Iran are toast

[Protagoras]

Reeves vows to ‘crack down’ on energy and fuel bosses exploiting Britons through ‘rip-off’ prices

https://www.theguardian.com/politics...-politics-live

Or, government could look at the policy cost reasons for high energy prices in the UK, such as
- the 'market' mechanism that allows electricity prices to be set by gas prices around 98% of the time.
- Fuel Duty is set at a whopping 52.95p / litre (and set to rise) and then 20% VAT on top.

Maybe start by fixing that which is within government's control?

[woody1]

Still waiting for our oil delivery. Chased the supplier yesterday and discovered that, when I reduced the quantity to the minimum 500L, they reset the clock back to the 15-day lead time. Shame they didn't mention that would happen at the time.

Time to crank up the woodburner and fan heaters before we run out.

[WTFH]

Reeves vows to ‘crack down’ on energy and fuel bosses exploiting Britons through ‘rip-off’ prices

https://www.theguardian.com/politics...-politics-live

Or, government could look at the policy cost reasons for high energy prices in the UK, such as
- the 'market' mechanism that allows electricity prices to be set by gas prices around 98% of the time.
- Fuel Duty is set at a whopping 52.95p / litre (and set to rise) and then 20% VAT on top.

Maybe start by fixing that which is within government's control?

They could put an extra 25p on the fuel duty, then make a big song and dance about taking it off again - purely as a publicity stunt.

[woody1]

https://news.sky.com/story/midget-su...ormuz-13518700

"Midget subs and kamikaze drone boats - how Iran can block the Strait of Hormuz

The fear of mines laid by submarines, kamikaze drone boats and GPS jamming have effectively closed the Strait of Hormuz.

Iran has long threatened to shut the narrow waterway through which 20% of the world's oil supplies passes, knowing that doing so would cause market havoc and send prices soaring. This is effectively what has now happened.

At least 16 ships have been hit by Iran since the conflict began, with Tehran releasing a video (below) of what it claims is the moment an oil tanker was attacked off the coast of Iraq - with devastating consequences."

[ladymuck]

There was a post I saw on Instagram last night that took an interesting angle to the situation in the Strait of Hormuz, essentially saying that Lloyds of London has effectively closed the strait by refusing to provide war risk insurance (which is incorrect). Rates have gone up, as one would expect, but insurance is very much still available. Apparently some crew are reticent to use the strait, which is also very understandable, and some ship owners are actually humans and are deciding that risking their crews' lives is not worth it (although I'm sure the decision making is more about the cost of keeping the cargo safe).

[Protagoras]

Still waiting for our oil delivery. Chased the supplier yesterday and discovered that, when I reduced the quantity to the minimum 500L, they reset the clock back to the 15-day lead time. Shame they didn't mention that would happen at the time.

Time to crank up the woodburner and fan heaters before we run out.

Supermarket locally had no diesel yesterday and no idea when they'd get a delivery.

[Paddy]

The Strait of Hormuz has been an issue for 40 years, in that time pipelines to the Red Sea could have built

[sadkingbilly]

The Strait of Hormuz has been an issue for 40 years, in that time pipelines to the Red Sea could have built

KSA has one to yanbu from ras tanura.

[woody1]

KSA has one to yanbu from ras tanura.

I read that the Iranians are rumoured to have their eye on that. I imagine it wouldn't be that difficult a target.

[willendure]

There was a post I saw on Instagram last night that took an interesting angle to the situation in the Strait of Hormuz, essentially saying that Lloyds of London has effectively closed the strait by refusing to provide war risk insurance (which is incorrect). Rates have gone up, as one would expect, but insurance is very much still available. Apparently some crew are reticent to use the strait, which is also very understandable, and some ship owners are actually humans and are deciding that risking their crews' lives is not worth it (although I'm sure the decision making is more about the cost of keeping the cargo safe).

I read that the Americans are underwiting the shipping insurance if there are takers. Speculation that they might permanently push Lloyds out of this market as a result.