From NOT A LOT OF PEOPLE KNOW THAT
By Paul Homewood
That worked well then!!
India is buying up cheap sanctioned Russian oil, refining it, then selling it to the US and EU for huge profits, according to a report in the Wall Street Journal.
The US has reluctantly given India permission to buy Russian oil because India has threatened to ditch their alliance with America and ally with China if the US dares to sanction them.
While Americans and Europeans are being forced to pay record prices for gas as “the cost of standing up for freedom,” the free nation of India is buying oil from Russia for a whopping $35 off a barrel and selling it back to us in a hilarious arbitrage scheme.
https://www.informationliberation.com/?id=63128
As I said many times before and got deleted, shale is useless. It’s condensate. Shale is exported and produces nothing.
This site is of course mentally retarded and doesn’t know you can’t turn condensate into diesel, as it is lower API, but the point is that diesel is the real fuel. The original oil industry only sold kerosene, it threw out everything else, and all else is a scam. Gasoline generators run 2k hours while diesel runs 50k. Cars are run on manual effort and gasoline is a fake fuel. Of course this site, run by entitled regards with no real world experience will disagree, but at least they stopped banning this obvious fact.
If I punch liberals at 30m/s with 100kg, that’s 100kw. Humans apply far more kinetic energy than their 100w wikipedia crap. Cars are the same speed as bicycles because everything, even airplanes run on manual energy. A tiny amount of diesel runs agriculture and creates a pyramid scheme to keep everyone else alive.
No amount of shale production matters, no tar sand matters, that all disappears statistically and produces no products. The entire shale boom produced almost no net increase in fuel production because shale is useless. Tar is negligible but the price of WCS is now collapsing as it is useless.
You’ll die at last, it’s wonderful. Condensate and tar are not oil, they are useless, you are too dumb to understand very basic physics that they are degraded or different molecules and cannot be used for anything.
Joe, to my untrained eye its no wonder you were banned. It may be because you call people names with no backup.
Well, there is no one to criticize anymore because everyone admitted I’m right. Libs are annihilated physically.
Time to get shot of you!
Shale oil has dedicated labs in Estonia.
Can be made into fuel oil no worry at all..
All you can print is just ignorant crap.
Kindly FO will you??
Do you use Let’s Go Brandon’s 9mm guns to blow out their lungs? I suppose my .454 Casull could do the job but is comforting to know my 9mms’ would do the same job. And it would save money on ammo.
I could pull some quotes from that rant, but no real need, everybody can read it for themselves.
“Call people names“?
No, how about psychotic? This guy is a nut case.
OK, one pull quote, I cannot resist.
“you are too dumb to understand very basic physics that they are degraded or different molecules”
He says physics. I am pretty sure the structure and properties of molecules is the province of chemistry. The guy does not know the difference between chemistry and physics and calls everybody else dumb.
NOTE FOR THE CROWD:
WCS apparently stands for Western Canada Select, a crude type and a benchmark price for crude oil.
Yeah, that’s what it stands for and it is anything but collapsing:
https://economicdashboard.alberta.ca/oilprice
I can’t decide if “Joe” is the master of subtle sarcasm or just deranged.
Alex, I’ll take “deranged” for ten bucks.
Joe obviously found another application for petroleum products –
sniffing them 🤪
Joe, to my untrained eye its no wonder you were banned
Isn’t this the guy who was banned from his own blog?
How the hell did he managed that feat?
I understand that this poster does not like shale oil. But after a close read, I still have not got the slightest idea why….
dodgy, I’m still puzzling over that “Cars are the same speed as bicycles because everything, even airplanes run on manual energy.” assertion.
It supposedly makes some point which supports Joe’s overall thesis, but darned if I can figure out what that point is.
Maybe I just need to recalibrate my WTF?!? meter and try again.
I don’t think there is any hope for your ability to understand, you are obviously just one of the entitled regards with no real world experience.
I thought that mechanisms developed to use FFs were intended to replace manual labor. Is history lying to me?
Especially when oil companies HAVE been pulling oil from the shale (oil sands) in Western states for quite some time, now. Yes, it is more expensive, but then LOOK at the prices for gas and diesel today!
When you are a Gibber there is no surprise that gibberish is your first language.
Soooo many “Gibbers” out there. Who knew? Usually found in groups protesting one thing or another.
Alexy, I’m using that term unabashedly in the future. Thanks.
A Gibber and a spitter**.
**Someone who thinks they are the SPITR, but are far, far off that mark.
SPITR?
In the context, I presume that is Smart Person In The Room.
Thanks, Paul. In retrospect that is an apt acronym for the crank posters at WUWT. The most persistent are the “no-GHE” cranks.
Yes,Paul C. It’s the “Smartest Person In The Room” pronounced ‘spitter’. I use ‘spitter’ for someone who is clearly not the SPITR, but obviously believes they are.
I introduced that on another thread. You can spot a spitter by their cluelessness and contempt for the very smart people who actually know what they are talking about.
“Everyone else is a dumb@ur momisugly$$. I’m the only one with the received wisdom.”
When you see something like that, you’ve spotted a spitter.
Also, as I have noticed over the years, the dumbest people always think THEY are the SPITR’s!
“Condensate and tar are not oil, they are useless, you are too dumb to understand very basic physics that they are degraded or different molecules and cannot be used for anything.”
Ok, so can I get some for free then, seeing how they are useless.
Thanks in advance.
So “gasoline is a fake fuel”
Who knew , I run my car, mower, tractor on a fake fuel. At least my excavator uses diesel.
Seriously does anyone know what Joe is on about or what he is on. Or Joe could you repost without all the ranting gibberish.
Don’t worry, Simonsays, it’s all much ado about nothing.
Joe,
The whole forestry industry is founded on that fake fuel you don’t put any value in.
I am sure there is a diesel chain saw somewhere, but I have not come across it yet.
Hoo-wee! A 20hp diesel chainsaw with a 144″ bar would be awesome!
They could call it, “The Herniator.”
(Pre-retirement, I made hydraulic tubes for Deere’s Forestry Division equipment.)
Once upon a time a large 2 cylinder chain saw existed; it was called a Moll. It took two people to operate it: one on the motor and the other on a handle at the end of the bar. It was not diesel.
You’ll die at last, it’s wonderful
Some of us will happily dance on your grave and the grave of every one of your political agendas
I, for one, am glad you stopped by to educate all of us drooling, ignorant rubes, Joe. I had no idea. Thank you.
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(@All – That was a signal y’all can use to calibrate your sarc-meters. It was a perfect 11. Calibrate your meters against that signal according to the manufacturer’s instructions.)
Actually, H.R., it hits about a 5 on my sarc-meter because of its obviousness. For those that don’t think it is obvious, they belong on Twitter.
Okay, Dave. That made me laugh. 👍
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Scroll bar? i have no clue how that just happened.
I believe I found Joe’s Twatter account https://twitter.com/betsybetsy2021/status/1535315910440919041?s=10&t=QotY-x3Y5oiURsOBvkKbJQ
People, this is a Russian disinformation troll who is accomplishing his goal of distracting us with his weird and provocative comments. His statements don’t make sense even in his fevered universe, other than as a means of polarizing conversations.
If it’s exported, it’s been sold and produces dollars.
My best guess is that he thinks gasoline is akin to hydrogen, where the energy produced by the motors isn’t worth the total costs. Between refining, lower efficiency than diesel, and shorter life for the engines, we would be better off just running most things with diesel.
Ted, you need to follow Joe around acting as his interpreter; he uses a language nobody but you can understand. About all I could get from his message is that the black stuff pumped out of shale formations is not usable by refineries to make anything useful.
Yeah, and the people who BUY this oil must be mighty disappointed! Just wait til they find out it doesn’t burn!
I wish posters would focus on content rather than style. I’m more interested in Joe’s evident love of diesel than in his manners. Why has no one asked him to provide evidence of his claims, or even provided references to the contrary?
Certainly the suggestion of some posters that diesel is of minimal importance to our society is risible. Do 18 wheelers run on gasoline? Do railways run on gasoline?
Years ago, when I drove a diesel, I often wondered why the price was generally considerably higher than that of gasoline (except where subsidized, or course), and was told that it was due to Canada being without a single diesel refinery, and having to import all of its diesel from the US. I got no proof of this (it was early days of the WEB) but found it plausible, given that many raw materials produced in Canada are shipped abroad and come back as value added products (durum wheat transformed into spaghetti, for instance).
Just now I searched for diesel refineries in Canada, and found one site that discusses this (as of 2019) rather vaguely, saying there are 17 oil refineries in Canada, 14 of which are “gasoline” refineries. Whether some of the other 3 are diesel refineries or not is not made clear, nor whether some of the “gasoline refineries” also produce some diesel.
https://www.cer-rec.gc.ca/en/data-analysis/energy-commodities/crude-oil-petroleum-products/report/2019-gasoline/index.html
It is just hog wash if EU is allowed to buy Gas from Russia.
https://www.aljazeera.com/economy/2022/5/17/european-energy-giants-set-to-keep-buying-russian-gas
It would be stupid for the EU to let their people freeze in the dark….so on the flip side, Putin is probably saving the shutoff move for later…..
Like winter
It would be more hilarious to let the Euro Trotskyites know that USA is about to insist on adherence to these sanctions. When the winter approaches, yes.
This won’t even require anything fake: the moment any para-governmental windbag drops something to this effect, catch it, promote the hell out of it, then look for the most famous windbags who jumped on the bandwagon and promote the hell out of that. Considering the natural inclination of most Tw%tter users to act like beheaded chicken… by the time damage control kicks in, it will be too late to stop the panic.
It does make one wish we’d taken our governments out of the hands of the BDS nutjobs and Europe had gotten serious about laying a pipeline for Israeli gas, as soon as it became apparent Israel was going to have lots of gas to sell…
That, too. Rational behaviour and crypto-theocracy don’t mix. Or, in the words of Moldbug in “Climategate: history’s message”:
«After data corrections, the text reads: Your entire system of government is incurably insane.»
It follows that any half-baked derivative of an incurably insane system is very likely to be insane as well.
As his tanks flow through the Fulda Gap.
Fortunately the Fulda Gap is about 1500 km in the rear these days. Also Russia has a lot less armor than they used to.
Russia has already scored a big win here.
Russia insisted that the EU pay for it’s natural gas imports in rubles. The EU rolled right over and agreed. This was a huge step forward in their effort to make the ruble an international reserve currency and challenge the total dominance of the US dollar as the international exchange currency.
Seriously you think the Ruble will become the reserve currency. Won’t happen, can’t happen, just another Putin fantasy.
A blogger comments that Russia wants to make the ruble a reserve currency without any evidence or indication from Russia that this is true. You conclude that this is more evidence that Putin is a fantasist.
I conclude that both of you would fit in well at CNN.
More so cos the size of Russia’s economy is no bigger than Italy.
Now shall we make the old LIRA a reserve currency eh?
How’s that for a plan??
https://bullionexchanges.com/blog/russia-pegs-ruble-to-gold-what-does-that-mean-to-the-world-order/
That is as much of a fantasy as the pre 1971 SmithsonIan dollar peg to gold.
(sigh) Petrodollar could exist only as long as it was enforced. See what happened to Saddam, for example. But also note that it was done not only by USN with aircraft carriers (fit only to fight ill-equipped peasants, for decades now), but by the whole “Iron Polygon” (State Department, banks, unofficially official press, etc) in USA, all vassal governments, and a massive Fifth Column scrambling to serve them just about anywhere.
To dethrone Petrodollar it’s necessary and sufficient that this enforcement fails. Now it did.
But to take its throne? This would require a comparable level of enforcement, which right now is impossible for anyone.
Anyway, now that Country X has no good reason for paying invisible tax (deliberate inflation of fiat currency is a tax that cannot be evaded without ditching this currency) to USA, why would they want to pay it to anybody else? As to what replaces Petrodollar — this may be crypto, but far more likely gold.
China, for one, prepared to eventual return of the gold standard for a while, and lately (especially after Taiwan, of course) was more active in this. For example:
https://www.reuters.com/world/china/exclusive-china-opens-its-borders-billions-dollars-gold-imports-sources-2021-04-16/
https://www.theglobeandmail.com/report-on-business/international-business/china-leads-the-goldbugs/article620710/
Interesting take 🤔
No way. The total global stock of gold is far too small to be a viable monetary base for the global economy. That’s why it no longer has that function.
The real stupidity of it lies on side of US and Europe scuttling all the main avenues for payment to Russia and seizing all Russia’s foreign holdings. How else can Russia secure payment but directly in rubles arranged in advance from a Russian bank. They certainly aren’t going to make delivery and trust they will be paid.
Russia pegged the ruble to gold in May and the ruble, which had plummeted hugely with sanctions, shot up again 2.4 times the low to record highs(~30%) above the former usual exchange rate! With the bollix-up of western economies, gold is likely to climb strongly and with it the ruble value. The pegging of gold to the $US now means the dollar is pegged to the ruble !! The sanctions and ruination of Western economies is giving the world a Great Reset but not the one expected by the Totalitatians (see the one comment on the linked article)
https://bullionexchanges.com/blog/russia-pegs-ruble-to-gold-what-does-that-mean-to-the-world-order/
Blank stares do indeed matter. An election stolen by a bankrupt political party is proving to be a world gamechanger in a bad news way for the West. The good news is that the néomarxiste Global Warming plan for Eurocentric Global Governance is dead in the water. I hope the ugly billionaires take a big hit with it. No one will admit this yet.
How does a Western debtor acquire roubles? Answer: by selling dollars or euros to Russian bank that supplies the roubles. So the Russian bank ends up with dollars and euros from the forex transaction, and it gets back the roubles it supplied when payment is made.
This is very little different to using dollars and euros to pay the bill directly. The Russian Bank ends up either dollars and euros when that is done, and it never sees the roubles move out and back again. The main difference is that will collect extra banking fees from the forex transaction.
For the rouble to become a reserve currency it is necessary that other countries should use it to make payments to third countries as a matter of course. For example when South Korea buys coal from Australia. Also that Russia should be able to buy anything it wants in roubles on international markets.
Hey, Tony, Putin can’t supplant Xi’s efforts.
Welcome to clown world, where world leaders have to pretend to care about causes like climate change, russia is evil, equity, etc., but still actually keep the lights on. In the end reality wins, but I don’t think I’m gonna hang around for the ugly closure. I’m leaving.
“World Leaders” is ridiculous Newspeak. Why not use good old terms, like “Vassals” or “Puppet Kings”?
I think you are largely correct, but who are the puppet masters?
Who are the puppet masters? Peer Pressure.
In the jostling around for who is the “leader”, someone will propose some stupid thing as something a “leader” should do, and without question others try to top it while imagining something else that a “leader” should do.
Then there is the spiritual aspect of it…
S0ros comes to mind.
Elon Musk and Donald Trump can both get the media running with their every utterance, so there is that.
who has their hand up joe (and jill) bidens ass?
(if you put it all together, it is the same bunch that has their hand up yours)
People who envy and abhor individual initiative and success; people who perceive their own mediocrity, shortcomings, and laziness as social disadvantage and injustice to be rectified by government mandates. People who’s only achievements are disruptions without creation of something better.
WR2, you are taking “stop the world I want to get off” to a different level.
This is how screwed up it all is.
Pretzels are what American foreign policy makers are deep frying…
The elite foreign clique is running America over the cliff.
This is the greatest diplomatic geo-political disaster in American History.
We wanted India as a friend & ally.
And, now, the WarHawks want to punish India.
Soon We won’t have any friends at all.
Europe is splintering.
The Ukraine Project is a Failure… With a capital “F”.
It was misconceived from the beginning.
Run up to the border, pin your hopes on a Black Market country… Ukraine are Us.
Ya, that’s right… any illegal item, anything you can imagined, can be purchased in Ukraine.
No matter how perverted or dangerous.
Any Biden, or his boot lickers, or corrupt politician ,can secure quick money.
This is Biden’s disaster, Biden’s War — Biden’s Economy.
Think about that…
And realize how screwed we are… and the American People never asked for it or were told about it.
But we can stop it.
All we have to do is realize what’s best for America.
And it ain’t what Davos & the foreign policy elite tell us.
Does Davos look after America’s best interest.
I got a bridge in Brooklyn if you think so.
The war in the Ukraine is a resounding success for the Democrates, its why they goaded Putin into starting it.. Don’t expect it to end anytime soon, they will drip feed just enough armaments to make sure neither side wins so they can run the Russian economy into the ground not to mention making a tidy profit for your mates in the military industrial complex.
This won’t resound to elite Democratic party success.
They thought it would…… or they (globalist Republicans, too) wouldn’t have goaded Russia.
But they did.
It was so unnecessary.
Realistic diplomacy.could have averted this disaster.
But no…. “go pound sound” diplomacy, so “we can catch you in the wrong” is simply BAD policy.
Inviting war is bad policy… and that is what the foreign policy elite did.
Democrats & RINO’s will suffer the consequences.
At the ballot box.
The only place they respect (if that).
except they wont run Russia into the ground anytime soon, when Russia was poor and unstable they still held afghanistan for 20yrs. theyre advanced and NOT in debt anymore.
see -elenskys looking for 160k conscripts…hmm not doing too well ?
Not quite! The Soviet Union fought a war against committed peasant farmers for 10 years (with help from Western weapons – sound familiar?); were defeated and ended up losing their empire – when most of that empire threw off their shackles, became free and democratic, and Russia weren’t strong enough to do anything about it, luckily.
Hopefully history is repeating itself and Putin will be remembered for being involved in the loss of two wars and two empires.
‘Hopefully history is repeating itself..’
Yes, but not in the way you think / hope it is. Substitute ‘US” for ‘Soviet Union’ and ‘Russia’ in your first paragraph and then try to tell anyone it doesn’t ‘sound familiar’.
‘see -elenskys…’
Are you referring to Commander Zero, aka WEF puppet, aka Neo-Con darling…
Russia will be fine. They have resources people need. Not a fan of leadership but overall Russia is fine.
Correct. The only good news in the Ukraine tragedy is that John and Jane Q Public are beginning to realize that the Biden administration’s foreign policies are even worse than their domestic policies.
And Russia is buying all the computer chips and Boeing/Airbus parts it needs through India.
The sanctions are only hurting us.
That’s bollox!
Why do you think Aeroflot just went for an emergency loan to enable it to buy Russian aircraft which Russia can’t actually even deliver, with even SS100 stuck for foreign sourced bits.
Even Putin is running 20 yr old windows XP in his office.
They ran out of missiles and now their guns have worn out.
India? What a laugh!
Have you ever tried dealing with them?
Here today, gone tomorrow, the definition of “fly by night”.
pigs_in_space: “Even Putin is running 20 yr old windows XP in his office.”
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Not to start a “2 minutes of hate” on Microsoft in this thread, but I wish I was still running Windows XP.
Why not, XP is better then 7, 8 or 10.
Windows 11 isn’t too bad so far, but underneath the updated interfaces lurks the same vulnerable operating system we’ve all come to know and love over the years. In truth, it works because ever more powerful and cheaper processors and memory have overcome the O/S’ drawbacks.
And XP on modern hardware is staggeringly quick.
Microsoft went back to some of the XP OS after the debacle and complete mess that was Vista and 7. Thats why 10 is better.
But the networking is still a joke. And the stupid UI changes, that achieved nothing are just pointless.
Windows was turned up to 11.
Because that’s one more than 10.
Windows Lemmy.
I know you want it to be bollox, but think about it.
“Aeroflot, controlled by the Russian state,” why would the state wish to raise 3 bn from its own people?
“The airline also plans to order 300 aircraft from United Aircraft Corporation, which is majority owned by Rostec, Russia’s state aerospace”
So the state is raising money to buy products from the state.
Really?
This is just Putin desperately trying to raise money by any means.
If Russia wants parts, they will buy from India just as easily as they sell their oil to India.
What could the US possibly have to complain about. Isn’t this normal business? Buy solar panels, wind equipment, computers, cell phones, 10,000 other things from places that don’t care about US tender feeling on baby fish, dirty air, dirty water, forced labor, etc. etc. etc. as long as its people can pretend they have no responsibility for all that stuff.
Our politicians like to think they have power over the rest of the world. So they get rather butt hurt when the world tells them, “Piss Off.”
Russia’s Government book-balancing selling point is $42 per barrel, so they are not exactly in the poor house either. The political cynicism being exhibited is really mindblowing. Sanction Russian oil sent directly, but “launder” it via Indian refineries at their middleman markups plus tankerage instead of pipelines and the ordinary people get hammered to make the politicians look good. But…but….but we can build lots of wind turbines and solar panels to obviate that problem.
Where two dogs fight over a bone a third will run away with it. Old Dutch proverb.
That’s a very good proverb which I’ll try to remember
The US has reluctantly given India permission to buy Russian oil
Did I miss the news of the US invasion of India, making it an empire colony of America?
US “permission” to India?!
Who the freak do these people think they are?!
India is doing an excellent business. Russian oil is no more toxic than Saudi oil. The purpose of the embargo is to deprive Russia of money to fight an undeclared war in Ukraine, not to curse Russian oil. BTW, Russian media are not allowed to publish how many days the “special military operation” lasts so far.
One question, who, anywhere, is trying to broker a peace in this war? The answer is no one. Our brilliant administration is talking about destroying Russia’s military and degrading them politically, but no one seems to give a shit about stopping the war. The Russians are scum, Putin is a fruit cake but nothing good is coming out of this war continuing and the risk of Putin losing and then going Nuclear is real. He’s lost and he knows he’s lost, he needs to be given an out so this can stop. People are dying for nothing more than our admiration’s lack of vision and belief in fairy tail realities.
Noam Chomsky is right – the USA are going to fight Russia down to the last Ukrainian.
You talk monster bollox.
“Our brilliant administration is talking about destroying Russia’s military and degrading them politically, ……… ”
No need, they that themselves, with people flogging the spare parts and the fuel out of tanks to fund their dacha…
Lots of Russians are refusing to fight, fragging their own officers, or the generals getting killed up front
“the risk of Putin losing and then going Nuclear is real.”
NAH!
Rubbish
Using nukes, on a battlefield has every chance of nuking your own army, and wiping out your own comms
Been tried and tested
“He’s lost and he knows he’s lost, he needs to be given an out so this can stop. ”
NO WAY, let Ukraine beat the daylights out of ’em and be done with it.
Their latest “offensive” is dead in the water already, Severodonetsk shows even with the “russki concentrated veliky mighty army” they can’t do F-all, not even cross a river.
Truth is the first casualty of war. One can’t really believe either side, so don’t be Baghdad Bob.
There is the possibility of Putin using nukes if he thinks he is lost, not on the battle field but in a suicide attempt for himself and his country. He’s old and he is dying, Hitler burnt his country to the ground because thought his people failed him, Putin is not much different. It is not likely at all but it is a possibility and it needs to be taken seriously and be put in the calculus of the situation.
The Ukrainians have done a splendid job of holding off the Russians and pushing them back in places, but the Russians have changed tactics and are now using artillery saturation and carpet bombing to achieve their goals, these tactics are relatively cheap and the Russians can sustain them for a long time. It also means they don’t really have to put their troops in harms way as much and the Ukraine’s are starting to pay a heavier price to engage them. These tactics aren’t going to win any big gains for the Russians but they also aren’t going to lose much ground either. So the question now is how many more people are going to die and are the Ukrainians going to gain anything from their deaths? We aren’t going to destroy the Russian military and they have already proved to the world that they aren’t really a threat anyway, so what’s the point of not trying to get this over with? Putin has lost, he knows it, he just needs some type of out to save face, otherwise this drags on and on and a lot of people die.
‘Hitler burnt his country to the ground because thought his people failed him, Putin is not much different.’
You know this how?
Reply to bob boder
yes I never saw such a pile of gobbledeegook as that.
German women were just desperate to hide from being raped by red army nutters.
The men were mostly all dead, so in the end all was left were Hitler youth freaks to defend Berlin with no bullets left.
did you ever read any books or live in Europe?
https://www.nationalww2museum.org/war/articles/sealing-third-reichs-downfall-adolf-hitlers-nero-decree
Russia made many overtures and -elenskys refusing to parley
it wouldnt have STARTED if he wasnt a willing pawn of the bidet family, stayed with the Minsk no Nato deal and stopped shelling Donbass for years killing 14k of “his own” as he now claims the area
not anymore matey;-)
Good capitalist practice, buy cheep then sell at profit.
So that’s what Modi was up to in the run up to ‘Ukraine’ – seemingly siding with both China and Vladimir.
haha epic
And where was Boris – asleep on the <expletive> sofa, dreaming of electric cars
jeez
rather funny, same as the swiss are doing the arbitrage and companies like glencore blackrock and some other big names are also doing the same
like the happy/sad masks the banksters n bizmen have the social virtue signal face but the true one is not the green social one but the green MONEY do any deal one.
but then ussa leads the pack in that, blames russia for withholding grain and starving people after bidet n co have been stealing private property and sanctioning everything they “didnt need”, thought…they could get elsewhere
oopsie
Oil is fungible. That fact is why the seller’s embargo by Arab OPEC collapsed in the 1970’s. Those who are ignorant of basic economics and history are doomed to fail similarly. The only way to really harm Russia’s ability to profit from oil sales is to stop the actual production of oil. But that would take a real war between the west and Russia, something that has a price that is far too high.
The embargo collapsed along with the oil price because the non OPEC countries developed alternative supplies of oil and gas. OPEC suffered a catastrophic loss of market share and revenues. There were blackouts and water shortages in Saudi because production fell so low there wasn’t enough gas to fuel power stations and desalination plants. Thet led to mutual undercutting of prices within OPEC, and its power was broken.
This is what you get when Prez Dullard is instructed by his handlers to cripple US oil and gas production (force the Deplorables into electric vehicles), and favors foreign producers. Have to give credit to India for figuring out how to profit from Democrat America hatred.
India also buys sanctioned Iranian oil. I guess they learned sanction trades from the French and Total Oil.
Neither India nor France is under any obligation to support our interventionist foreign policies.
One oil market. Approach it wisely or foolishly
I put this down under the category of “not all lemmings will jump over the cliff; some will sell tickets to the rest waiting in line.”
Oil in a shale reservoir is the same oil found in conventional reservoirs — the only difference is where it was deposited.
Since oil is fungible, this is precisely the kind of result you get when you prohibit something. A black market is created. The oil boycott of Russia was a most blunt instrument for purpose.
How could such a rigged scheme come about under the watchful eye of Sleepy Joe Bidin’ his time?
Good for India. This is free enterprise.
Many people get rich during embargos. I was in Bermuda and saw a multi million dollar huge sailboat. The guy beside me said that is owned by so and so that made millions selling oil to South Africa during economic embargo on them during apartheid.
Supply and demand. Capitalism lives!
Good for India, take advantage of our gross stupidity, we fully deserve it.
Those naughty Indians seeing a business opportunity and turning it to their advantage.
How Dare They!
This free enterprise thing is only for the ones we like and not just anybody you know.
Go India Go
As for saying they’ll work with China the friend of Brandon’s family perfect.
James Bull