Posted on 12/27/2022 4:45:27 PM PST by entropy12
Dec. 27 (UPI) -- In response to Western price caps on Russian oil, President Vladimir Putin on Tuesday banned the export of oil to the United States and other Group of Seven and European Union nations.
The ban, which applies to all Russian oil and petroleum products, will go into effect Feb. 1 and be enforced until July 1. According to the Kremlin, oil exports to the affected Western nations can still occur, but only if Putin grants it in a special order.
This month, Western nations imposed a price cap on Russian oil that prevents the price from rising above $60 a barrel. The move was designed to punish Russia for its war in Ukraine, and any nation that sells above the price cap can lose access to insurance and financial services that are essential for oil shipments in international waters.
(Excerpt) Read more at msn.com ...
Yeah, but today the global price of oil per barrel said “meh”.
We get to pay for both sides of Russia’s war with Ukraine. Yeah. /sarc
LOL
who is putin going to sell to? China and India get a discounted price...
Putin can do that but the U.S. is the largest producer of oil on the planet and producing >12,000,000 barrels of oil per day. With that, WTI is at $80.00 a barrel, down $45.00 from its 2022 high The U.S. will do alright and Russia’s revenue from oil will decrease.
And the west doesnt?
I thought Russian oil imports were banned in the US, when did they become unbanned?
If the idiot democrats allowed fracking we wouldn’t have to worry about the idiot Russians! If the idiot democrats would stop shutting down pipeline projects we wouldn’t have to worry about the idiot Russians!
“LOL. who is putin going to sell to?”
By my estimate, about 160 countries - pretty much every country in the world except those that answer to the Globalists/Neocons.
The natural gas price in Europe is the same as it was exactly one year ago. Before Russians invaded. You can see this in the charts for the prices at the Dutch gas hub called TFF
https://www.barchart.com/futures/quotes/TG*1
See me post number ten. Natural gas prices in Europe are the same as Dec 27 2021
https://www.barchart.com/futures/quotes/TG*1
“See me post number ten. Natural gas prices in Europe are the same as Dec 27 2021”
True, not sure how it will apply here though.
sanctions dooon’t wooooork.
Drill Canada! Drill the USA! Drill Mexico! Most of our oil comes from Canada and Mexico, despite what Brandon wants you to believe. The North American Continent is HUGE and FULL of crude. Full of it!
Drill, Baby! Drill!
But don’t forget 10% for the Big Guy! *SPIT*
Gawd, how I miss President in Exile Trump!!
Gas and oil are all the energy that Europe craves and needs. Low natural gas prices are a boon to German industry, particularly their chemical industry. Looks like LNG is successfully replacing Putin’s pipelined gas.
Though some Russian gas is coming into Europe via a pipeline that runs through Ukraine.
________
After Nord Stream, Ukraine is the second-largest route for Russian gas to the EU, accounting for about 24% of total transit volume last year — roughly 37 billion cubic meters of gas in all. For its part, the TurkStream pipeline can deliver about 31.5 billion cubic meters of Russian gas each year to Europe via southern pipeline connections.
To Get Its Gas to Europe,Russia Still Relies on Ukrainian Pipelines
” Looks like LNG is successfully replacing Putin’s pipelined gas.
I don’t know, at the oil equivalent of about $150/barrel, LNG is still quite expensive, even though I agree it’s far cheaper than what Europe paid over the summer, for sure!
“who is putin going to sell to? China and India get a discounted price..”.
And India sells the Russian oil to Europe at a huge profit.
Stupid Europeans/NATO are taking it in the azz on this one.
How much was the oil equivalent price of Russian gas 15 months ago?
India denies that
“How much was the oil equivalent price of Russian gas 15 months ago?”
Before we took out the pipeline, I think it was about $50/barrel. Remember, it was a long-term contract, and pipeline gas is always far cheaper than LNG.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.