It just comes via India.
https://www.business-standard.com/economy/news/russian-oil-finds-way-to-europe-india-now-biggest-exporter-of-fuel-to-eu-124111000177_1.html
Russian oil finds way to Europe; India now biggest exporter of fuel to EU
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TIG now threatens higher tariffs on India:
In a post on Truth Social, the US president warned he would raise levies, saying India “don’t care how many people in Ukraine are being killed by the Russian War Machine”. … In a statement, a spokesperson for India’s foreign ministry, Randhir Jaiswal, said the US had encouraged India to import Russian gas at the start of the conflict, “for strengthening global energy markets stability”.
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Of course. If he can get everyone to refuse to buy Russian oil, that takes a lot of supply off the market. That will push prices up, to the profit of his buddy, MBS, and USian big oil.
Steve
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Steve, it seems you’re not a fan of embargoes on Russia. Is that something new?
DB2
I was not a fan of Saddam Hussein, but Rant #1 held the made up war was created, by a US regime with close ties to the oil industry, to take Iraqi production offline, to tighten supplies, to raise prices, for the profit of western oil companies. The current regime is doing so much to enrich the US oil companies, that it would be unlikely that this one move, which would take oil off the market, is purely for humanitarian reasons.
Steve
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He was pro Russian
Now he is also arguing with zelenski.
He’s not sure if he’ll run again
This is where his inexperience as a negotiator is really showing. He really doesn’t know how to cut deals.
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He’s great at bullying. He’s now threatening the EU, if they don’t come across with that $600B bribe.
Steve
I thought that one was hilarious. The EU commission has no authority or ability to direct private investment like that. Oh, and the EU was supposed to buy about 6X increase of LNG exports from the US. Our LNG terminals (and theirs) are close to maxed out. Who is going to build the terminals? Is that something we have to take care of for terminals on our soil? TIG didn’t think about that one. Did the EU provide any funding or incentives to make this happen? Of course not. Why would they?
So the EU “promises” something that can’t it deliver and in fact is actually impossible to deliver and gets a 15% tariff down from the threatened 30% and made no concessions. In the meantime, our closest trading partner, Canada gets a 35% tariff. You can almost heart the champagne corks popping in Brussels from here.
Best part is Trump has fallen for this before. Back in TIG’s first term China promised to buy a whole bunch of stuff from us and never did. The EU negotiators just looked at what worked in the past and did the same thing.
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Bob, I have questions about the use of embargoes and its effectiveness. But if you’re going to impose them, shouldn’t you be the first to follow them yourself?
How is it acceptable for the US, EU, and even China to continue purchasing goods—oil, natural gas, NGLs—yet it’s only a problem when India does the same? Why China tariffs are paused but India gets Punitive rates?
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Apparently, Prime Minister Modi is making that same point: the US buys Palladium, among other things, from Russia, to no avail. Apparently, his nibs has given Modi 24 hours to bend the knee.
Steve
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Apparently, the Emperor didn’t like being pointed “You are naked!” So he decided to teach India a lesson by slapping 50% tariff. US is the true definition of banana republic.
Indeed.
And the clock is ticking on the EU, if they don’t pay the $600B bribe.
Steve
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If you look at oil prices, they appear to remain in a relatively narrow range for 50 years now. Sure there are brief spikes up or down, but it seems to be trading in that range (call it roughly $40-80 per bbl) for all that time (other than a few brief spikes). It’s really quite amazing!
And natural gas prices are even more astounding, pretty much flat over 50 years, even trending slightly downward over the period.
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As offered before, “JCs” are only concerned with how to put the most loot in their pocket over the short term. They’ll take a brief spike, especially a planned, manipulated, spike, any time.
I remember some talking heads on bubblevision crowing about how US oil companies were going to go into Iraq, after the invasion, develop the daylights out of Iraqi reserves, flood the market with oil, and drive the price down to $10bbl.
As we know, the US, headed by a regime with close ties to the oil industry, invaded Iraq in March 2003. As we also know, the price of oil went from the $20s, to over $100, accompanied by media hysteria about “peak oil”, when the price move was the completely predictable result of taking Iraqi production off line.
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