because $10 a gallon gas is so good for the environment!
The headline seems to be a misnomer. It only talks about what would happen, not about what may actually happen.
I doubt it.
We’ll see if I am right in a week.
“Though India has already increased its imports of Russian oil to three times 2021 levels, its ability to continue to act as a sink for displaced Russian oil supply remains in question as the US warns India not to increase imports further.”
I’m sure the Indians are quaking in their bootsw.
So is that the plan, we destroy Western economies in hopes that the economic pain we render upon Russia is enough to unseat Putin? Seems unlikely to work and more likely to get pushback from its citizens whom they are casting into increased poverty. It’s like cutting off one’s nose to spite one’s face.
And many FReepers will share the blame.
The EU makes these bureaucratic “green” decisions without the explicit consent of the governed. Wonder how much real decline Europeans will tolerate before they take power away from Brussels. The price of oil will indeed rise with this “embargo”. However the Russians will sell all the oil they bring to market and will receive even more money to fund their war. Of course even the EU bureaucrats are not so stupid to boycott Russian gas. It would collapse the German economy and put them all out of work.
Current futures quotes for WTI end-of-year are running roughly $95 per barrel.
I for one do not see how this is even possible. Germany would collapse, economically.
Nevertheless, I think it’s an excellent bet to buy oil on today’s weakness. USO is one possible vehicle. Risk a buck to make $4.
185 dollar oil will enrich Russia’s economy and pauperize Europe and America. China will then stop exporting anything useful to the USA, like lithium and medicines and tech products including the great transformers to replace those that break in our Grid which we originally moved the production of to China and do not produce here any more. Russia has already begun to transition to a commodity-mostly gold- backed money. America with Europe could become seedy backwaters of the world in a couple of years if something miraculous does not happen like, for instance, Trump’s brain and health invading and inhabiting Joe Biden’s body and a plague of paralysis affecting the entire deep state and bureaucracy.
$185 oil? This mess could have been avoided if the EU had listened to Greta Thunberg way back when.
I kid, of course. This mess is occurring because the EU listened to Greta Thunberg way back when.
Let’s go Brandon!
About bloody time. Nothing less than a total trade embargo is called for here.
You don’t call for Putin to be ousted all while handing billions to his regime every month. One or the other.
Winters pretty much over (though we got snow here in Cleveland area last night) so they can afford to tighten the screws till October now....
Oil is fungible.