Oil Prices Surge Above $100 a Barrel for the First Time in Almost Four Years

[Anonymous]

Anonymous wrote:

Anonymous wrote:Sounds like prices aren't coming down any time soon.

https://www.nytimes.com/2026/03/08/business/energy-environment/oil-prices-iran-100-dollars-barrel.html
Oil Prices Surge Above $100 a Barrel for the First Time in Almost Four Years
The jump was a sign of growing concern that the war in the Middle East will take a toll on energy supplies.

Thanks Biden?

Yes, clearly this is Biden's fault, and Obama's. Trump is not to blame in the least, how dare anyone suggest it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I am more concerned about the long term disruptions. I am surprised people don't see what's happening here. Who were the top 2 suppliers of oil to China? Venezuela is an OPEC member. And the US now essentially controls Venezuela's oil market and de facto decides how Venezuela will act at OPEC meetings.

The oil market will never be the same again. It remains to be seen how OPEC members will at with the US now at the table.

China has been smartly pushing its car supply into EVs. Being less dependent on oil isn't just an environmental thing, it protects your economy from supply chain disruptions on a commodity that's been disrupted repeatedly.

And where do they get the electricity to charge the EVs - coal. They don’t care about the environment.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am more concerned about the long term disruptions. I am surprised people don't see what's happening here. Who were the top 2 suppliers of oil to China? Venezuela is an OPEC member. And the US now essentially controls Venezuela's oil market and de facto decides how Venezuela will act at OPEC meetings.

The oil market will never be the same again. It remains to be seen how OPEC members will at with the US now at the table.

China has been smartly pushing its car supply into EVs. Being less dependent on oil isn't just an environmental thing, it protects your economy from supply chain disruptions on a commodity that's been disrupted repeatedly.

And where do they get the electricity to charge the EVs - coal. They don’t care about the environment.

China is going heavily into solar. Last year China installed twice as much solar as the rest of the world combined.