What impacts will the UK feel from continued blockade of the Strait of Hormuz?

[-]

SorryNotSorryMatey@reddit

The people in the uk will get more and more pissed of with trump and his mates who are benefiting massively from sky high oil prices, add to that the dodgy trading they’ve been doing in the side. It’s all become clear the whole thing is yet another massive wealth transfer to the fucking rich.

What a total bunch of assholes.

[-]

SalaryHorror7220@reddit

Or we could understand how successive governments have left us vulnerable in terms of economy, security, energy, lack of securing our own fuels that are within our boundaries. - Are Norway having this debate? - But sure blame a foreign leader - PS loved you in the films. Mr Potato Head.

[-]

Evening-Tomatillo-47@reddit

We could do both

[-]

Evening-Tomatillo-47@reddit

I got downvoted for it last time but a reduction of the 50+% tax on fuel might help

[-]

bahumat42@reddit

You think the government would want to increase demand when they have a potential limited supply?

Think about it for more than 3 seconds next time.

[-]

Evening-Tomatillo-47@reddit

Odd how when the prices go up there's suddenly so much demand places run out... No never once thought of it. So when the price comes back down you'll start showering in petrol?

[-]

bahumat42@reddit

That's not odd thats supply and demand.

I'm not defending the oil companies being slow to drop prices (partially due to low competition).

But I'll pose the question to your hypothetical, how are you funding this proposed decrease in tax revenue.

They earn around 2bn a month from the current taxes on fuel.

So let's suggest a modest reduction in that tax of 10%

So that's 200 mn in tax a month to cover. So what spending gets cut or what other taxes go up?

[-]

Evening-Tomatillo-47@reddit

It gets covered by the extra money they were taking because the price went up. Diesel has gone up 40%, they're getting 40% more revenue from it. If they then cut 10% that's still a net gain

[-]

PaleMaleAndStale@reddit

It won't help enough. We've got a lot more to worry about than the cost of fuelling up our cars. Inflated oil prices inflate the cost of literally everything else. Even if the strait were to open tomorrow, it's going to take months or even years to restore all the oil and gas infrastructure that has been destroyed.

[-]

Evening-Tomatillo-47@reddit

Are we even getting that much from there?

[-]

PaleMaleAndStale@reddit

It doesn't matter how much we get directly from the gulf. Oil and gas is priced internationally so if supply is constrained anywhere the price goes up everywhere. If the price of oil and gas increases, so does everything else because there are no goods or services that don't require energy to produce and distribute.

[-]

Ok-Blackberry-3534@reddit

Not really, but oil and gas is a global market. We biy from Norway because it's close, but everyone will want Norwegian oil and gas, so the price will increase.

[-]

Dr-Moth@reddit

It will cause inflation to rise, and in turn interest rates will rise. I'm currently looking at renewing my mortgage, and I could really do with this crisis ending quickly to help get those interest rates down.

[-]

NoCold3997@reddit

😅😅😅 this is England, somebody farts in China and prices and intrest rates go up 😁

[-]

Doomergeneration@reddit

Real possibility of a significant amount of flights being cancelled in a few weeks if nothing changes

[-]

NoCold3997@reddit

I don't know if that's a + or -

[-]

Odd-Paramedic-3826@reddit

I'm gonna have to take matters into my own hands if my trip to italy gets cancelled

[-]

NoCold3997@reddit

1500 miles ..yep you could walk there 🤷

[-]

Mammoth-Passion-413@reddit

I can deal with the fuel being high. My worry is the fertaliser shortage. That means shortage of food mainly.

[-]

whoops53@reddit

Same here with my concerns. As far as I know...the shortages of Co2 will affect meat and dairy so they will be first to go

[-]

SlaveToNoTrend@reddit

Great reset in action. Then they'll push the insects on us.

[-]

boomerangchampion@reddit

Why

[-]

SlaveToNoTrend@reddit

https://www.weforum.org/stories/2021/07/why-we-need-to-give-insects-the-role-they-deserve-in-our-food-systems/

[-]

Relevant__Wave@reddit

Wasn't this great reset meant to happen in 2020.. it's like that kid what's his name... Nastradamus. Always saying right now the world was ending. Is the great reset British and is that why the planning and rollout is so piss poor 😂 anyway good laugh mate

[-]

SlaveToNoTrend@reddit

No always been 2030. And all world leaders are members of the group. Covid was the start, now we have things Like facial recognition and control zones on our streets and nobody even put up resistance. https://youtu.be/f9MfjkBCUH0?si=i7LR8IOkc2oKVHC7

[-]

NoCold3997@reddit

Mmmmm solent green

[-]

Mammoth-Passion-413@reddit

And Britcoin - don't forget that massive control strategy.

[-]

SalaryHorror7220@reddit

Farmers one hand tied, we’re using land for windmills and solar farms. But hey we’re leading the net zero charge. Every country admires that. And they’ll all follow our lead, won’t they, surely???

[-]

Mammoth-Passion-413@reddit

Whilst I would struggle to eat a Solar panel - old Daisy would be prefered on my plate

[-]

NoCold3997@reddit

Going to be fantastic..less traffic, less pollution, less planes in the sky, uk destinations will have a boom with English tourists, people will be using rail more.people may start walking/cycling more eating less , people will have more to moan about ( hey it's England we like moaning) 🤷

[-]

bahumat42@reddit

Price of oil will rise.

So energy and transport costs will rise.

Which will probably feed into almost everything.

[-]

user-captain@reddit

UK public will want less support given to US activities and UK govt will have to give this support covertly. This will come out causing more friction between public and political class.

[-]

Careless_Soup_109@reddit

An environmental revolution, that's what. Obama was statistically America's greatest gun salesman, the current prez the world's greatest green energy transition leader.

Both inadvertently - part of the paradox of power and intention.

[-]

Capt_Capital@reddit

fertiliser shortages are putting our agriculture/food security at risk.

in addition to our sky high petrol costs are the possibility flights starting getting cancelled due to jet fuel shortages. afaik smaller carriers in Asia have already started cancelling flights due to jet fuel prices/shortages.

[-]

AutoModerator@reddit

Please help keep AskUK welcoming!

When replying to submission/post please make genuine efforts to answer the question given. Please no jokes, judgements, etc. If a post is marked 'Serious Answers Only' you may receive a ban for violating this rule.
Don't be a dick to each other. If getting heated, just block and move on.
This is a strictly no-politics subreddit!

Please help us by reporting comments that break these rules.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.