Posted on 03/08/2022 3:13:41 AM PST by Olog-hai
As the Russian invasion of Ukraine intensifies, calls have been growing to boycott Russian oil. In an appeal released last week, 465 organizations in 50 countries asked their governments to stop using Russian energy.
“The world’s fossil fuel addiction is funding Putin’s warmongering,” said the statement, which was signed by organizations like Greenpeace, Extinction Rebellion and Fridays for Future, among many others.
In an oil market analysis published by The Oxford Institute for Energy Studies last week, Russia is ranked as the second-biggest producer of crude oil in the world, pumping around 14% of the world’s total output in 2021. About 60% of Russian crude exports go to Europe, with another 35% heading to Asia.
Experts say Europe alone is paying Russia around €350 million ($382 million) a day for it. […]
Part of the answer could lie with the world’s largest producer of crude oil, Saudi Arabia.
Saudi Arabia and neighboring United Arab Emirates (UAE) are thought to be the only two major oil producers who could ramp up spare production comparatively easily.
It would still be difficult for their oil to quickly replace supply coming out of Russia, said Karen Young, founding director of the Program on Economics and Energy at the Middle East Institute, based in Washington. “Increasing production does not mean increasing exports directly to Europe,” she told DW. “Oil markets are not that easily redirected.” …
(Excerpt) Read more at dw.com ...
Sure they will. Kinda like Satan will teach you to play guitar for the cost of your soul. Eff Biden and DC for the pain they are causing the American people.
It’s not just our Deep State.
The irony of this entire sanctions’ kabuki theatre is Russia is making substantially more on its energy exports after the war than before. Europe is not importing less Russian energy after the start of the war but more, except Russia is receiving 35% more for its product than before the war because the war has driven energy prices up at least 35%. We have not cut back on importing Russian energy and China is taking all Russia will send. Even Ukraine is receiving Russian energy by letting it flow thru the pipeline to Poland and Poland reselling it back to Ukraine. The Swift sanctions sleight of hand trick was for public consumption because 20% of Russian banks were exempted and that was because Europe insisted some Russian banks not be subject to SWIFT sanctions so they could funnel payments to Russia for the Russian energy they were buying. The cold reality is Russia is making money from this war, although that is not why they started it. Meanwhile Biden is exhorting our enemies like Iran and Venezuela to produce and ship more oil after cutting US production over the last year when the only nation producing and exporting less energy this year than last is the US because of his policies
Sure, just like they did when OPEC was created under Carter.
Remember GAS LINES? You could only buy gas on even/odd days that matched your license place number?? At triple the price???
Will Arabs do what? Forgo profits on hyperinflated oil futures? Yeah right...
With respect to America, how worthwhile is it to vest deep ties with a nation that takes a 180 turn on policy, from sound and beneficial to outright lefttard insanity in a matter of 4-8 years? Any time the left takes control we bring chaos into the world. Those relying on such a relationship best look out for themselves.
Making alliances or business deals with people who HATE US is not going to solve anything!
It will only make things worse for all of us. If Joe and his corner don’t see that... they are dumber and MORE selfishly arrogant and dangerous than the Russians!!
Hell NO…they will pile on…
OPEC was started in 1960 when JFK was president.
They only became a real power under Carter.
shut up
It would still be difficult for their oil to quickly replace supply coming out of Russia.
Some more of that Biden and stooge crew planning in action.
Great. What's next? Polyester leisure suits?
Carter was president in 1960? That’s the year OPEC was created.
If we did have a 1970s Batman series, they’d have to feature Ra’s al-Ghul.
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