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Higher diesel prices predicted (IMO-2020)
#1
Blame it on the UN. Or not.

But IMO 2020 is gonna hit the heavy shipping industry hard on January 1, 2020. The IMO (International Maritime Organization) is an agency of the UN, and they are essentially in charge of international shipping vessels.

IMO 2020 is a complex and detailed emissions act aimed at reducing the sulphur oxide emissions of heavy ocean-going cargo ships that ply our oceans by the tens of thousands, spewing out toxic emissions.

The newest regulations will be in effect January 1st, but as the world's refineries ramp up to supply the new blends that the vessels burn, diesel fuel prices are expected to rise...some estimates are as low as only a few percent, or maybe as high as 30% higher for a gallon of diesel at the pumps, at least for a while as the refineries adjust.

Most of these vessels burn a lower grade of fuel oil called 'bunker fuel', but to meet the new low-sulphur requirements, some of the higher grades of fuel oil from each barrel of crude will have to be siphoned off to make the new blends the ships will be using, possibly impacting retail gasoline and diesel prices at the pump.

The trucking industry is gonna be taking the brunt of higher diesel prices, but those of us with diesel pickups, vans, and motorhomes might also take a hit in higher prices at the pump.

I placed this article in the Finances subforum, because many of us are on a tight budget when it comes to fuel prices as we travel. This is not a thread designed to be political...but politics do play a role in our daily lives.

Let's hope the price increases are minimal and short-lived.

Sources:

http://www.imo.org/en/MediaCentre/HotTop...-2020.aspx

https://mansfield.energy/market-news/imp...el-prices/

https://www.breakthroughfuel.com/blog/su...el-prices/

https://blogs.platts.com/2018/12/17/imo-...consumers/
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#2
That is what I heard in the 70s about gas hitting over 50 cents a gallon
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  • Wabbit (06-27-2019)
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#3
I read from some seemingly respectable source, I forget which, that the sulfer emitted from just a few bunker oil burning Cargo ships exceeds that of all the passenger cars in the world combined.

Not sure how true it is.
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#4
The links I posted above are not parsing correctly for me (pilot error) so let me try again...



http://www.imo.org/en/MediaCentre/HotTop...-2020.aspx

https://mansfield.energy/market-news/imp...el-prices/

https://www.breakthroughfuel.com/blog/su...el-prices/

https://blogs.platts.com/2018/12/17/imo-...consumers/
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