Now that 32 countries have agreed to release strategic oil reserves on to the market, to counter the rise in oil (and petrol) prices, it will be interesting to see how immediately prices fall back.....

[chrismayla6@zirk.us]

RE: https://zirk.us/@ChrisMayLA6/116211310444055277

Now that 32 countries have agreed to release strategic oil reserves on to the market, to counter the rise in oil (and petrol) prices, it will be interesting to see how immediately prices fall back.....

No prizes for observing the downward move will be likely slower than the upwards price hike(s).

#oil #economics #Iran

[gnaddrig@mastodon.social]

@ChrisMayLA6 @Lazarou
And it will be interesting to see what they will do once the reserves have been used up and there will still be no new oil available.

[lazarou@mastodon.social]

@gnaddrig @ChrisMayLA6 "Solarpunk or Collapse"

[gnaddrig@mastodon.social]

@Lazarou @ChrisMayLA6
Not without much wringing of hands and lamentations.

[lazarou@mastodon.social]

@gnaddrig @ChrisMayLA6 ...and blood

[alantperry@mstdn.ca]

@ChrisMayLA6

Whilst I'm not averse to this release of reserves, they are finite so this move may only be slowing the inevitable. The best move would be to use the time being bought to double down on decarbonisation.

[chrismayla6@zirk.us]

@alantperry

Indeed it would, but it won't be.....