Whitecap Resources Inc T.WCP

The effects of the $60 cap on the Russian oil

[WINDGOD46]

This is an excerpt from the Associated Press:
 There is a big risk to the global oil market of losing large amounts of crude from the world’s No. 2 producer. It could drive up gasoline prices for drivers worldwide, which has stirred political turmoil for U.S. President Joe Biden and leaders in other nations. Europe is already mired in an energy crisis, with governments facing protests over the soaring cost of living, while developing nations are even more vulnerable to shifts in energy costs.

But the West has faced increasing pressure to target one of Russia’s main moneymakers — oil — to slash the funds flowing into Putin’s war chest and hurt Russia’s economy as the war in Ukraine drags into a ninth month. The costs of oil and natural gas spiked after demand rebounded from the pandemic and then the invasion of Ukraine unsettled energy markets, feeding Russia’s coffers.

[Citizen13]

It is a great goal to try to defund these guys. However , in my many decades of life here we have rarely seen these " sanctions"  work .These guys are like cockroaches . You step on them, spray them with toxic chemicals and they always seem to survive and live on.  Look at North Korea. Word is out Russia has bulit a large fleet of ships that will sail the seas stealthily . The

[jleer42]

The problem is they want what they are selling, but don't want to pay for it. That doesn't work in real life.