@nickcunningham.bsky.social
Reporter for Gas Outlook, covering oil and gas industry. Previously at DeSmog. Portland, Oregon https://nickcunningham.blog/ https://gasoutlook.com/authors/nicholas-cunningham/ https://www.desmog.com/user/nick-cunningham/
Induction stoves fly off shelves in India as gas shortage fears spark panic buying
www.reuters.com/business/ene...
great article on India, Iran, and the depraved murder of more than 80 Iranian sailors by the US government.
www.bloomberg.com/news/feature...
Thanks to Ember for some unpublished data, I made this chart showing the massive shift away from gas-linked power prices in Spain, relative to the increasingly gas-reliant market in Italy
No wonder Italy wants to tackle high power prices!
7/8
Useful reminder on why war is good for Big Oil, even when production is directly affected:
A "higher oil price more than offsets the loss of Middle East production", TotalEnergies said today.
"In some circles, to ‘Schatz’ something is starting to be used as a verb, by which I mean undermining bills that take on corporate power, pretending to be motivated by progressive concerns, when it is transparent to everyone involved that he is just trying to build chits with powerful industries"
For those who may not know — this move the Pentagon is making now was also the first deployment in the Vietnam War…
"Declaring that no quarter will be given" is specifically prohibited by Art 23 of the Annex to the Hague Convention IV, which means it is a war crime under US domestic law by virtue of the War Crimes Act (18 U.S. Code § 2441).
No idea what a fair price for oil is right now, but $100 seems like the market is dramatically under appreciating the severity of the ongoing disruption.
One thing I've been stressing is that, if Hormuz traffic remained stopped, the monumental oil supply shock will manifest as sharp price spikes in wealthy nations that sap disposable incomes
In poorer countries, the shock will manifest as outright physical shortages.
This thread from a US senator is deeply worrying
I don't think most people grasp the insane amount of resources that the US allocates to weapons and war machines. The list of better things we could do with the military budget is nearly endless.
"The Trump crime syndicate apparently wants to control the world’s oil resources right when world oil demand is peaking. And their actions will accelerate the move away from oil and their precious LNG. They are fighting the last war and amassing assets that will be worth a lot less in the future."
“The Iran war has once again exposed the continent’s reliance on fossil fuels, with oil and gas prices soaring”
I’m briefly in India. This is a facile observation, but Americans have barely scratched the surface in understanding how the rest of the world is reacting to this war. It’s already an Iraq War-style disaster in the global imagination, underscored by the thuggishness and caprice of the Trump approach
more and more are saying
BofA: History suggests marked and persistent spikes in the price of crude can trigger persistent inflationary cycles.
Iranian journalist reports in front of the flames of a burning Oil depot.
12/ 2 wars in 4 years. This war will accelerate Solar +Batteries + EVs as real Energy Security
"rest of the world will learn an important lesson from China. Build out your renewables so you aren't as dependent on imported fossil fuels & the whims of idiots"
Be like Spain.
bsky.app/profile/jere...
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.
11/ BREAKING: SUNDAY 6pm ET. Markets open. Brent and WTI crude jumps more than 20% to above $110 a barrel!
Markets last week - Short War.
Markets this week - Oh no no no no.
Where could it go? How does it end? Thread @thepolycrisis.bsky.social buttondown.com/polycrisisdi...
bsky.app/profile/70sb...
some keep on telling this story of people not wanting green policies, warning politicians to steer away from climate policies, yet the majority in the heartland of German car production has just voted for a guy that has not backtracked from saying that e-cars are the future
bsky.app/profile/jere...
This is the largest oil supply shock in history in mb/d
The enemy gets a vote. Iran is now delivering pain to Trump via multiple paths
(1) Gulf Kings
(2) Financial meltdown
(3) AI tech oligarchs
(4) Fuel, fertilizer, food disruptions
Read our Polycrisis Dispatch:
buttondown.com/polycrisisdi...
One of the lessons of the Iran war is that it was a huge mistake not to even try to put any of the Iraq war architects in prison. We shouldn’t make it again.
I was in Tehran this time last year. I want you to see how beautiful my city is. I want you to see the city the US/Israel is trying to wipe off the face of the earth
Geneva Convention 1977 Protocols:
“It is prohibited to attack, destroy, remove or render useless objects indispensable to the survival of the civilian population, such as... drinking #water installations & supplies and irrigation works... for any other motive.”
Lindsey Graham: "If we get in a fight, I want to win it quick. I'm in Miami. You see this hat? 'Free Cuba.' Stay tuned. The liberation of Cuba is upon us. We're marching through the world. We're clearing out the bad guys. Cuba is next."
14/ THIS.
"Commodity analysts in my feed: This is epic and will go down in the history books as one of the biggest supply shocks.
Mainstream media: Some slight disruptions in the availability of a few commodities might happen. Meanwhile, here's a video of another exploding launcher." - Guy Laron
15/ India is going to be a hotspot of pain.
1 Food fuel fertilizer disruptions in on farmers & factories
2 Gulf war threatens the livelihoods of millions of Indian workers & billions of dollars in remittances they send home.
3 budget CUTS as subsidy bills balloon
www.nytimes.com/2026/03/03/b...
It is absolutely insane that the US appears to have targeted desalination plants first – putting them onto the board. Iran seems to have already retaliated against one in Bahrain. This is one of the most obvious ways this could spiral.
March 8, 2026 - Tehran at sunrise today. But the sun is hidden behind a sky filled with smoke. After a night of intensive strikes on oil facilities, thick black clouds now hang over the city, turning morning into something that feels like night.