Oil prices up as Suez canal blocked

cautious colin · Post by **cautious colin** » Thu Mar 25, 2021 8:46 am

https://www.google.com/amp/s/www.cityam ... canal/amp/

Oil prices soared higher this afternoon after one of the world’s largest container ships ran aground in the Suez Canal, blocking the major trade artery.

Latest news is the Dutch firm that salvaged Costa Concordia have been contracted to salvage this one. Could go on for a little while longer yet

KTabi · Post by **KTabi** » Thu Mar 25, 2021 11:56 am

Between OPEC supply drop, regulations, and taxes it's wonderful that we can add a random shipwreck to the list of why fuel prices can go way up and screw the poor.

Marty · Post by **Marty** » Thu Mar 25, 2021 12:03 pm

KTabi wrote: ↑Thu Mar 25, 2021 11:56 am Between OPEC supply drop, regulations, and taxes it's wonderful that we can add a random shipwreck to the list of why fuel prices can go way up and screw the poor.

I totally agree. However, keep in mind that is not only the poor that get skrewd. The rich also get skrewd.

Kammekor · Post by **Kammekor** » Thu Mar 25, 2021 12:12 pm

KTabi wrote: ↑Thu Mar 25, 2021 11:56 am Between OPEC supply drop, regulations, and taxes it's wonderful that we can add a random shipwreck to the list of why fuel prices can go way up and screw the poor.

Since the biggest part of the price of fuel in most countries is tax we have to wonder who screws who.

Marty · Post by **Marty** » Thu Mar 25, 2021 12:49 pm

Kammekor wrote: ↑Thu Mar 25, 2021 12:12 pm
KTabi wrote: ↑Thu Mar 25, 2021 11:56 am Between OPEC supply drop, regulations, and taxes it's wonderful that we can add a random shipwreck to the list of why fuel prices can go way up and screw the poor.
Since the biggest part of the price of fuel in most countries is tax we have to wonder who screws who.

Everybody winds up getting screwed. By the way there's no tax on fuel in Venezuela. But they still wind up getting screwed.

Apollo91881 · Post by **Apollo91881** » Thu Mar 25, 2021 12:57 pm

Marty wrote: ↑Thu Mar 25, 2021 12:49 pm
Kammekor wrote: ↑Thu Mar 25, 2021 12:12 pm
KTabi wrote: ↑Thu Mar 25, 2021 11:56 am Between OPEC supply drop, regulations, and taxes it's wonderful that we can add a random shipwreck to the list of why fuel prices can go way up and screw the poor.
Since the biggest part of the price of fuel in most countries is tax we have to wonder who screws who.
Everybody winds up getting screwed. By the way there's no tax on fuel in Venezuela. But they still wind up getting screwed.

In the US we subsidize oil companies through taxes, and then get taxed at the pump.
Sometimes you get screwed twice.

Marty · Post by **Marty** » Thu Mar 25, 2021 1:01 pm

Apollo91881 wrote: ↑Thu Mar 25, 2021 12:57 pm
Marty wrote: ↑Thu Mar 25, 2021 12:49 pm
Kammekor wrote: ↑Thu Mar 25, 2021 12:12 pm
KTabi wrote: ↑Thu Mar 25, 2021 11:56 am Between OPEC supply drop, regulations, and taxes it's wonderful that we can add a random shipwreck to the list of why fuel prices can go way up and screw the poor.
Since the biggest part of the price of fuel in most countries is tax we have to wonder who screws who.
Everybody winds up getting screwed. By the way there's no tax on fuel in Venezuela. But they still wind up getting screwed.
In the US we subsidize oil companies through taxes, and then get taxed at the pump.
Sometimes you get screwed twice.

Absolutely. The US masquerades as some sort of country that stands for freedom. Freedom to do what? Carry guns? No, the US is all about screwing people. Screwing people hard. Giving them a real pounding, worse than any porno you might have seen.

Apollo91881 · Post by **Apollo91881** » Thu Mar 25, 2021 3:16 pm

Marty wrote: ↑Thu Mar 25, 2021 1:01 pm
Apollo91881 wrote: ↑Thu Mar 25, 2021 12:57 pm
Marty wrote: ↑Thu Mar 25, 2021 12:49 pm
Kammekor wrote: ↑Thu Mar 25, 2021 12:12 pm
KTabi wrote: ↑Thu Mar 25, 2021 11:56 am Between OPEC supply drop, regulations, and taxes it's wonderful that we can add a random shipwreck to the list of why fuel prices can go way up and screw the poor.
Since the biggest part of the price of fuel in most countries is tax we have to wonder who screws who.
Everybody winds up getting screwed. By the way there's no tax on fuel in Venezuela. But they still wind up getting screwed.
In the US we subsidize oil companies through taxes, and then get taxed at the pump.
Sometimes you get screwed twice.
Absolutely. The US masquerades as some sort of country that stands for freedom. Freedom to do what? Carry guns? No, the US is all about screwing people. Screwing people hard. Giving them a real pounding, worse than any porno you might have seen.

Yet the powers that be have also managed to get a large portion of the population to love that screw job. Bragging when they work an 80hr work week, have multiple jobs to get by or about the lost vacation they didn't take during the year.
A land of millionaire news personalities being paid by billionaires to persuade the middle class that poor people are the cause of all the problems in the world, with some Russian interference.

Post by **Clutch Cargo** » Fri Mar 26, 2021 9:29 am

Post by **Clutch Cargo** » Fri Mar 26, 2021 8:48 pm

Bit of related trivia..

The US had a plan in the 1960s to blast an alternative Suez Canal through Israel using 520 nuclear bombs

The US considered a proposal to use 520 nuclear bombs to carve out an alternative to the Suez Canal though Israel in the 1960s, according to a declassified memorandum. The plan never came to fruition, but having an alternative waterway to the Suez Canal could have been useful today, with a cargo ship stuck in the narrow path and blocking one of the world’s most vital shipping routes.

According to the 1963 memorandum, which was declassified in 1996, the plan would have relied on 520 nuclear bombs to carve out the waterway. The memo called for the “use of nuclear explosives for excavation of Dead Sea canal across the Negev desert.”

Full: https://www.businessinsider.com.au/us-p ... 60s-2021-3

Oil prices up as Suez canal blocked

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