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Deposit shortage heralds a global energy crisis

More than three months ago, when the war in Ukraine was nothing more than a suspicion, many experts had already…

By admin , in news , at May 12, 2022

More than three months ago, when the war in Ukraine was nothing more than a suspicion, many experts had already guessed Huge global energy crisis. On that 28 January, it cost 84.7 euros to fill an average tank of gasoline. This Wednesday, 105.05 euros.

The rise in fuel prices in the last 100 days has been historic. Brent price is due to pressure on petrol or diesel a price spiral Which forced the government to intervene. The bonus of 20 cents a liter cooled the figures announced by the service station panel, however, the impact the Ukrainian conflict has had on crude oil has only stemmed from a serious problem that has just begun.

Last Tuesday, the eternal Saudi prince, Mohammed bin Salman, attended the last meeting of the oil-producing countries. The purpose of the conclave was to close an agreement on a possible increase in supply in line with world demand. At the end of the conversation, his words were devastating. At the age of 86, Saudi admits “never seen these things”, The emperor was referring to the crisis of energy reserves around the world. “The world has to wake up to the current reality. The world is running out of energy capacity at all levels,” he warned.

no need to go Very far To find similar alerts. Warnings that previously went unnoticed, until the invasion of Russia triggered an energetic earthquake. While Brussels tries to persuade Hungary for a sixth package of sanctions against Putin – which includes a veto on Russian crude – the main OPEC countries believe the deposit’s expiration date is drawing near.

Prices will fluctuate over the next few years due to fuel shortageAntonio Turiel, CSIC Scientist

Saudi Arabia or the United Arab Emirates are direct witnesses. The prices of main energy sources are rising. A growth, which has only been accelerated by the geopolitical context. That January 28, CSIS scientist Antonio Turiel warned in El Debate that Oil production has been in a declining cycle for years Which leads us to the fuel shortage which will lead to fluctuating prices during the next few years. A situation that, according to this expert, would “bankrupt many countries”, especially those that support the weight of their economies on the pillar of oil production.

Over the past few weeks, the cards have been changing. In March the United States and the United Kingdom cut Moscow’s power. Washington announced a few days later that it would issue some 180 million barrels. The Biden administration has had to rebuild its historically broken bridges with Venezuela, from which it has begun buying oil. The same has happened with London, which has not stopped knocking on the doors of producing countries for supplies purchased from Putin. and in the same way, twenty seven will enter the battle for crude the option.

On May 5, OPEC+ approved an increase of 432,000 barrels per day until June. A commitment that its members signed with great difficulty. Crude pumping of many of them has started fallingAnd there are more and more problems reaching the agreed monthly average.

Great hope for the future remains in renewable energy, with winners dwindling. This Wednesday, Maarten Wetsler, CEO of Cepsa, once again pointed to electric batteries and green hydrogen as sources of energy for vehicles.

Spain claimed this Wednesday as the center of this type of fuel. The Minister for Ecological Transition and Demographic Challenge, Teresa Ribera, asked the European Commission to “prioritize” the transport and trade of renewable hydrogen from Spain and southern Europe, where it can be produced “competitively”, as well as promoting electrical connections The Iberian Peninsula with France, with its financing of ‘substantial funds’, was caused especially by Russia’s invasion of Ukraine ‘under the current circumstances’.

Deposit shortage heralds a global energy crisis

2022-05-12 02:44:41