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Dominant oil cartel’s grip on fuel prices may weaken

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A formidable oil cartel currently wields significant control over the prices you fork out at the petrol pump. However, there are indications that its sway in the industry might be on the decline.

For years, this influential consortium of oil-producing nations has manipulated global fuel prices to their advantage. Their decisions have had a direct impact on what consumers pay for gasoline, diesel, and other petroleum-based products. This dominance has not only affected everyday Australians but also shaped international geopolitics.

Recent developments, though, suggest a potential shift in the balance of power. Several factors are contributing to this possible weakening of the cartel’s grip.

Firstly, the global push for renewable energy sources and electric vehicles is reducing reliance on traditional oil consumption. As more countries invest in green alternatives, the demand for oil is diminishing, undermining the cartel’s control over pricing.

Secondly, geopolitical tensions among member nations are straining the unity of the cartel. Disagreements over production quotas and market strategies could lead to fractures within the group.

Furthermore, governments worldwide are exploring ways to increase energy independence, such as domestic oil production and strategic reserves. These efforts aim to mitigate the cartel’s influence on their economies.

While the oil cartel remains a formidable force, the tides of change in the energy landscape may gradually erode its dominance. Consumers could potentially see more stable and competitive fuel prices in the future.

 

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Money

How can we support a more eco-friendly future?

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With a $23 million commitment for a national circular economy and $1.3 million for net zero transition guidance, Australia is advancing towards sustainability.

Funding Futures is a weekly TV show on Ticker, hosted by Mike Loder and Steven Maarbani from Venture Crowd, that delves into the dynamic and evolving world of venture crowd-raising.

In this episode, we are joined by Cameron Hope, Founder of CEO of Hirehood. #trends #funding futures

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Money

The integral step to entering the property market

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In the debate surrounding housing affordability, a divergence emerges between media portrayals and stark realities. While the crisis is often depicted as insurmountable, critics argue that individuals tend to blame external factors rather than taking personal responsibility.

Despite challenges, advocates urge a shift from despair to possibility, emphasizing personal agency and proactive pursuit of homeownership goals. Thus, while acknowledging the hurdles, reframing the discourse empowers individuals to navigate the housing market with resilience and determination, making the dream of owning a home a tangible reality for those willing to seize it. #Trending #Featured

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Money

LA real estate agent reveals the secret to success

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What does it take to be a top performing real estate agent?

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark delves into the fast paced world of LA luxury real estate with renowned agent, Glen Coutinho from Rodeo Realty Beverly Hills. #wyld money #trending

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