First of all, oil and gas value is measured in joules, not currency.
Second of all, go to the wiki and examine the capacity of Chinese refineries. https://en.wikipedia.org/wiki/List_of_oil_refineries
Do the same for India, though you will find India’s throughput in tons, not barrels. Generally 7 barrels/ton.
Now go get the spreadsheet for Chinese oil and India’s oil domestic consumption. About 14 million bpd and 5 mbpd, respectively.
If that number exceeds refinery capacity they are importing product as well as crude. You will find a surplus capacity in India but not China.
The crude India buys from Russia to refine and product ship to Europe is still barrels from Russia.
I don’t quite understand the obsession with dollars that Russia does not use. They use barrels and if you want to make the case for Rubles, they (unlike the Soviet Union) have a Fed-like central bank no longer constrained in its money creation to the 5 year plan of the Economics Ministry. They can create all the rubles they want. And run their society on them — with some marginal correlation to joules of output.
The world is not what it was. They have more gas than anywhere else on Earth. There is nothing anyone can do about that. 37 trillion cubic meters. And they consume less than 1 Trillion/yr. The US has 12 and consumes over 1. Yes, that’s 12 years. Will more be found? Yes, more in Russia than the US.
They were the wrong enemy to make. A day will come when we beg for their oil or gas. Why should they say yes?
They were the wrong enemy to make. A day will come when we beg for their oil or gas. Why should they say yes?
UKronazis cheerleaders don’t like it but in fact much of the world is joining hand to take us down economically.
And a large percentage of them produce oil.
These morons in our wh think we don’t need hydrocarbons.
Or. Could be they really are destroying us.
You might want to check your math. Existing US reserves of natural gas provide something closer to an 86 year supply.
Dollars or joules, barrels or tons. The result is the same
Russia went from real surplus in terms of income to printing money and their expenses are rising rapidly, while their production capacity is decreasing
The UShas plenty of reserves and capability to increase production, the political will to do that is a real question, and we will see how that plays out
The point is Russia actually Putin didn’t need to do this, there was no threat to them from NATO, they were trading with the west and making lots of money, though as is with most fascist regimes most of it was concentrated with the few. There is a reason Putin is the richest man in the world
Putin gambled, thought his energy reserves and europes past dependence on it would cause them to cave and he could have his empire and power restored
After this is all over the reserves are still there and they will be used, who controls them will be the question
A dictator like Putin or a regime more willing to be a cooperative part of the world
“A day will come when we beg for their oil or gas. Why should they say yes?”
I agree, particularly with Democrats in charge (something that never seems to bother the Operatives, by the way).
Anyway, they might say yes under 2 conditions: China is acting up against them and the US has an ADULT (meaning a non-Neocon) in charge.
The Neocon cheerleaders don’t take into account that much of our natural gas (and oil) reserves have been locked up by the people they support, the Democrats.