One crazy fucker calling another crazy fucker ‘fucking crazy’ 
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It just shows how stupid Trump and his cronies are and how calculated and callous that fucker in Israel is.
This could really hurt Israel though. As Trump points out everyone hates them now, including Trump himself. We are far from them laughing at Gaza and how they would transform it into an america holiday destination.
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It’s just a shame that the one US President who has the balls to use all the leverage it has to coerce Israel is basically in lock step with them. Now imagine if Biden had exerted that type of pressure when they began razing Gaza , then this repeat horror show in Lebanon wouldn’t be happening now , and neither would this stupid war. If one good thing does eventually come from this it might be that Israel will no longer have the ear of the US President and they might be a little bit more circumspect before they go on another rampage.
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Netanyahou is batshit crazy, but not stupid. He knows that Trump’s words are never followed by actual effects, and that he’ll eventually chicken out. TACO.
He’ll just shrug his shoulders and move on with his multiple wars and genocides.
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https://x.com/Joyce_Karam/status/2062108850702946734
https://x.com/Joyce_Karam/status/2062109831104737690
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Oil price reactions aren’t making a great deal of sense to me right now - Brent and WTI are up, but still far below their earlier peaks. Yet we are edging closer and closer to the “supply valley” where there are no incoming tankers and reserves in the system are simply being drained down at the rate of consumption.
The frightening possibility is that the market is reflecting an accurate balance of supply and demand despite (or because of) speculative effects - which means demand destruction is balancing off the lack of supply to keep the price from skyrocketing. In simple terms, people cannot afford fuel so the price isn’t going up any more. If that is truly what is happening, the knock-on effects in the global economy must be enormous.
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[quote=“Arminius, post:2120, topic:5667”] In
simple terms, people cannot afford fuel so the price isn’t going up any more.
[/quote]
How would the effect of poor nations not even importing anywhere near enough affect this?
We tend to look at world situations in terms of our own ‘privileged’ view however I have little to no information on what’s happening around the world. Many of these poor nations don’t have strategic reserves so it must be already hitting hard. They must be desperate to get pétrole but can 'ot afford it, no?
Some of the demand destruction must be occurring at close to the national level of developing countries, but even in the Western economies the various demonstrations over fuel prices suggest that people are having to cut back fuel consumption significantly. In the US, land freight ‘inventory’, essentially trucking capacity available, has collapsed to lower levels than during covid - many of the marginal trucking operators are taking themselves out of the market because the spot rate ton/mile is too low to cover fuel and other operating costs.
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Weather maybe? What percentage of Europe has switched the heating off in the last 2 weeks?
I’m guessing but aren’t we now coming into what the US calls Driving Season?
Yes trucking is taking a hit here in France, it’s starting to get reported.
I wonder what’s going to happen to deliveries of stuff ordered over internet?
Our government has just announced a 15-20% increase in fuel, and electricity prices. That’s how the balance is kept, coerce the demand/usage to match the supply.
Mind you, the summer months are in full swing.
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Fuel prices in Bangladesh are below global market average, but a large percentage of fuel demand is met with imported refined products. Essentially the government’s set price acts as a subsidy, and with the global price where it is, not one that Bangladesh can afford.
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Yes, you can say that the government is cutting the subsidy and not increasing the price. But the impact is the same. Also, even without the subsidy the prices would have increased like it has globally.
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But the basic problem is that the price people are paying in Bangladesh is not high enough. It has to go higher in order to cover the cost of crude plus refining, or the government has to assign revenue from somewhere else to cover it - which will only get worse if crude prices continue to rise.
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who would have thought that a man so opposed to electric cars,
might turn out to be the best thing that ever happened to electric car sales…
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Despite US Speaker Mike Johnson trying to delay the vote, the US house just passed the War Powers Resolution Act 215-208 which essentially strips Trump of the ability to continue the war in Iran with 4 GOP voting with the Democrats
The bill already passed the US Senate with GOP Senator Bill Cassidy flipping his vote after Trump jumped into his primary
Trump can’t veto, but there’s no immediate enforcement mechanism . It’s the first step to defund the Iran war in the US Appropriations bill
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The administration has already declared the War Powers Act unconstitutional and will just ignore it anyway.
The Senate bill is not the same, but it is possible the reconciliation process will pass it
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Its been a norm for south asian countries till the 2000’s. The government subsidizing the fuel. india got away from that and started levying tax on fuels. The other countries havent
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It is not that uncommon in the developing world, but it has a structural problem in embedding energy use at below sustainable market rates. A government really cannot afford to do that, but right now it is a crisis. India got away from it recognizing it was something of a trap - a productivity trap while it was working, and a fiscal trap in times like these.