Energy traders warn that gas stations will run dry of diesel
Mar 24, 2022 16:28:24 GMT -5
Post by OmegaMan on Mar 24, 2022 16:28:24 GMT -5
COLLAPSE ACCELERATING: World’s biggest energy traders warn that “gas stations will run dry” of diesel
Thursday, March 24, 2022 by: Ethan Huff
Tags: Collapse, diesel, diesel shortage, dry, energy, fossil fuel, fuel, Plandemic, risk, Russia, Shortages, supply chain, Ukraine
(Natural News) Gas prices are out of control, but the situation with one specific type of gas, diesel, is perhaps most concerning due to the serious implications of it running dry.
An absolutely critical fuel for maintaining “just in time” delivery of goods and services all around the world, diesel could disappear from some areas of the world due to sanctions against Russia over its invasion of Ukraine.
The heads of one of the largest commodity trading houses and the biggest independent oil trader spoke at the recent FT Commodities Global Summit in Lausanne, Switzerland, revealing that as many as three million barrels of oil and its products a day could be lost due to sanctions against Russia.
Aligning with previous estimates, the global markets for diesel could face a major squeeze, with Europe being most at risk of a “systemic” shortage of diesel that could lead to fuel rationing.
“The thing that everybody’s concerned about will be diesel supplies. Europe imports about half of its diesel from Russia and about half of its diesel from the Middle East,” said Russell Hardy, chief of Switzerland-based oil trader Vitol. “That systemic shortfall of diesel is there.”
Diesel shortages are a global problem, not just a European problem
About 15 percent of Europe’s diesel comes from Russia, according to the FT. This poses serious problems for European supplies as the United States and its North Atlantic Treaty Organization (NATO) allies continue their crusade against Vladimir Putin.
Refineries could boost their diesel output in response to higher prices, but this would come at the expense of other oil-derived products. Rationing, Hardy said, is still a strong possibility.
Continued at link
Thursday, March 24, 2022 by: Ethan Huff
Tags: Collapse, diesel, diesel shortage, dry, energy, fossil fuel, fuel, Plandemic, risk, Russia, Shortages, supply chain, Ukraine
(Natural News) Gas prices are out of control, but the situation with one specific type of gas, diesel, is perhaps most concerning due to the serious implications of it running dry.
An absolutely critical fuel for maintaining “just in time” delivery of goods and services all around the world, diesel could disappear from some areas of the world due to sanctions against Russia over its invasion of Ukraine.
The heads of one of the largest commodity trading houses and the biggest independent oil trader spoke at the recent FT Commodities Global Summit in Lausanne, Switzerland, revealing that as many as three million barrels of oil and its products a day could be lost due to sanctions against Russia.
Aligning with previous estimates, the global markets for diesel could face a major squeeze, with Europe being most at risk of a “systemic” shortage of diesel that could lead to fuel rationing.
“The thing that everybody’s concerned about will be diesel supplies. Europe imports about half of its diesel from Russia and about half of its diesel from the Middle East,” said Russell Hardy, chief of Switzerland-based oil trader Vitol. “That systemic shortfall of diesel is there.”
Diesel shortages are a global problem, not just a European problem
About 15 percent of Europe’s diesel comes from Russia, according to the FT. This poses serious problems for European supplies as the United States and its North Atlantic Treaty Organization (NATO) allies continue their crusade against Vladimir Putin.
Refineries could boost their diesel output in response to higher prices, but this would come at the expense of other oil-derived products. Rationing, Hardy said, is still a strong possibility.
Continued at link