House Committee Asked to Solve High Fuel Prices

[webfact]

 

BANGKOK, Nov 17 (TNA) – The Land Transport Federation of Thailand asked the House committee on energy to solve high fuel prices and threatened to escalate its pressure like that in Germany.

 

Apichart Prairungruang, chairman of the federation, sent a letter to seek a solution to high fuel prices to Cholnan Srikaew, leader of the Pheu Thai Party, and Kittikorn Losunthorn, Pheu Thai MP who chairs the House committee on energy.

 

Mr. Apichart said retail oil prices were rising in the country while there were unfair oil price structures and problems about energy management which affected people and oil users directly and indirectly.

 

Full story: https://tna.mcot.net/english-news-825235

 

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[Gold Star]

There is not much they can do, other than offer a temporary subsidy.

 

The price of a barrel of oil is merely at average levels over the last 30 years when adjusted for inflation.

 

Global capital investment in oil production has been driven down to levels of approximately 65% of what is needed merely to keep up our worldwide demand of 100 million barrels per day, which will really start to take effect 5 years after sue to the average lead time of projects. 

 

We have the anti oil movement to thank for this, as any transition to renewables will be much to slow to make up the difference. The mass hysteria driving the intended pace of implementation is beyond any feasible level on a global scale. As a result, grid blackouts and energy shortages will drive up commodity prices as industries shut down, and create energy shortfalls which will ironically be made up for by underdeveloped nations burning more coal. 

 

As we look forward into the future, OPEC+ is close to being out of spare capacity while demand from non OECD countries is increasing, and the trajectory of oil prices can only go up from here. This presents once in a lifetime opportunities right now to invest in shunned oil exploration and production companies, as they are trading at severely low multiples to the free cash flow they generate, even with $60/bbl oil. 

[heybruce]

Oil prices are driven by supply and demand.  Since Thailand can do little to affect supply, it can only work on reducing demand.  How about confiscating the fuel guzzling super-cars owned by billionaires and police chiefs?

[jacko45k]

Perhaps a quick call to King Salman bin Abdulaziz Al Saud......

[zzaa09]

6 minutes ago, jacko45k said:

Perhaps a quick call to King Salman bin Abdulaziz Al Saud......

A call to Beijing might offer better results.

[hotchilli]

18 hours ago, webfact said:

BANGKOK, Nov 17 (TNA) – The Land Transport Federation of Thailand asked the House committee on energy to solve high fuel prices

Price of oil goes up, fuel costs go up.

Or do Thais want everything subsidised to protect them from the real world?

[xtrnuno41]

IF you see the listing of fuel prices of countries, then you notice a lot of differences in price.

SO mostly effective on prices are taxes. Governments make a lot of money with fuel.

The country i live in, cant call it my country, is number 2 in the world list on the most expensive price on fuel.

Tax, they have set in to cut emissions and tax is the thing to do it, as they always do.

You must have quite a good income to drive your car, maybe every day to go to work.

They force you to do otherwise, car pooling, public transportation and so on.

 

You are not allowed anymore to eat meat, so they raise tax. They are about to destroy all meat (cows, pigs, chickens)

farmers. They force you to eat only vegetable. No more milk, cheese buuter or ...meat in "old fashioned way".

 

They didnt fill up gasreserves for winter when prices were low. Though advised by "experts".

So now we have shortage and have to pay the increased price of gas.

On gas there is also a 50% tax. By costing a way lot more, they force citizens here to live in the cold winter.

with less heat. You have to dress up with 5 layers of clothes in your own house.

They are now "thinking" of lowering tax on gas, but as i said thinking.

Really need to get out of here, but where to go? Thailand?