I opened the news this morning and I was like is this real life man? A fuel shortage in the UK just like the 70s?
I wonder how much of this is human psychology creating a shortage, as opposed to “there’s truly a shortage and consumers need to hurry out and get stuff before it’s all gone.” Sounds like it may be a lot of the former.
The Costco by me reinstated their limits on toilet paper again.
We have a problem with not having enough HGV drivers to deliver fuel (and pretty much everything else) - both covid and Brexit caused. Add to that the Transport Secretary saying that there was no need to panic buy. Coming from a party of liars, no one believed him and so panic buying has made the situation worse.
Might as well have named the thread Joe Carter too. Gas prices are awfully high these days…
I can see demand driving up prices, but I’ve got a friend who, of course, blames it all on Biden and his canceling of leases and the pipeline. Which I could definitely see raising prices longer term, but why the immediate rise? He says, well futures … And, OK, futures prices are way up. But why would leases that wouldn’t produce oil for the next 5 to 10 years anyway and a pipeline that isn’t even built yet cause a huge spike in the 1mo futures price?
Your friend (and really, choose more wisely) is wrong.
The real conspiracy is that when the Dems have the presidency, the GOP cabal calls their Arab overlords and have them restrict production and raise oil prices, so that they can blame the Dem Prez on increased prices, and prices will go back down when you put us back in power.
That seems far more likely.
Also, crude oil supply is pretty effing low, and demand, as people get back to working away from home and/or go traveling, is pretty effing high.
Fox news is all smiles tonight talking about inflation.