131.9 in 2011, then a record.

"Mohamed Bouazizi didn't set himself on fire because he couldn't blog or vote," an Emirati commentator wrote in January 2011, referring to the street vendor whose protest act helped launch the revolution in Tunisia and, ultimately, the Arab world.

"People set themselves on fire because they can't stand seeing their family wither away slowly, not of sorrow, but of cold stark hunger."

Circumstances in individual countries differed, but the bigger picture was clear. Surging wheat prices were a major part of the problem.

The situation now is even worse than it was then. Global food prices have just hit a new record high.

The FAO Food Price Index published Friday hit 159.3 in March, up almost 13% from February. The war in Ukraine, a major exporter of wheat, corn and vegetable oils, as well as harsh sanctions on Russia — a key producer of wheat and fertilizer — is expected to spur further price increases in the coming months.

"Forty percent of wheat and corn exports from Ukraine go to the Middle East and Africa, which are already grappling with hunger issues, and where further food shortages or price increases could stoke social unrest," Gilbert Houngbo, head of the International Fund for Agricultural Development, said last month.

Adding to the pain is the surge in energy prices. Global oil prices are almost 60% higher than they were a year ago. The cost of coal and natural gas has spiked, too.

Many governments are struggling to protect their citizens, but fragile economies that borrowed heavily to make it through the 2008 financial crisis and the pandemic are most vulnerable. As growth slows, hurting their currencies and making it harder to keep up with debt payments, maintaining subsidies for food and fuel will be difficult, especially if prices keep climbing.

"We are now in a situation where countries are indebted," Arezki said. "As a result, they have no buffers to try to contain the tensions that will emerge from such high prices."

According to the World Bank, close to 60% of the poorest countries were "already in debt distress or at high risk of it" on the eve of the invasion of Ukraine.

Where tensions are simmering

Asia: In Sri Lanka, an island nation of 22 million, an economic and political crisis is already boiling over, with protesters taking to the streets in defiance of curfews and government ministers stepping down en masse.

Grappling with high debt levels and a weak economy reliant on tourism, Sri Lanka was forced to run down its reserves of foreign currency. That prevented the government from making payments for key imports such as energy, creating devastating shortages and forcing people to spend hours lining up for fuel.

Its leaders have also devalued its currency, the Sri Lankan rupee, as they try to secure a bailout from the International Monetary Fund. But that just made inflation worse at home. In January, it reached 14%, almost double the rate of price increases in the United States.

Meanwhile, Pakistan's Khan faces a vote of no confidence on Saturday in the country's parliament. While his political problems date back years, he's now battling claims of economic mismanagement as the cost of food and fuel leaps and the government depletes its foreign exchange reserves.

"The extent of economic chaos has united opposition to Imran Khan," Kinnear of Verisk Maplecroft said.

Middle East and Africa: Experts are also watching for signs of political distress in other countries in the Middle East that are heavily dependent on food imports from the Black Sea region, and often provide generous subsidies to the public.

In Lebanon, where nearly three-quarters of the population was living in poverty last year as the result of a political and economic collapse, between 70% and 80% of imported wheat comes from Russia and Ukraine. Key grain silos were also destroyed during the 2020 explosion at the Beirut port.

And Egypt, the world's largest buyer of wheat, is already seeing enormous pressure on its huge subsidy program for bread. The country recently set a fixed price for unsubsidized bread after prices spiked, and is trying to secure wheat imports from countries like India and Argentina instead.

With an estimated 70% of the world's poor living in Africa, the continent will also be "very exposed" to rising food and energy prices, Arezki said.

Droughts and conflict in countries like Ethiopia, Somalia, South Sudan and Burkina Faso have created a food security crisis for more than a quarter of the continent's population, the International Committee of the Red Cross said this week. The situation risks getting worse in the coming months, it continued.

Political instability has already been building in parts of the continent. A series of coups have taken place in West and Central Africa since the start of 2021.

Europe: Even countries with more developed economies, which have greater buffers to shield citizens from painful price increases, won't have the tools to fully cushion the blow.

Thousands of protesters gathered in cities across Greece this week to demand higher wages to counter inflation, while France's presidential election is narrowing as far-right candidate Marine Le Pen plays up her plans to reduce the cost of living. President Emmanuel Macron's government said last month it was considering issuing food vouchers so that middle and low-income families could afford to eat.
— Jessie Yeung, Rhea Mogul and Sophia Saifi contributed reporting.

The USA plans is working once again

The US gonna intervene like a knight in shining armor after causing the problem to begin with. You notice right after they cut off Russia they were in talks with Venezuelan, same Venezuela that they treated with disdain, the US doesn't do anything unless it benefits them.

Yep. And that's why Hoover can't get a US visa - no benefit.

[hover11]

https://edition.cnn.com/2022/04/09/business/food-fuel-prices-political-instability/index.html

From Pakistan to Peru, soaring food and fuel prices are tipping countries over the edge
Julia Horowitz byline
By Julia Horowitz, CNN Business

Updated 0858 GMT (1658 HKT) April 9, 2022

London (CNN Business)When people took to the streets in Egypt in 2011, protesters chanted about freedom and social justice — but also bread. The cost of pantry staples had jumped because of the skyrocketing price of goods like wheat, stoking fury with President Hosni Mubarak.

Now, more than a decade after the Arab Spring, global food prices are soaring again. They had already reached their highest level on record earlier this year as the pandemic, poor weather and the climate crisis upended agriculture and threatened food security for millions of people.

Then came Russia's war in Ukraine, making the situation much worse — while also triggering a spike in the cost of the other daily essential, fuel.

The combination could generate a wave of political instability, as people who were already frustrated with government leaders are pushed over the edge by rising costs.


"It is extremely worrisome," said Rabah Arezki, a senior fellow at Harvard's Kennedy School of Government and former chief economist at the African Development Bank.

Unrest in Sri Lanka, Pakistan and Peru over the past week highlights the risks.

In Sri Lanka, protests have erupted over shortages of gas and other basic goods. Double-digit inflation in Pakistan has eroded support for Prime Minister Imran Khan, who is clinging to power.

At least six people have died in recent anti-government protests in Peru sparked by rising fuel prices. But political conflict isn't expected to be limited to these countries.

"I don't think people have felt the full impact of rising prices just yet," said Hamish Kinnear, a Middle East and North Africa analyst at Verisk Maplecroft, a global risk consultancy.

Lessons from the Arab Spring
In the run-up to the anti-government protests that became known as the Arab Spring — which began in Tunisia in late 2010 and spread through the Middle East and North Africa in 2011 — food prices were climbing sharply. The Food Price Index from the United Nations' Food and Agriculture Organization reached 106.7 in 2010 and jumped to 131.9 in 2011, then a record.

"Mohamed Bouazizi didn't set himself on fire because he couldn't blog or vote," an Emirati commentator wrote in January 2011, referring to the street vendor whose protest act helped launch the revolution in Tunisia and, ultimately, the Arab world.

"People set themselves on fire because they can't stand seeing their family wither away slowly, not of sorrow, but of cold stark hunger."

Circumstances in individual countries differed, but the bigger picture was clear. Surging wheat prices were a major part of the problem.

The situation now is even worse than it was then. Global food prices have just hit a new record high.

The FAO Food Price Index published Friday hit 159.3 in March, up almost 13% from February. The war in Ukraine, a major exporter of wheat, corn and vegetable oils, as well as harsh sanctions on Russia — a key producer of wheat and fertilizer — is expected to spur further price increases in the coming months.

"Forty percent of wheat and corn exports from Ukraine go to the Middle East and Africa, which are already grappling with hunger issues, and where further food shortages or price increases could stoke social unrest," Gilbert Houngbo, head of the International Fund for Agricultural Development, said last month.

Adding to the pain is the surge in energy prices. Global oil prices are almost 60% higher than they were a year ago. The cost of coal and natural gas has spiked, too.

Many governments are struggling to protect their citizens, but fragile economies that borrowed heavily to make it through the 2008 financial crisis and the pandemic are most vulnerable. As growth slows, hurting their currencies and making it harder to keep up with debt payments, maintaining subsidies for food and fuel will be difficult, especially if prices keep climbing.

"We are now in a situation where countries are indebted," Arezki said. "As a result, they have no buffers to try to contain the tensions that will emerge from such high prices."

According to the World Bank, close to 60% of the poorest countries were "already in debt distress or at high risk of it" on the eve of the invasion of Ukraine.

Where tensions are simmering

Asia: In Sri Lanka, an island nation of 22 million, an economic and political crisis is already boiling over, with protesters taking to the streets in defiance of curfews and government ministers stepping down en masse.

Grappling with high debt levels and a weak economy reliant on tourism, Sri Lanka was forced to run down its reserves of foreign currency. That prevented the government from making payments for key imports such as energy, creating devastating shortages and forcing people to spend hours lining up for fuel.

Its leaders have also devalued its currency, the Sri Lankan rupee, as they try to secure a bailout from the International Monetary Fund. But that just made inflation worse at home. In January, it reached 14%, almost double the rate of price increases in the United States.

Meanwhile, Pakistan's Khan faces a vote of no confidence on Saturday in the country's parliament. While his political problems date back years, he's now battling claims of economic mismanagement as the cost of food and fuel leaps and the government depletes its foreign exchange reserves.

"The extent of economic chaos has united opposition to Imran Khan," Kinnear of Verisk Maplecroft said.

Middle East and Africa: Experts are also watching for signs of political distress in other countries in the Middle East that are heavily dependent on food imports from the Black Sea region, and often provide generous subsidies to the public.

In Lebanon, where nearly three-quarters of the population was living in poverty last year as the result of a political and economic collapse, between 70% and 80% of imported wheat comes from Russia and Ukraine. Key grain silos were also destroyed during the 2020 explosion at the Beirut port.

And Egypt, the world's largest buyer of wheat, is already seeing enormous pressure on its huge subsidy program for bread. The country recently set a fixed price for unsubsidized bread after prices spiked, and is trying to secure wheat imports from countries like India and Argentina instead.

With an estimated 70% of the world's poor living in Africa, the continent will also be "very exposed" to rising food and energy prices, Arezki said.

Droughts and conflict in countries like Ethiopia, Somalia, South Sudan and Burkina Faso have created a food security crisis for more than a quarter of the continent's population, the International Committee of the Red Cross said this week. The situation risks getting worse in the coming months, it continued.

Political instability has already been building in parts of the continent. A series of coups have taken place in West and Central Africa since the start of 2021.

Europe: Even countries with more developed economies, which have greater buffers to shield citizens from painful price increases, won't have the tools to fully cushion the blow.

Thousands of protesters gathered in cities across Greece this week to demand higher wages to counter inflation, while France's presidential election is narrowing as far-right candidate Marine Le Pen plays up her plans to reduce the cost of living. President Emmanuel Macron's government said last month it was considering issuing food vouchers so that middle and low-income families could afford to eat.
— Jessie Yeung, Rhea Mogul and Sophia Saifi contributed reporting.

The USA plans is working once again

The US gonna intervene like a knight in shining armor after causing the problem to begin with. You notice right after they cut off Russia they were in talks with Venezuelan, same Venezuela that they treated with disdain, the US doesn't do anything unless it benefits them.

Yep. And that's why Hoover can't get a US visa - no benefit.

Owner of a ten year visa sir ....try again

[bluefete]

The USA plans is working once again. The US gonna intervene like a knight in shining armor after causing the problem to begin with. You notice right after they cut off Russia they were in talks with Venezuelan, same Venezuela that they treated with disdain, the US doesn't do anything unless it benefits them.

DAMN RIGHT!

But I feel they giving Maduro serious basket, eh.