• Sgt_choke_n_stroke@lemmy.world
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    1 year ago

    Or the rise of wind mills, solar panels, and electric cars also decrease the demand… get 2 economists in a room and get 3 opinions.

    Take this with a giant grain of salt.

    • AA5B@lemmy.world
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      1 year ago

      I’m looking for the (long, drawn out) end of the gasoline industry, where we enter a virtuous cycle of:

      • reduced demand
      • lower prices
      • a few fossil fuel companies cut back or go out of business
      • reduced supply
      • higher prices
      • more usages switch to renewables
      • repeat
    • TheAndrewBrown@lemm.ee
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      1 year ago

      This article is about a 19% drop in the last 2 months. Alternative energy methods didn’t increase in popularity/use enough in the last 2 months to cause that much of a drop. The article uses a decent amount of actual data analysis and sources and shows a pretty clear causality between the growth of supply and the stagnation of demand that led to the price drop.

      Renewable energy has definitely led to an overall drop in price over the last 15 years but it wouldn’t cause a drop this drastic without a huge increase in use or improvement in technology.

  • Zuberi 👀@lemmy.dbzer0.com
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    1 year ago

    I don’t get it, it barely comes down during the month.

    Is this insinuating it won’t skyrocket back to 100 in another month…?

    • TheAndrewBrown@lemm.ee
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      1 year ago

      It’s not insinuating that at all, in fact the article is pretty clear that this isn’t some sign of things to come, it’s pretty much only because OPEC and the US have been increasing supply of oil even though demand has been fairly stagnate or dropping. OPEC usually will slow production when prices get too low so there’s a good chance prices will start going back up again soon. The only reason this would be sustainable is if they chose to continue this level of production which they’d only do if they felt it could benefit them long term (for example if they think lower gas prices will prevent an increase in EV purchases, which is possible but not likely at this point).

  • Rob Bos@lemmy.ca
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    1 year ago

    Ugh. As much as I appreciate that people need cheap gas to survive, it does encourage more gas use. :(

    • Nighed@sffa.community
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      1 year ago

      The high prices in Europe due to Ukraine really lit a fire under everyone’s asses to switch energy sources. Useful, even if a lot of people suffered because of it.

  • carl_dungeon@lemmy.world
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    1 year ago

    Oh so people are gonna start slapping Joe Biden “I did that” stickers all over gas pumps now in celebration right?

          • SokathHisEyesOpen@lemmy.ml
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            1 year ago

            Right? It’s so weird that a bunch of blue collar Americans have latched on to a NYC trust fund billionaire, and think he has their interests at heart.

            • vivadanang@lemm.ee
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              1 year ago

              If he wasn’t a racist piece of trash, I’d totally agree to you. He found the exact tool needed to ‘engage’ that audience. Makes me ashamed that the vapid racist population represents enough of a voting block that it was successful the first time.

    • Candelestine@lemmy.world
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      1 year ago

      tbf, the actual analysts usually have much more complex models. It’s the people who are explaining the analysts’ work that leave all that out, probably because americans tend to have the attention span of a rabid barn swallow, so you don’t want to bore them with too much detail.