RE:RE:RE:Unreliable SourcesNot sure if Russia is losing that much. According to oil price.com, Russia has been
selling NG to China in larger than normal volumes despite a severe lockdown. So
what are the Chinese doing with all that surplus gas? They are selling it quietly to
Europe of course and booking tremendous profits.
Russia has replaced Europe with China and China sells to others in a sneaky back
door arrangement. This is political and economic gamesmanship being conducted
against the Western powers who cannot control every response caused by the
sanctions. Its a gigantic chess game between these opposing forces with the average person caught in between.
How this all shakes out is beyond my ability but I would think its going to mean higher oil & gas prices for a long while yet. Raising int rates in the middle of an ecomomic
and political conflict like this seems to me to be counter productive and a misuse and
misinterpretation of the siituation. It is not going to bring down prices given the larger
backdrop and especially going into winter.