Sanctions on Russia
in War in Ukraine ·
brightheron64 said:Everyone who desperately needs cheap oil will find a way. Everything else is just political theater and media sensationalism...
Don't you see that there are countries out there where the primary energy source might as well be cow farts?A number of nations have no proven reserves at all. No matter how advanced they are technologically, there is no oil to drill. This means that 100% of their oil needs has to be imported. With oil above $100 a barrel, this is not an enviable position.
https://247wallst.com/special-report...-have-any-oil/
So now... what happens?
Are we really going to wreck our own economy just because of a war in Ukraine—a place some people can't even locate on a map? I mean, look, even Canada is digging its heels in... so what on earth do you expect from some minor player on the other side of the world?
Is the US Navy going to set up a "quarantine" and start intercepting Russian tankers? If that were the case, why haven't the Iranians and their entire oil industry collapsed, despite being under sanctions for decades? Sure, Russian sales might take a hit for a little while, but for how long? Take Pakistan, a US ally, for instance; they're saying Russian oil is saving them about $6 billion a year, which is roughly the same amount the IMF deals with in annual credit lines...
Then you have Biden heading over to KSA to beg for an extra 2 million barrels—he practically played nice with the Crown Prince and looked the other way on everything, including those chemical incidents involving American citizens—only for OPEC+ to end up agreeing to a 2 million barrel production cut anyway.
You can chant your mantras about politics, justice, and altruism all you want... and hey, kudos to your optimism, but at the end of the day, money is money...
Belgium has 10 million people.
Nigeria has 200 million.
Their economies are basically the same size.
And looking at South America, their richest country is still poorer than us.
Things don't move much without the West...