{"id":64278,"date":"2022-11-29T19:11:32","date_gmt":"2022-11-30T00:11:32","guid":{"rendered":"https:\/\/olduvai.ca\/?p=64278"},"modified":"2022-11-29T19:11:32","modified_gmt":"2022-11-30T00:11:32","slug":"worlds-most-crucial-fuel-diesel-heads-for-shortage-touching-everything","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=64278","title":{"rendered":"World’s most-crucial fuel diesel heads for shortage touching everything"},"content":{"rendered":"
\n
\n

World’s most-crucial fuel diesel heads for shortage touching everything<\/a><\/h3>\n

Within the next few months, almost every region on the planet will face the danger of a diesel shortage<\/strong><\/p>\n<\/div>\n<\/div>\n

\n
\n
\n
<\/i>\"diesel\"<\/div>\n<\/div>\n
Photo: Bloomberg<\/div>\n
\n
\n

No fuel is more essential to the global\u00a0economy<\/a>\u00a0than\u00a0diesel<\/a>. It powers trucks, buses, ships and trains. It drives machinery for construction, manufacturing and farming. It\u2019s burned for heating homes. And with the high price of natural gas, in some places it\u2019s also being used to generate power.<\/p>\n

Within the next few months, almost every region on the planet will face the danger of a\u00a0diesel<\/a>\u00a0shortage at a time when supply crunches in nearly all the world\u2019s energy markets have worsened inflation and stifled growth.<\/p>\n

The toll could be enormous, feeding through into everything from the price of a Thanksgiving turkey to consumer bills for heating homes this winter. In the US alone, the surging\u00a0diesel<\/a>\u00a0cost will mean a $100 billion hit to the economy, according to Mark Finley, an energy fellow at Rice University’s Baker Institute of Public Policy.<\/p>\n

\u201cAnything and everything that gets moved in our economy, diesel is there,\u201d Finley said. \u201cMoving stuff around is one thing. People potentially freezing to death is another.\u201d<\/p>\n

In the US, stockpiles of diesel and heating oil are at their lowest point ever for this time of year in data going back four decades. Northwest Europe is also facing a low buffer \u2014 inventories are forecast to hit a low this month and then tumble even more by March, shortly after sanctions come into play that will cut the region off from Russian seaborne supplies. Global export markets have gotten so tight that poorer countries like Pakistan are getting shut out, with suppliers failing to book enough cargoes to meet the nation\u2019s domestic needs.<\/p>\n

\u2026click on the above link to read the rest\u2026<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

World’s most-crucial fuel diesel heads for shortage touching everything Within the next few months, almost every region on the planet will face the danger of a diesel shortage Photo: Bloomberg No fuel is more essential to the global\u00a0economy\u00a0than\u00a0diesel. It powers trucks, buses, ships and trains. It drives machinery for construction, manufacturing and farming. It\u2019s burned […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[5752,33295,14047,32798,33433,33432],"class_list":["post-64278","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-bloomberg-news","tag-chunzi-xu","tag-diesel","tag-diesel-shortage","tag-elizabeth-low","tag-jack-wittels"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64278","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=64278"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64278\/revisions"}],"predecessor-version":[{"id":64279,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64278\/revisions\/64279"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}