European markets down 7% this week. Dow down for the fourth straight week.
This morning on CNBC they were talking about gas prices for parts of Europe that would cripple many consumers and business's. Prices that if converted into the price of petrol, (which is something we can more easily understand), are the same as US $30 a gallon. That's $US 8 a liter = $N.Z 11.76 a liter. By the time the Govt added GST and all the other taxes on here imagine paying $15 a liter for petrol !
Russian stops exporting fertilizer? Well, to be fair - the Russian dictator tries to compensate ... so much manure coming out of his mouth.
Could be serious for Europe as it will cause a real shortage, And there is no replacement, When Russia cuts off oil and gas i wonder if we are going to see a real scramble to re connect with them?
Could be serious for Europe as it will cause a real shortage, And there is no replacement, When Russia cuts off oil and gas i wonder if we are going to see a real scramble to re connect with them?
Hardly. Plenty of places around the world which have plenty of oil. Look at how the US managed to get independent from foreign oil.
As well - maybe this is the chance the planet needed to remind everybody that conserving energy could be a virtue? Just look at these idiots (not just in NZ) who bought plenty of gas guzzling SUV's they only use to drive to the office and to the supermarket just because petrol was cheap and they needed to show their neighbour that theirs is bigger than his.
Maybe some people here and in Europe will now reconsider.
Maybe some less gas guzzlers on the road. Big deal.
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"Prediction is very difficult, especially about the future" (Niels Bohr)
I'm starting to worry about how balanced you are. $15 a liter for petrol would cripple the transport system, would lead to hyper inflation for food and a whole host of other issues. Imagine paying $750 to fill up the family car...
The reason for my post was to illustrate that many consumers in Europe with gas prices are being forced to choose between heating their homes and food. Just as well summer is coming for them.
I can foresee the possibility of $4 a liter for fuel here as quite conceivable if we get to $200 a barrel for oil. Fuel is already really hurting consumers and acts like a tax and handbrake on the economy.
Last edited by Beagle; 05-03-2022 at 11:25 AM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Originally Posted by Beagle
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