The perils of a gas price linked to LNG
11.03.2026 10:39
👍 1
🔁 1
💬 1
📌 0
The perils of a gas price linked to LNG
Achieving UK’s net zero target by 2050 will cost less than a single oil shock and bring health and economic benefits while insulating the country against future costs, says CCC:
www.theguardian.com/environment/...
Absolutely insane achievement given we aren’t an island.
www.rnz.co.nz/news/nationa...
The Bosphorus, the trifecta of historic, romantic and strategically important
WSJ - IEA proposes largest release of oil reserves in its history. www.wsj.com/world/middle-east...
“Girls Just Want to Have Fun” peaks at #2 today in ‘84
“We got every racial group of girl—mixed, Spanish, white, black, Asian,” said Lauper, “so that every little girl who looked at that video would .. understand that every young woman, older woman, every person is entitled to a joyful experience.”
Coming up next on Radio NZ, Kathryn Ryan previews the new "Kiwis in Climate" book.
I'm honoured to be a co-author of this effort to invigorate climate response in Aotearoa.
Listen in at www.rnz.co.nz/national/pro... #nzpol #greensky
Cartoon. Title: “Energy Drink” Picture shows Methanex president and CEO Rich Sumner sucking the dregs out of a can labelled “NZ” and saying, “Just a minute - nearly done” On the can, in small print it says, “Consumes 45% of NZ’s Natural Gas. Pays $70m to Canadian Owner. Receives high ETS subsidies. Too broke to pay taxes”
Fuel shortages and rising prices. A proposal to import expensive and dirty LNG and impose a gas levy. And then there’s Methanex, sucking up 45% of our natural gas.
My #cartoon today #NZpol #Fuel #FossilFuel
Photo of a cuneiform tablet fragment shaped a bit like an irregular diamond. It preserves nearly 20 incomplete lines of text separated by a horizontal ruling
There's a broken cuneiform tablet from the Old Babylonian period, nearly 4,000 years ago, which preserves a tiny portion of a dialogue between two friends.
It feels a bit like the conversations I've been having for the past week, so I wanted to share it.
Have they said anything about quarterly plans / legislative programme?
👇
Are you a young academic working on climate and feel ready for a move? We are recruiting two Assistant/Associate Professors @granthamicl.bsky.social at Imperial College London @imperialcollegeldn.bsky.social (1/6)
Indeed. Children are being bombed and all we're being fed is reports of gas prices.
#nzpol
This framing of war having a negative impact on the cost of living makes me wanna scream!
That petrol and groceries are the focus over the human cost is so unbearably grim.
I am sick of money being the measure of all worth in this world.
Fuck cost of living, I am worried about cost of lives.
The magic of a really good wonk communicator is that, even when they are talking about terrible things, they make you feel better, just knowing that smart, competent people are out there.
Nobody does that better than Emily. She's the best.
Important to point out that G7 Finance Ministers have nothing to do with decisions on coordinated IEA stock releases. This is the US applying pressure, particularly obvious given the leaking to media. The IEA rules are here: iea.blob.core.windows.net/assets/0cf6b...
I guess contingency planning admits the possibility that things might not go 100% to plan, which is probably not allowed.
#NZ science job
Dunedin is NZ’s university town. As you can see from the photo in addition to the student town, there is also plenty of outdoors to explore. I used to live on the peninsula on the other side of the harbour.
Threading some stuff about oil & oil markets, just basic but hope it helps:
1/ oil markets are what you call “finely balanced”. Supply is usually very very close to demand/consumption. Demand is hard to shift *quickly* in response to supply hiccups.
So even small supply changes = big price effects
Ah, that explains why they're keen for the IEA to act. The US didn't refill its Strategic Petroleum Reserve before starting a Middle East war. Briliant. www.ft.com/content/d546...
Unnamed US officials sounding pretty desperate for a release of oil stocks here. Coverage of Friday's meeeting in Brussels suggests the EU is more sanguine. www.ft.com/content/e114...
Bring back the half price public transport fares again to combat high petrol prices!!!!!! #nzpol
Electricity prices are going up, but for other reasons!
With 90% renewable electricity, gas still sets the wholesale price 80% of the time. Fortunately, our domestic gas price isn't currently linked to international prices. IF we import LNG, that will mean that international prices flow through into our gas and hence our electricity prices.
We also have an EV as our daily driver (though it's modest range). So the need to buy petrol is rare, but always unwelcome.
Status: filling the PHEV with sunshine so I can drive it to the petrol station and top it up with war horrors.
At the risk of boring everyone,a little context.
$100 oil in isolation isn’t that bad. It averaged around that level from 2011-2014 without severe economic ramifications*.
It’s the pace of the rise that has people spooked. And not knowing where it might stop.
The paddock next to the Peach Teats sign was for sale a while ago, and that seemed to me to be a pefect location for a SH1 themed destination cafe/charger.
This! For around-town, local driving, supermarket etc. there are very cheap 2nd hand EVs available. No they won't do a 1000km road trip, but they will save you heaps on day-to-day.
Or a level up, you could look at what we bought: a $15k Leaf with 220km range.
There is a round of price rises going on but it's for other reasons: low-user tariffs being phased out, lines charges increasing. NZ's electricity price doesn't currently couple to international gas prices but will in future if we import LNG.
