Energy prices this winter

[Mups]

Is this all Trump's fault?    It is going to hit so many people hard this year.
Just received this:

Quote:

Hi,

 Today, Ofgem's Energy Price Cap rises by 3.6% - and sadly, that may be the least of our worries. The latest forecast predicts a further 21% rise from 1 Jan, the coldest time of the year. If that happens, it'd mean rates over 30% higher than the same period last year - though in practice, heavy gas users would see bigger rises, electricity-only users smaller.

Unquote:

30% is a heck of a lot of increase, isn't it. 

[klondike]

Trump is to blame for the diesel having picked a fight with Iran and failing to finish the job. He is facing big problems in both houses in the midterm elections and either has or is thinking about banning export of their diesel in the hope of reducing fuel costs in the US and maybe reducing the size of the defeat.

Pricier diesel makes everything  more expensive.

In the case of UK domestic energy costs they are mostly dependent on the cost of gas which sets the marginal wholesale price of our electricity and is needed to cover the times renewables don't deliver.

We used to have our own North sea gas and oil for diesel which was refined here. Net zero policies pushed our energy prices up so refining went overseas and there are no new drilling licences being issued thanks to Milliband.

So yes Trump is to blame for some of it but our own government's Net Zero policies are the main problem.

[muddy]

I do t understand it as we don't get our oil from Iran .

[Dextrous63]

Other countries in the gulf ship their oil products through the Straits of Hormuz.

[muddy]

We get most of our oil from the US and Norway .

[klondike]

I do t understand it as we don't get our oil from Iran .

When Iran stopped the others getting through then, at least as I understand it, the US navy stopped Iran getting through too. I've no idea what the current situation is. I assume not good.

The supply has dropped. Less supply = higher prices. It's a global market.

[Alex]

Are we no longer blaming the Russians then ?

[klondike]

I think the Russians would dearly love to be able to sell oil but those dastardly Ukrainians get upset about the Russians sending missiles into their schools, hospitals and apartment buildings so they have the cheek to keep on blowing up the poor Russians refineries in the hope they'll spend their cash on repairing them instead of buying Korean and Iranian missiles.