Oil prices are not elevated. They are in a prewar range. Oil (petroleum) is the main Russian export, by far.
Natural Gas prices are not global, as piped gas is a local resource. The best global price is for LNG, production and sales of which spiked due to the restrictions of Russian deliveries (in various ways).
This is also back at prewar levels, again after spiking in 2022.
Note that Russian gas sales to China are not a substitute market vs sales to Europe, as the source of the gas in each case (Europe and China) is different, widely separated gas basins.
Hi,
Thanks for taking the time to post all of that material.
Oil prices almost doubled before any invasion thanks to the anti fossil fuel Dem agenda. He cannot afford to invade with oil at $35-$40/bbl.
His economy is the ruble and fossil fuel prices.
I did the math a while ago and I forget the exact number but I think it was the US alone was paying Russia $88million/day more under Biden than Trump for fuel before the invasion. (for stuff that we have under our own two feet)
That times the world is responsible for the invasion.
This is not new. Dems take over, war on oil, enriching the globe’s malcontents, often resulting in violence, war and death.