RE:RussiaThe biggest problem for oil coming up is going to be a world wide effort to lower prices to choke Russia...and if enough governments work together...anything is possible.
The real irony will be the countries that claim production issues will all of a sudden get greedy and rip oil.
Between buying oil from Russia, Iran and Venzulea....China is going to get oil at such a discount to WTI and Brent prices.
I wonder how OPEC and middle east will feel if China ramps up oil imports from Russia from 2m per day to 3.5m......
China has "played" everybody....
Look at the end result...they have will have massive demand on Ev batteries which China benefits while their petro chemical industry likely will have cheap oil for awhile.
The world is realizing not just climate reasons to get away from oil...it blood behind it.
Is anyone else concerned?
WTI is 96 bucks and one of the largest oil producers is at war...
kavern23 wrote: Russia isnt a wild economic power before this...
Texas has similar size economy to Russia and Califronia is way larger then Russia.
And right now...Russia economy is being further pulverized.....
When the dust settles...Russia has to become a flat out oil producer...they dont and wont be able to export much else.
Lots of pensions to pay in Russiia to keep from civil unrest....