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UAE to leave OPEC

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381–390 of 750 posts

Re: UAE to leave OPEC

#381

Earlier quoted context omitted.

Agreed - the good news is, in many circumstances renewable energy is cheaper for new energy capacity. As long as regulations move in the right direction, we are likely to see the global energy mix move towards renewable sources over time

Not only is the renewable energy cheaper, it also raises energy independence, which turns out to be quite relevant in today's world. Furthermore, it also reduces the drain on the (often very fragile, for thirld world countries) foreign reserves, especially relevant when the oil prices fluctuate wildly. If your solar panels are old and you don't have money to replace them, you get slightly less electricity. If you are…

This is exactly why I don't think it's a huge risk to be reliant on China for solar panels. If relations between your country and China go bad, it can't be that much of an emergency when they stop exporting them to you. All the panels you already bought still work!

Unless there is some hidden cybersecurity risk of them shutting off panels remotely?

Re: UAE to leave OPEC

#382
post #323

This is the US trying to salvage the petrodollar. They want those t-bills and oil priced in dollars to maintain reserve currency status, but the whole world is divesting anyway. UAE is hoping that by leaving OPEC they can continue to do business and get protection from US. But US isn't gonna risk a larger war just to defend UAE, US has plenty of oil to exploit in Venezuela and at home. So UAE is just kinda screwed, a…

I’ve developed a simple heuristic: If someone unironically invokes petrodollar as an explanation for anything in 2026, they’re probably not worth taking seriously.

seriously. instant indicator that their world view is irreversibly warped by tiktok politics.

Re: UAE to leave OPEC

#383
post #59

Earlier quoted context omitted.

Best of luck! These proxy wars have existed since the days of Assyria. 3000 years and running. Kind of depressing thought actually.

> Kind of depressing thought actually I gotchu: https://youtu.be/-evIyrrjTTY ("This Land is Mine", 3 min)

Finally, a history video I fully understand

Re: UAE to leave OPEC

#384

Earlier quoted context omitted.

It's the other way around: Renewables will remain a fantasy until we achieve energy independence.

When it comes to fossil fuels, there's no such thing as 'energy independence' because fossil fuels are traded on a global market. In addition, not all oil is the same. So you have to trade it because what you can extract may not be what is useful to you, but useful to someone else. In short, the US cannot functionally be independent on fossil fuels even if we extracted every drop of oil within our borders--because we…

In extreme scenarios it is certainly possible for the US to ban exports of certain fossil fuels, effectively making an internal US market that is isolated from the rest of the world and basically energy independent.

Yes, we would need to build more refining capacity to use it all effectively, but in a cataclysmic event (i.e. a world war or something) the US would be much much better off than most other countries.

Re: UAE to leave OPEC

#385

Earlier quoted context omitted.

> The war did not had to start at all and is causing considerable harm already. Iran feeling pain does not mean surrounding states were protected - instead they were put into harms way. They were always in harm's way. The war could have waited, and Iran could have doubled or tripled its missile stockpile and then they really would have been in harm's way. You're falling in to the same trap I mentioned "country does X…

> They were always in harm's way. The war could have waited, and Iran could have doubled or tripled its missile stockpile and then they really would have been in harm's way. I keep hearing this line defending US intervention but it doesn't really make sense. Iran was not threatening shipping traffic in the strait regardless of how many missiles they stocked up until they were forced to do so as an asymmetric warfare…

> I keep hearing this line defending US intervention but it doesn't really make sense. Iran was not threatening shipping traffic in the strait regardless of how many missiles they stocked up until they were forced to do so as an asymmetric warfare response to an attack by a superior military.

Why would they threaten to do so prior to being ready? Have you ever played a strategy game where you build up your forces for an advantageous offensive or defensive position? Countries do this too. If we were playing a game where my actions would provide some advantage or victory over you in some area or a broad area, why would I announce what my intentions were to you so you could react or anticipate my actions?

Separately, you can just ask: why are they even stockpiling missiles in the first place? Why isn't Singapore stockpiling missiles, or perhaps Portugal, or Panama, or Morocco? Of course, this then introduces the circular reasoning "because of a potential US attack", but of course if Iran wasn't funding Hamas, Hezbollah, Houthis, and more, building up these missile stockpiles, continuing to pursue a nuclear bomb, helping Russia with its invasion of Ukraine, we wouldn't be here. At some point you just have to look at their actions and their actions suggest implementing a plan.

> The missing ingredient has never been how many missiles Iran has stockpiled, it was external military action from someone like the US that gave them the window to assert that control.

They don't have control over the Straight of Hormuz. It's a bit of semantics, but control would mean they can allow or disallow ships to pass based on their own decision making. They can disallow ships, but the US can also disallow ships. If Iran controls the Straight of Hormuz because they can fire missiles at ships, the US also controls the Straight of Hormuz because of that very same capability.

Re: UAE to leave OPEC

#386
post #62

Earlier quoted context omitted.

As I recall, it was Saudi Arabia that largely bank rolled Pakistan's "not party to the Nuclear Non-Proliferation Treaty" weapons program [Ω](?) . [Ω] https://en.wikipedia.org/wiki/Pakistan_and_weapons_of_mass_d... So there's that.

We all live in a yellow cake submarine.. Its a pakistani submarine, with exclusive saudi-royalty members on the bridge. We should build a city that is a statistical bunker- basically a line, for the edge case of jihadist insurgents getting the forbidden eggs in the cake.

Oh like mark Zuckerberg 30th through 40th mansions?

Re: UAE to leave OPEC

#387
post #204
post #88

Earlier quoted context omitted.

Virtually all Arabs hate Israel but Arab governments are more varied. The modern Egyptian state is oriented toward close partnership with the US, and a large part of that was peace with Israel post '73. So yes, the UAE could align with both.

[flagged]

Arabs dont have equal standing and treatment in israel. Also, Israel is increasingly far right and best estimate is less rights in the future.

Re: UAE to leave OPEC

#388

"My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, and my grandson is going to ride a camel". Sheikh Rashid bin Saeed Al Maktoum, the former Emir of Dubai.

Its a fun line, but the volume of money they have and the way its managed says they are looking at retaining that wealth somehow

Their whole investment castle is built on sand (pun intended) and when oil even remotely starts to fade out as a commodity, it will crumble instantly. Panic will ensue and corruption will be rampant in order to continue the lavish consumerism. Everything will be sold for pennies. The difficult thing is not to make money once, it's to keep them afterwards.

Re: UAE to leave OPEC

#389
post #273
post #59

Earlier quoted context omitted.

Best of luck! These proxy wars have existed since the days of Assyria. 3000 years and running. Kind of depressing thought actually.

I tried to make sense of middle eastern politics once. My conclusion has been „It’s complicated.“

Reminds me of this (by now completely outdated) middle east friendship chart I once came across.

[0]: https://www.slate.com/blogs/the_world_/2014/07/17/the_middle...

Re: UAE to leave OPEC

#390
post #102

Earlier quoted context omitted.

A healthy cartel means consistent oil prices. Without it, oil may average cheaper over the long term (and almost certainly over the short term), but there will be a lot more variance.

Ok? If you can’t have price variance buy futures. Price variance doesn’t matter for consumers, just average price.

Price variance matters a lot for consumers, especially gas/oil.
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