Posted on 09/07/2022 7:06:56 PM PDT by BeauBo
Europe is currently importing over one million barrels per day of Russian oil, attempting to fill up before the EU-wide embargo on Russian crude imports comes into effect (5 December).
Oil prices have fallen as demand concerns grow and China struggles with Covid lockdowns, and Europe is attempting to take advantage of those lower prices to stock up on oil. Alternative sources of crude oil are abundant for Europe
(Excerpt) Read more at oilprice.com ...
From a high of 346 Euros on the 26th of August, Dutch TTF prices are down to 207 already (7 September).
Oil prices might be subject to other supply and demand factors (like the end of American releases from the Strategic petroleum Reserve later this year, a million barrels per day) when Europe's import ban and Price Cap Scheme go into effect, but the wartime price surge already seems well past peak, for both oil and natural gas.
Europe will still buy Russian oil, but it will be transshipped (and marked up in price) through a Russian-friendly country.
Can’t blame them for buying it now since its gonna suck when they try running Saudi oil through their refineries and other processing centers!
Why do they want oil anyway? I thought they hated oil.
I thought their solar and wind power and hydro were filling the gap for heating, electric and cooking?
*SMIRK*
I thought Russia said they wouldn’t sell it to them.
Russia sells it to China, China marks it up and sells to UAE, UAE marks it up and sells it to Europe.
The sanctions are hurting the West also.
And they are hurting the Russians far less than we pretend they do in our always factual and not propagandistic MSM.
https://www.bloomberg.com/news/articles/2022-08-05/the-us-led-drive-to-isolate-russia-and-china-is-falling-short (look at the map of nations refusing to sanction).
And that does not include backdoors like Belarus or nations that sanction but have a laundry list of exclusions...
Bottom line, the Russians have something which others need, not want, need: oil, gas, wheat, fertilizer, titanium, platinum.
We’re not talking about empty shelves where kids can’t get an Xbox Rather folks with pitchforks and torches that are hungry willing to storm your capital as in Sri Lanka: https://www.rfi.fr/en/international/20220709-sri-lanka-leader-flees-amid-protests-over-food-fuel-shortages-as-government-admits-bankruptcy
All these sanctions really mean is that others like China (who we will NOT pressure to hard on this topic because of their importance to us), will get very favorable deals with the Russians. India is doing that right now as well: https://asia.nikkei.com/Spotlight/Comment/India-attempts-to-diversify-energy-sources-with-cheap-Russian-oil
But in the meantime we can always fantasize about Russian casualties, an imploding Ruble, Ukrainian counter offensives, bla bla bla. Russia isn’t Iraq. They have the size and sit in top of resources others cannot do without, so our sanctions will be limited in their effectiveness.
Why is China making such a big deal with Omicron? Are they cowards, or is Omicron selective against Chinese?
I think she’s a bit young for Billy.🤔
Dutch TTF has bounced back up to 268 Euros, on news of the Russian shut-off, I imagine.
I would guess the Brit’s announcement about fracking has not “hit” yet? Granted that’s a little further in the future.
Chinese have low vitamin D levels.
The Chinese’ attitude toward respiratory diseases in general is much different than ours. Maybe a lot more of their parents die of pneumonia in the company of their kids? From experience I can tell you: Watching a parent struggle with a critical case of pneumonia is a very wrenching experience.
Also, China is run by true control freaks, and is in general spiraling downhill into ever more extreme authoritarianism. So, their COVID response is just sort of a symptom of that. I would add that this slide “in general” is NOT likely to lead to continued economic success. Those betting on China as an ally or partner may be severely disappointed...
“Russia sells it to China, China marks it up and sells to UAE, UAE marks it up and sells it to Europe.”
Perhaps, but that’s not what this article says:
“Three months from now, an EU-wide embargo on Russian crude oil imports will kick in, shutting off almost all shipments of the commodity from Russia to Europe. But right now, Europe is importing over 1 million barrels of Russian crude daily and has been doing so for the last month. Someone is stocking up before the taps turn dry.”
“Why is China making such a big deal with Omicron? Are they cowards, or is Omicron selective against Chinese?”
Control.
For example, people who had they’re money stolen from their banks had their Covid app turn their code red - meaning they must stay home.
Could not demonstrate.
“Why is China making such a big deal with Omicron?”
“China is run by true control freaks, and is in general spiraling downhill into ever more extreme authoritarianism”
That is my impression also. They can’t seem to walk it back, and admit they were wrong. No one dare tell the Emperor that he has no clothes. So they March on with extreme lockdowns like we have not seen in the West.
Bottom line, the Russians have something which others need - but can get from other sources instead.
There is no need to subsidize mass murderers. They must be defeated.
“Dutch TTF has bounced back up to 268 Euros”
I’m not seeing that
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