Posted on 06/22/2022 2:10:00 PM PDT by Mount Athos
When the United States and European Union moved to curtail purchases of Russian fossil fuels this year, they hoped it would help make the Russian invasion of Ukraine so economically painful for Moscow that President Vladimir V. Putin would be forced to abandon it.
That prospect now seems remote at best.
China and India, the world’s most populous countries, have swooped in to buy roughly the same volume of Russian oil that would have gone to the West. Oil prices are so high that Russia is making even more money now from sales than it did before the war began four months ago. And its once-flailing currency has surged in value against the dollar.
(...) Skyrocketing oil prices pose a potent threat to President Biden less than halfway into his term.
Russian crude sales to Europe dropped by 554,000 barrels a day from March to May, but Asian refiners increased their take by 503,000 barrels a day — nearly a one-for-one replacement.
Russia took in $1.7 billion more last month than it did in April, according to the International Energy Agency.
Once the refiners turn oil into diesel or gasoline, no one can distinguish whether the fuels they ship to Europe and elsewhere come from Russian crude. That means Western motorists who think they are paying more for non-Russian fuel may be mistaken.
“Those molecules, a lot of them are Russian,”
This month alone, Russia’s Finance Ministry estimated, government coffers were expected to receive $6 billion more in oil and gas revenue than anticipated because of high prices.
(Excerpt) Read more at nytimes.com ...
” Oil prices are so high that Russia is making even more money now from sales than it did before the war began four months ago”
Well gee that didn’t work out so well, what a bunch of idiots we have in the White House.
More STICKING IT TO PUTIN!!!
The Biden spiel in the primary was to curtail "fossil fuels" to force "transition" to "renewable" energy, but "fossil fuels" are not from fossils but from a recurring geologic process of hydrocarbon formation. The scam could not have worked, even without Russia, as adding massive numbers of EVs to an already unstable power grid was a flight of fancy.
The Biden administration along with the von der Leyen EU Commission administration believed their combined economic power would topple Russia, a la a "color revolution." They were patently wrong.
The BRICS coalition is becoming stronger, the Euro and dollar weaken with inflation rampant in Europe now as here. If the SWIFT system is bypassed on a permanent basis, the liberal West need to clean its debt-laden books damn quickly.
America was energy independent when Trump left office. It took no time at all for the Democrats to make America dependent again. And Europe is heading back to coal now. Ah, progress from the "progressives."
When will these idiots who call themselves “journalists” do their homework about oil. It’s NOT a fossil fuel but a renewal resource.
Where are our shrieking warmongers, the ones who posted phony article after article praising Biden and his sanctions?
eveeryone knows...sanctions rarely work,,,,,,,they’re killing us
Huh? Are the whales pissing oil in oceans? I thought it takes millions of years to create oil from organic material due to high pressures from gravitational forces.
What is Brandon going to do about stopping 1200 brand new coal fired power plants under construction right now in many countries around the world, with China & India in the lead.
More often than not, whenever you dig a hole for someone else to fall in there is always a good chance for you to fall in yourself!
More often than not, whenever you dig a hole for someone else to fall in there is always a good chance for you to fall in yourself!
A lot of people want to make this about Russia versus NATO, but in reality, this story is propaganda from Biden to justify him being the cause of gas prices rising so high.
He did that!
Now he has the NY Times attempting to blame his foreign policy.
How about a story on all the oil we “could” be producing under Donald J. Trump?
Because if that was the case, we could easily survive without Russian oil.
Oh Hell, we never would have reached this point with Russia if Trump was still president!
When one sees a hit piece on Biden in this manner from the NY Times, one has to simply ask WHY???? Why would the NY Times run a piece on Biden’s (i.e., Neocons) policy towards Russia, that makes their buddies in the White House look like idiots?
My hunch is that the Times is telling Biden’s people that the sanctions (at least on fuel) are NOT WORKING, and it’s time to let go. Otherwise, why run the story at all.
As to why to let go, I’m thinking that the REAL FEAR that is driving this shift is NATURAL GAS, and the legitimate concern that Europe is looking a DEEP FREEZE this winter if the Neocons don’t back off.
“What is Brandon going to do about stopping 1200 brand new coal fired power plants under construction right now in many countries around the world, with China & India in the lead.”
For both, rushing headlong to cut off their fuel supplies, even if that means WW3, for NOTHING, not even nuclear war, can be worse if the planet warms by 1.6C, rather than 1.5C, over the next 50 years.
Therefore, no choice for the Neocons but to start this war, and now to finish this war - as the planet loses if we do nothing.
We should stop this propaganda from Russia Today!
Oh, wait...
eveeryone knows...sanctions rarely work,,,,,,,they’re killing us
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Rarely work in discouraging armed conflicts. Sanctions start and perpetuate war. The fact is Biden and the war cheerleaders instated “suicide “ sanctions which in fact is decimating the West, especially the US.
The world is waking up to commodity based currencies, the Russian Ruble is sky rocketing. The West has NOTHING but debt backing their currency, the Russians have everything the west needs…oil, food, commodities, grains, water, electricity…….Biden and the war cheerleaders are idiots, complacent in the West’s suicide.
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