Energy price is going up rather sooner than later.

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iGas

Diamond Member
Feb 7, 2009
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UPDATE 2-Xstrata, Chugoku agree on record coal price for 2011

PERTH, April 1 (Reuters) - Xstrata and Chugoku Electric have settled an annual coal contract for the Japanese fiscal year starting April 1 at a record level despite the near-term thermal coal demand destruction caused by the deadly earthquake in Japan last month.

The contract was settled just under $130 per tonne, over 30 percent higher than last year's contract, sources told Reuters on Friday.

The settlement price exceeds the 2008 record of $125 per tonne, and is in line with expectations for a higher settlement price due to weather-related production difficulties in Australia.

"It's the first of April now, it's extraordinarily rare in thermal trade for negotiations to carry on into the period that they relate to, so I reckon they just came together and said it was $130 per tonne before the quake, that's a fair price," Tom Price, an analyst with UBS in Sydney said.

The Newcastle index closed at $129.87 the day before the earthquake, but the settlement price is nearly $10 above the current globalCOAL index for Australia's Newcastle coal, the benchmark for Asian prices, which closed at $120.84 for the week to date on Thursday.

"Prices are a bit lower right now because there's a lot of stranded cargoes around Asia that were supposed to deliver into Japan. Once that trade clears, the producers will make sure that the price lifts again to about that level," Price said.
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Oil may run out by 2060: HSBC

almost as apocalyptic as U.S. President Barrack Obama’s energy strategy speech Wednesday: “The United States of America can not afford to bet our long-term prosperity and security on a resource that will eventually run out. Not any more. Not when the cost to our economy, our country and our planet are so high.”

A 110% increase in oil demand to more than 190 million barrels a day to fuel the extra billion cars that are likely to be on the road as emerging world incomes increase.

A doubling in total energy demand as emerging market growth powers ahead.

A doubling in the amount of carbon in the atmosphere, more than three and a half times the amount recommended to keep temperatures at a safe level.

But HSBC’s key point is that the world’s 2050 energy output will not be able to meet the demands made on it.

New oil discoveries are harder and rarer to find, such as the one announced by Statoil and Eni in the Northern Arctic on Friday. The IEA estimates that since 1990, each year new discoveries have only been sufficient to offset half of production. Equally worrying, the size of fields discovered has been falling and is currently around one tenth of the size of discoveries made in the 1960s.
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Not to be an alarmist but it the writing is on the wall. We have enjoy cheap oil for years and there is a resent and at time hostile by some people because oil price has dramatically increased in the last few years. And, the nuclear saviour isn't so clean/safe after the Japan disaster.

IMHO, this is the last nail in the coffin when "dirty" thermal coal is fetching a good price on the global market.
 
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ImpulsE69

ImpulsE69

Lifer
Jan 8, 2010
14,946
1,077
126
Unfortunately there is not a thing "we" can do about it. Unless one of the "concerned" creates a clean self replicating energy that is available anywhere anytime, and then releases that information on the internet free of government and corporations, this world will eventually grind to a halt.

Money drives advances, the energy companies are rolling in it and have no incentives at all to look for alternative ways to produce energy. Hybrids, Solar, Wind, Water etc are all lip service, but with all the advances in tecnology no one can make a decent car that gets more than 50MPG that doesn't use gasoline. It's not because we can't, it's because they don't want to.

Our government is also just lipservicing as well since alot of their funds come from energy companies. Also, this whole "oil will run out XXXX" is bs time and time again. They don't know. They like to pretend they know. Ultimately all it does is drive up cost.

I for one am glad I don't have children, and hope I'm dead before everything comes tumbling down.
 
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OverVolt

OverVolt

Lifer
Aug 31, 2002
14,278
89
91
Speculators drive up prices and now its an apocalypse? Last time they bubbled up to $147 they crashed hard. It won't stay where it currently is.
 
Spikesoldier

Spikesoldier

Diamond Member
Oct 15, 2001
6,766
0
0
i get a nice chuckle every time i line up next to a big suv, truck, or eight cylinder car at a red light.
 
XZeroII

XZeroII

Lifer
Jun 30, 2001
12,572
0
0
dmcowen674 said:
Oil $107.94 and climbing fast

Gas soaring to $5

My drive for five has arrived once again

Donald Trump says gas will be $8 this year.

Cool story Bro :cool:
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You've been saying that for years. It's no longer a prediction. You can't take credit for "predicting" that something will happen year after year after year.
 
mmntech

mmntech

Lifer
Sep 20, 2007
17,501
12
0
Gas here is supposed to shoot up to 1.30/L ($4.90/gal) tomorrow. Same price it hit following Hurricane Katrina. It's $1.24/L now. I gassed up a Lincoln MKX at work today and it nearly cost $80 from 1/4 to fill. The cube trucks we have with their 150L tanks are murder to fill. Our fleet card has a $200/day limit. Filling the F-450s easily maxes it out.
 
C

Crono

Lifer
Aug 8, 2001
23,720
1,502
136
They really should rename Politics and News to Politics and Economics, and this thread should go
<--

That said, I'm not surprised by the news. As the date draws closer, there will be greater worry and a resulting increase in energy prices. All the more reason we should be dumping much, much more money into alternatives.
 
olds

olds

Elite Member
Mar 3, 2000
50,124
779
126
We are in for a shitload of inflation this year. All it will take is one disaster like an earthquake or another 911 here and we'll be at war with each other.
 
C

Crono

Lifer
Aug 8, 2001
23,720
1,502
136
oldsmoboat said:
We are in for a shitload of inflation this year. All it will take is one disaster like an earthquake or another 911 here and we'll be at war with each other.
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I doubt that. It would take the fall of our infrastructure and economy to get us to that point. And that would require a massive, massive disaster. Much greater in extent than the earthquake that hit Japan or even an attack 9/11.

An external attack would be more likely to band the country together than tear us apart. Not unless it was a major WMD attack.
 
JulesMaximus

JulesMaximus

No Lifer
Jul 3, 2003
74,584
985
126
Zifnab said:
I doubt that. It would take the fall of our infrastructure and economy to get us to that point. And that would require a massive, massive disaster. Much greater in extent than the earthquake that hit Japan or even an attack 9/11.

An external attack would be more likely to band the country together than tear us apart. Not unless it was a major WMD attack.
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Please...we're already at each others throats. Dems vs Retardicans, religious vs non-religious, black/hispanic/azn vs white, gin vs vodka, dogs & cats living together...mass hysteria!
 
C

Crono

Lifer
Aug 8, 2001
23,720
1,502
136
JulesMaximus said:
Please...we're already at each others throats. Dems vs Retardicans, religious vs non-religious, black/hispanic/azn vs white, gin vs vodka, dogs & cats living together...mass hysteria!
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Oh, don't be so dramatic. Unless you are being sarcastic, in which case turn it up a notch :p

As far as I can see in real life, nothing is beyond a few words here and there and just exaggerated in the media. The vast majority of people are fine with everyone else (to a certain extent). It would take a lot, lot more for people to be literally at each others throats.
 
Chaotic42

Chaotic42

Lifer
Jun 15, 2001
34,845
2,017
126
We need a massive "man on the moon" kind of push for battery technology and fission power. We also need to increase research on fusion power. It's a matter of national security.
 
rudeguy

rudeguy

Lifer
Dec 27, 2001
47,351
14
61
anyone know where I can get a Flinstone's car?

I need to start working out again, so this would kill 2 birds with one stone. (an American stone not a British one)
 
Jeff7

Jeff7

Lifer
Jan 4, 2001
41,596
20
81
XZeroII said:
You've been saying that for years. It's no longer a prediction. You can't take credit for "predicting" that something will happen year after year after year.
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It works for the end-of-the-world crazies, even after the world doesn't end.:D
 
rudeguy

rudeguy

Lifer
Dec 27, 2001
47,351
14
61
Jeff7 said:
It works for the end-of-the-world crazies, even after the world doesn't end.:D
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how do you know the world hasn't ended? If time is infinite, then the word has ended since the world is finite.

We just don't know it yet.
 
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