Posted on 02/08/2023 6:37:56 AM PST by canuck_conservative
Europe’s ban on Russia’s diesel arrived painlessly on Sunday.
Although the EU cut off its biggest supplier, diesel futures prices in the bloc fell 1.6% on Monday, amounting to a 20% loss over the past two weeks as demand in the region has waned...
The diesel ban comes two months after the bloc placed an embargo on seaborne crude oil imports from Russia, as part of a package of sanctions against Moscow for its invasion of Ukraine. Russia accounted for 29% of the region’s total diesel imports last year, data from Rystad Energy shows....
The bloc is already importing significantly higher volumes of diesel from the United States, the Middle East and parts of Asia, according to Williams at Wood Mackenzie....
(Excerpt) Read more at msn.com ...
#UkraineFirst
After the German distributor takes title, the Russian owner overnights the diesel directly from Russia to Germany by trucks which have Amazon Prime signage newly affixed to their tanks.
FWLIW a trucker friend here in the Southeast reports that the price of diesel fuel is bouncing around 20-30 cents day to day. I’d love to know the why on that.
Because the regime in DC is sending OUR diesel over there and leaving us with high prices and low quantities....
FBJ and ever single one of those POSs in DC....
Maybe Germany’s diesel powered wind-turbines are producing diesel ,LOL
Diesel prices are about $2 higher than when Biden took office. They still about a dollar higher than they were before the failed, idiotic sanction war with Russia.
Go freep Justin Trudeau and stop trying to get American First conservatives to go along with failed policies of the Biden regime.
Sure. Kill the economy and motors don’t need to hum. But, the oil company’s logic will reverse in low demand times.
“There’s no demand, so it costs more to deliver.”
And that will be the logic for raising prices.
It is not just diesel prices in Europe that have fallen. While the pro-Russians can’t seem to figure this out, that’s exactly what the new sanctions are designed to do: Force oil and refined oil products prices lower by manipulating the transport aspect of the Russian-supplies. Most everyone* benefits except Russia.
*Including countries like China.
In other good news:
It should be noted that the generally longer transport to many markets will probably hold up oil and refined products a bit more than the Euro’s would like, and the Earthquake in Turkey is already having effects. What’s really needed to put downward pressure on global markets is fiercely increased US production. But, THAT (lack of) is a major Biden blunder.
You are mis-identifying the problem.
While I don’t like Biden, in this case the Biden Admin. is “simply” NOT blocking US fuel sales to Europe. The market then does it’s thing, in a situation with global production and transport shortages.
You are in favor of MORE gov’t. intervention?
What IS true is that the Biden Admin. is slowing growth of oil and refined oil products PRODUCTION in the USA (and to some extent North America in total). What we should be doing is producing like crazy to drive down global prices and make big $$ off exports.
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