In a free market, the oil supply goes to the highest bidder. So Europe will get its oil supply, but at what cost?
Saudi's are not picking up the phone to increase output and lower prices. Saudis are willing to re-direct oil to Europe if it pays a higher price, but at what cost is Europe willing to pay?
Which means HELLO RUSSIA or they're F...
For natural gas, yes, Hello Russia or they are fucked.
The total world consumption of oil and gas won't change suddenly. If the EU reduce import from Russia, Russia will find the market shares vacated by EU. The EU sanction on Russian Oil and Gas business is a short-term pain for both sides. The long-term effect is trade and economical disengagement of the two sides. So long as Russia has the oil and gas, rubel will maintain its strength, just think of oil as the black gold. The bottom line is that paper money should be issued to represent the physical product (oil in this case), there is need for the product, the paper printed accordingly will be valuable accordingly.
With the way that Europe is conducting themselves, no nation is going to willingly aid the Europe with cheap gas and oil unless they can get something out of it and no Euros and US dollars isn’t really sustainable in the long term, especially when they showed how they can and will confiscate another nations foreign reserves because they don’t like someone. China nor any south East Asian nation has never crossed that line so really Europe is in a bind of their own making and they will eventually collapse down to the level of third world country with a huge degree of certainty. Let’s see how Europe’s ends up in a few months time and whether Ursula Von delyan can finally such up about her values, especially when she will be know as the woman that destroyed the Europe industry for good
During the Obama era, some 911 victim families tried to sue Saudi Arabia for compensation. Obama was smart enough not to allow that to happen. Now Blinken is threatening to confiscate assets of Bank of Russia for Ukraine. Many western countries have confiscated assets of Russian individuals on the pretence of them assisting Russia's war on Ukraine. How would the alternative suppliers (Saudi Arabia and other non "democratic") feel to give their oil in return for waste papers in EU and US banks or treasure bond accounts? They would also think of diversifying their market in light of the treatment of Russia by the west.
Have read a few comments and I don't think it's worth my time to watch.
That's also the thinking behind Starlink. The primary purpose is to undermine the control that countries like China, Russia, Cuba, Iran, NKorea have over their internet.
