World Commodity News Today

fatih birol, welcome to hardtalk. thank you. every year the world awaits your world energy report, it is hugely influential, and this year it said something very interesting. it predicted that, for the first time, demand forfossilfuels, oil, coal and gas, will peak by 2030 and then start to decline. now, is that based on real evidence or is it your wishful thinking? no, i think it is based on very real evidence. there are two drivers which will end up giving us a different world in 203...

fatih birol, welcome to hardtalk. thank you. every year the world awaits your world energy report, it is hugely influential, and this year it said something very interesting. it predicted that, for the first time, demand forfossilfuels, oil, coal and gas, will peak by 2030 and then start to decline. now, is that based on real evidence or is it your wishful thinking? no, i think it is based on very real evidence. there are two drivers which will end up giving us a different world in 203...

fatih birol, welcome to hardtalk. thank you. every year the world awaits your world energy report, it is hugely influential, and this year it said something very interesting. it predicted that, for the first time, demand forfossilfuels, oil, coal and gas, will peak by 2030 and then start to decline. now, is that based on real evidence or is it your wishful thinking? no, i think it is based on very real evidence. there are two drivers which will end up giving us a different world in 203...

fatih birol, welcome to hardtalk. thank you. every year the world awaits your world energy report, it is hugely influential, and this year it said something very interesting. it predicted that, for the first time, demand forfossilfuels, oil, coal and gas, will peak by 2030 and then start to decline. now, is that based on real evidence or is it your wishful thinking? no, i think it is based on very real evidence. there are two drivers which will end up giving us a different world in 203...

A gallon. a big pinch in the wallet. i have to attribute it in part as biden shut down pipelines. just the other day he took nearly a million acres in alaska, one of the most oil-rich places in the world offline. i dont understand why we arent producing more oil here in texas and oklahoma and alaska rather than getting it from saudi arabia. >> bill: it did not help. austan, quick answer on that. >> the reason that the price of oil is spiking is because the iranian-backed mel i shall yeah in yeme...

Happening with russia in war in ukraine. so i think that part is perfectly appropriate. as you know, when you release oil from the strategic petroleum reserve, its direct impact lasts only as long as you are releasing oil. and the question always becomes how does it change the dynamic? its a world commodity. how does it change the dynamic for the other producers? they arent fighting it thus far. a lot of times they say if the u.s. releases oil well cut our oil to try to keep prices the same. the...

Key allies keeping them together is paying off. >> all of this -- the war is really hurting germany, france, other european countries more than any of the others. theyve not fully agreed to all the sanctions. but two countries that are are really not participating in this effort are saudi arabia and the uae. u.s.a. an, talk to me about the persian gulf and opec plus and theyre still doing business with russia. >> the two things to remember is oil is obviously a world commodity. so, the price rea...

Important. i think to the broader inflation point that doug raises and which you are -- youre kind of going at, there, they are stuck in a little bit of a -- in a little bit of a pickle because the timeframe of the easing of the supply chain constraints -- which are easing -- but thats going to be months. and thats not a political timeframe. so thats why its uncomfortable when you look beyond oil, which is a world commodity. >> right. and i understand there are some who say inflation is driven p...

Hardship, groceries 73, gas prices 72, housing costs 53%. steve, it could get worse than this. some suggesting we are just on the leading edge of the inflationary pressures did. >> lets take gas prices. we have an american president who declared war an american energy. doesnt want to produce american oil, gas, coal. shutting down pipelines around the country. it makes no sense and they want to sue the oil companies for charging more money. if you reduce the supply of something this is just junio...

Its role in the united states economy is much smaller. saudi arabias far more dependent on us than we are on them. >> i hear that all the time. are the saudis, austin, investing hundreds of millions of dollars in the united states? are they the reason that our prices are low right now? >> i mean, we get very little of our actual imports of oil from saudi arabia, but oils a world commodity. saudi saudiweudi arabias decisions influence the price of oil. i think whats driving it down are uncertaint...