World Energy Consumption Since 1820 in Charts By Gail Tverberg Figure 1 (above) shows the huge increase in world energy co...
Live World Indices are powered by Investing.com
Monday, 23 September 2019
Saturday, 21 September 2019
At this unprecedented pivital juncture in human history The End Of Fossil Energy is pleased to annouce its support and endorsement of the beliefs, policies and actions of:
"But even if hope has to be held lightly in the steely-eyed recognition of what we face, we still must take action. Much of that action comes back to our own backyards."
A sea change moment?
Wednesday, 18 September 2019
Monday, 16 September 2019
Sunday, 28 July 2019
" oil prices in the wake of the attacks highlights the importance of Strait of Hormuz as a global oil artery"
Middle East Tanker Insurance Rates Soar 10-Fold
Insurance rates for tankers going through the Strait of Hormuz have skyrocketed tenfold in the two months since the first attacks on tankers off the coast of the UAE, CNBC reports, quoting the chief executive of a shipping company. The news could reinforce anticipation of higher oil prices, not because of fundamental factors but because of insurance rates.
The first link in a chain of events that may send prices higher took place in late May, when Middle Eastern media reported attacks on four tankers off the coast of the port of Fujairah, in the Persian Gulf and close to the Strait of Hormuz. Then, about two weeks later, another attack was reported, this time in the Gulf of Oman, right out of the Strait of Hormuz. Finally, Iran shot down a U.S. drone claiming it was flying over its territory.
After the U.S. blamed both tanker attacks on Iran, the drone incident was seen by many as the last straw before open military confrontation. This has not yet materialized, but oil prices spiked after both attacks and the drone shoot-down and reports about insurers hiking their tanker premiums for Strait of Hormuz-passing vessels multiplied.
CAN DIPLOMACY WORK?
- ▼ September (4)
- ► 2016 (260)
- ► 2015 (19)