Global Stocks Sink as Oil Prices Surge

pfdietz

It's as if Trump was looking for another way to tank the GOP in the fall election.

jmclnx

Just checked on https://oilprice.com/ . it is above 100 USD. There was an article here (IIRC) about Climate Change and 1.5C may be reached by 2030. With high Oil Prices, maybe it will force some countries to take climate change seriously.

softwaredoug

I mostly worry the US will now need to constantly bomb an unstable region under Israel’s horrifying “mow the grass” philosophy[1]. Both from the fact that’s horrific cost of life in the Middle East and creates perpetual resentment making the US less safe. 1- https://en.wikipedia.org/wiki/Mowing_the_grass

fabian2k

We'll see if the markets are still too optimistic here or not. I don't see how this will resolve quickly, so the Strait of Hormuz will likely remain essentially closed for quite a bit longer. I don't see any escort plans by US military ships as working, if Iranian troops actively try to disrupt this.

coreyh14444

Tired of winning?

xenospn

Cheap stocks. Nothing wrong with that! Just keep on buying index funds and you’ll do just fine.

ChrisArchitect

Related: Oil Surges Past $100/barrel https://news.ycombinator.com/item?id=47302323

nagisa

The humanity has all the knowledge and tools it needs at this point to have anybody: individual persons, counties, countries, continents be much more self-sufficient in energy, in a way that makes economic (and all sorts of other) sense. I am glad to personally be largely independent of molecule-sourced energy March to October. Hoping that the countries affected by oil instability take this as an opportunity to learn this lesson as well.