Finance thread 2022.

[Gone]

Germany has spent €500 billion on wind power.

They now pay €1000 mwh (up for €70) their emissions are higher, factories are closing, and Hamburg has no hot water…………………………

[maxjam]

2 hours ago, TexasRam said:

Germany has spent €500 billion on wind power.

They now pay €1000 mwh (up for €70) their emissions are higher, factories are closing, and Hamburg has no hot water…………………………

If only someone could have warned them not to be so reliant on Russian gas back in 2018...

[Gone]

36 minutes ago, maxjam said:

If only someone could have warned them not to be so reliant on Russian gas back in 2018...

I know imagine someone doing that and getting laughed at, that wouldn’t happen would it?

[maxjam]

So if I buy 10 kettles...

(Wasn't sure whether to put this in the finance thread or the joke thread)

[Van der MoodHoover]

I don't know the answer but has anyone seen any stats on what the global supply of gas, coal, oil etc is and the global energy demand and how it's moved over the past few years? 

I'm wondering whether there is financial speculation going on which is distorting the price. 

When the oil price started spiking around 2012-2013, companies like gold man sachs started writing lots of futures and the futures market became completely disconnected from the "spot" market. 

GS were known to have taken positions in the futures market, then buying tankers full of oil and sailing them around for weeks to create a supply shortage so that they could close out their financial positions at huge profits that more than covered the cost of hoarding the actual oil. 

There's value in the maxim "follow the money"..... 

[Rev]

I've read a small amount about Fracking.

From what I've read, aren't our reserves of shale gas theoretical rather than proven, and the geology of the United Kingdom is rather different than the United States? 

As I understand it, even if we are sitting on a potentially usable source of energy, the population density and techniques required to extract it and not cause damage to existing infrastructure are incompatible with our situation?

[1of4]

Seems we're worrying about nothing, when it comes to the increase of our energy bills. We just need to buy a new kettle for 20 quid and we'll make a savings of £10 on our leccy bill over the course of a year. Good to see Johnson has a firm understanding of how the economy works. 

[Stive Pesley]

September 2nd.  

"even factoring in the government’s existing cost of living support package, annual shortfall of £7000 for a single working person, and £6200 of a working couple with two children, to afford a basic standard of living. A  single working-age adult out of work, with no children would receive 32% of the minimum income needed for a decent standard of living"

"Football teams spend £1.8 Billion on transfers"

[Ram-Alf]

14 minutes ago, Stive Pesley said:

September 2nd.  

"even factoring in the government’s existing cost of living support package, annual shortfall of £7000 for a single working person, and £6200 of a working couple with two children, to afford a basic standard of living. A  single working-age adult out of work, with no children would receive 32% of the minimum income needed for a decent standard of living"

"Football teams spend £1.8 Billion on transfers"

The ONS says a single person(pensioner)needs £16,005 to have a basic standard of living, My annual income is £15,987-circa £700 tax, I have a reasonable standard of living, But those who only have the basic state pension of £9555...are living on fresh air and are ducked, Yet the utility companies over the next 2 years according to Government statistics will reap £170billion...go figure ?  

[Eddie]

15 hours ago, 1of4 said:

Seems we're worrying about nothing, when it comes to the increase of our energy bills. We just need to buy a new kettle for 20 quid and we'll make a savings of £10 on our leccy bill over the course of a year. Good to see Johnson has a firm understanding of how the economy works. 

He doesn't even have a firm understanding of how crayons work.

[maxjam]

Russell Brand video...

Not everyones cup of tea (his delivery is very grating at times) but there is lots of information packed into 20 mins about the current energy crisis.  

The first half of the video sets the scene and can be skipped if you really can't stand him, the second half runs you through a lot of information - price increases, corporations profits, government corruption and how the media is treating us plebs.

Most importantly he highlights the 'Don't Pay UK' protest.  Sign it.  Even if you can afford your bills this winter millions won't be able to, stand with them.  Nothing will change unless we all unite and demand change.

 

[Tyler Durden]

22 minutes ago, maxjam said:

Russell Brand video...

Not everyones cup of tea (his delivery is very grating at times) but there is lots of information packed into 20 mins about the current energy crisis.  

The first half of the video sets the scene and can be skipped if you really can't stand him, the second half runs you through a lot of information - price increases, corporations profits, government corruption and how the media is treating us plebs.

Most importantly he highlights the 'Don't Pay UK' protest.  Sign it.  Even if you can afford your bills this winter millions won't be able to, stand with them.  Nothing will change unless we all unite and demand change.

 

I saw the Don't Pay protest on the web last week doesn't their strategy revolve around if they get million subscribers they will cancel their utility direct debits by the 1st of October in protest?

Sure it was running around 140k last time I looked.

Surely they must know that the utility companies will just pass this cost onto other users if they do deliver on their threats?

[maxjam]

1 hour ago, Tyler Durden said:

I saw the Don't Pay protest on the web last week doesn't their strategy revolve around if they get million subscribers they will cancel their utility direct debits by the 1st of October in protest?

Sure it was running around 140k last time I looked.

Surely they must know that the utility companies will just pass this cost onto other users if they do deliver on their threats?

Watch the video, certainly the 2nd half and if you're not inspired to join the cause then I guess the upcoming crisis doesn't really effect you or anyone you know - but it will effect millions. 

Without delving too much into the old thread that must not be mentioned, angst around the world was increasing pre-covid.  The pandemic led to the biggest wealth transfer in history and the growing realization of an elite/media class vs everyone else divide. 

The looming energy crisis will lead to death and poverty on a massive scale unless we all stand together whilst energy companies and elites continue to make massive profits and earn huge sums.  The Poll Tax was defeated through mass revolt, imho its time to stand together and spread the word.  Lets get the campaign to 1m subscribers.  Then 2m.  Then 10m.

According to the Chancellor, anyone earning less than £45k will need help with their energy bills.  As the average salary in the UK is around £32k, thats an awful lot of people.  How can a modern country in 2022 force people to choose between heating and eating - and thats just for a basic standard of living... Get up, go to work, go home, eat, shiver, repeat.

I've never been into politics and I'm tired of all the identity crap but this is a cause that should unite us all.  The runaway Govt/Corporate greed needs taking down a peg or two and some balance has to be restored.  Increasing authoritarianism and disdain for the common man will imho lead to a lot of violence over the coming months.  I've subscribed as part of a peaceful protest and hope the Govt do something about it before its too late. 

[uttoxram75]

1 hour ago, Tyler Durden said:

I saw the Don't Pay protest on the web last week doesn't their strategy revolve around if they get million subscribers they will cancel their utility direct debits by the 1st of October in protest?

Sure it was running around 140k last time I looked.

Surely they must know that the utility companies will just pass this cost onto other users if they do deliver on their threats?

Unified protest is the only thing that will make the price increases even slightly affordable. If enough people signed up to Don't Pay it might just scare them enough to water it down a bit.

[SSD]

I saw Ukraine's first lady stating that Europe are only paying in the price in pennies and Ukraine are paying the price in blood. I'm all for backing Ukraine and not using Russian based energy or products.

What I can't support is energy companies making billions of pounds in profit and then being told that I need to pay triple for my utilities because it's moral responsibility. Maybe I'll see these extra taxes by the energy companies being reflect in bringing down the cost of living. Oh wait, my shopping bills are still increasing even though I shop at the cheapest supermarket. My rent will still increase by 10%, meaning I need to find more cost cutting. 

I can't be preached by the powers above to tell me to do the moral thing when there's companies making billions off a war and ordinary people having to suffer so they can heat their homes. 

Genuinely makes me more set on my dream of finding some land and living off it.

Edited September 4, 2022 by SSD

[Tamworthram]

1 hour ago, SSD said:

I saw Ukraine's first lady stating that Europe are only paying in the price in pennies and Ukraine are paying the price in blood. I'm all for backing Ukraine and not using Russian based energy or products.

What I can't support is energy companies making billions of pounds in profit and then being told that I need to pay triple for my utilities because it's moral responsibility. Maybe I'll see these extra taxes by the energy companies being reflect in bringing down the cost of living. Oh wait, my shopping bills are still increasing even though I shop at the cheapest supermarket. My rent will still increase by 10%, meaning I need to find more cost cutting. 

I can't be preached by the powers above to tell me to do the moral thing when there's companies making billions off a war and ordinary people having to suffer so they can heat their homes. 

Genuinely makes me more set on my dream of finding some land and living off it.

Your point would be  valid if it was the same person/entity preaching to you that was making the billions. 

Regarding the Ukrainian first lady (if that's who said it), I guess she's just trying to bring a bit of perspective and is worried about support waning in the face of increased energy costs. 

[Bob The Badger]

On 28/08/2022 at 22:04, GeneralRam said:

Electric is costing me $40 a month here in the US.

UK really needs to u-turn on policy and start with the Shale gas and fracking.

Jeez, which state are you in?

I was paying about $250 per month averaged over the year in Florida before we moved back in October 2020.

Prior to that when we rented a bigger house with a pool it regularly hit $500 per month.

Mind you. Florida is effectively a monopoly (at least Central Florida) as we only had one supplier available to us.

Do you have AC?

[uttoxram75]

10 hours ago, Tamworthram said:

Your point would be  valid if it was the same person/entity preaching to you that was making the billions. 

I think there is some validity in it though Tamworth. The big energy companies are making billions and they have huge influence on those preaching.

[Tamworthram]

8 hours ago, uttoxram75 said:

I think there is some validity in it though Tamworth. The big energy companies are making billions and they have huge influence on those preaching.

Yes but it’s not them doing the “preaching”. The lady concerned doesn’t have any power or influence over the massive profits being made.

[Comrade 86]

On 28/08/2022 at 22:04, GeneralRam said:

Electric is costing me $40 a month here in the US.

UK really needs to u-turn on policy and start with the Shale gas and fracking.

  2022 Figures. And you can keep your fracking too ?