SMH
Prices.... Going Up!!!
- Thread starter musichal
- Start date
Somehow I feel the oil companies will post record profits next quarter.
First world problems.
Nobody shooting or bombing me today.
Food to eat.place to sleep. Relatively peaceful existence.
Luckiest person ever.
Grateful for all the blessings in my life.
Nobody shooting or bombing me today.
Food to eat.place to sleep. Relatively peaceful existence.
Luckiest person ever.
Grateful for all the blessings in my life.
Mystic
We're all born mad
It's not that ^^^ way for a whole lot of people who reside in The First World ... people who face, daily, poverty, food insecurity, lack of access to adequate / affordable healthcare, lack of / no access to adequate shelter and more .... the list goes on but I'll stop here.
In short, rising prices can have a hugely negative impact on tens of thousands of people residing in The First World. Whether you're in Calcutta or Appalachia, hunger is hunger.
grinx76
Well-Known Member
especially anyone who is on a fixed income for whatever reason, like my mom.
it was hard before. now it is 8% harder.
Mystic
We're all born mad
Fixed income, whether on retirement pension, various disability income, etc., all are quite vulnerable to any inflation, much less what's afoot these days.
Mystic
We're all born mad
As of 17:53 Paris / 11:53 Eastern, NG is up a few points per commodities trading:
Note the rate of increase in the columns Weekly, Monthly, and YoY:
Weekly @ 22.18%
Monthly @ 37.81%
YoY @ 187.43%
Interesting that petroleum -- "crude" and "Brent" -- are down. Today.
I will work on assembling a graph that shows NG going back farther than one year.
Attachments
Mystic
We're all born mad
PS: I've not previously queried YCHARTS for natural gas data, be interesting to see what level of data are there.
I am mystified as to how something imported and exported by the U.S. by pipeline (Canada and Mexico) is affected so substantially by Russia cutting off Europe's supply.
Our natural gas prices in Illinois went from $.68 per therm in April (which is double from the year before) to $1.11 per therm in May.
Our natural gas prices in Illinois went from $.68 per therm in April (which is double from the year before) to $1.11 per therm in May.
audiocrzy
Super Member
I’m thinking that corporate greed is a big factor in rising prices. Consumer goods prices are going up, not because they need too but because they can. We’re all expecting higher prices so that’s what we will get.
Mystic
We're all born mad
This + "bets" that supply and access will become still more constrained as kinetic forces, physical and economic, only intensify.
Y'all think "supply chain(s)" are stressed now? Wait until shipping ceases to budge even an iota.
Mystic
We're all born mad
1. Before tackling price trends over, say, the last 5-10 years re: natural gas (NG) @ YCHARTS, I thought to take a look a the latest commodity board action for NG and petro-based fuels and uranium (nuclear NRG). Immediatey noteworthy is that YoYfor NG increased overnight, from 187.43% MMBu, to 195.10% MMBu -- quite an increase in fewr than 24 hours.
Let's have a look @ NG + Petroleum NRG commodities:
Note: These data for commodites status as of 6 May 2022 @ 9:42AM PARIS TIME
Uranium:
So NG is holding fast and the petroleul-based commodities are on the rise, as is uranium, likely benefiting from the fact that France has, as of May 2022, broken ground for THREE NEW REACTORS and is contracted to construct still THREE ADDITIONAL REACTORS over the next decade.
And for what it's worth, COAL:, whose cost has increased significantly since the "green asault" of circa 2020-2021 and especially since chatter re: petroleum embargos have enflamed (engulfed, lol?) The EU Zone...
2. This morning's story (so far) re: "traditional precious metals", where fiat currencies go to die and not much more in the 21st century, thus their importance is dimished:
Interesting that the demand for COPPER, a component of EV batteries, remains "soft", but a look at the market price trends for metal and checmical elements deemed most critical to EV battery production tell a different story.
And, for what it's worth, PLATINUM, like other precious metals, declining as its importance diminishes:
Useful for jewelry and such, not much strategic importance in what's to come.
3. EV battery MAIN ELEMENTS pricing as of 6 May 2022 @ 9:42AM PARIS TIME:
Huge YoY increase. Quel surprise, eh?
Rising... fast.
Rising. Recall not long ago this metal was effin' cheap. No longer the case. (see "Cobalt")
Still another "minor" metal that's now on the rise.
Most electric vehicle batteries are lithium based and rely on a mix of cobalt, manganese, nickel, and graphite and other primary components. Because GRAPHITE is not tracked by most materials commodities services, I leave y'all wit this nugget:
Annually, the largest amount of GRAPHITE extraction / mining activiey occurs in China: 650,000 MT.
PS: I'll be back with a NATURAL GAS supply/demand~costs graph
Mystic
We're all born mad
Some good news / developments re: lumber costs. Trading as of 6 May 2022:
Overall, cost of lumber decreased YoY largely owing to decreased demand as overall construction in the guise of new structure starts and existing structure remodeling activities -- commercial and retail / home real estate -- has slowed to halted entirely across the EU Zone, China, Russia, and throughout the USA and Canada. It is up very) near term, but the YoY decrease of -37% is isgnificant and telling.
A concomitant decline in commercial and other real estate sales activity is also very much in evidence. The decline in (overall) construction will result in a decline in the number of jobs / trades associated with this industry.
Last edited:
In Illinois, our State law-makers have given our economy a shot in the arm by foregoing an anticipated $.03/gal tax increase!!!!!!
Lot's of cheering at the State Capitol for helping out the common man.
And, the State is printing up labels proclaiming this fact which must be attached to every gas pump.
Let's do some fun math! (if there are any legislators reading, I could probably simplify the formula with visuals like cute animals or colors or something....)
$.03 per gal/$4.39 current cost per gal = .0068% savings per gallon!
Lot's of cheering at the State Capitol for helping out the common man.
And, the State is printing up labels proclaiming this fact which must be attached to every gas pump.
Let's do some fun math! (if there are any legislators reading, I could probably simplify the formula with visuals like cute animals or colors or something....)
$.03 per gal/$4.39 current cost per gal = .0068% savings per gallon!
NH-MAN
Addicted Member
You forgot to figure in the additional loss from the stickers and advertising for their great achievement.
felix_katze
Well-Known Member
Yesterday I went past a service station - JPY164/L. Just no real change here.
