Oil prices and thus petrol prices are going to go sky heigh. The conservatives will blame ukraine tottally forgetting that while ukraine was receiving US funding they avoided blowing up russian oil refineries. The US stopped funding ukraine, ukraine got desperate and has now started hurting russia in the bottom line. This was all predicted long ago but nobody listened cos they would rather bitch about ukrainian funding than actually think through what happens if u stop.
this post was submitted on 27 Feb 2024
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This is good for them, they will blame Biden, as he obviously has full control on gas prices. All part of putins plan to get trump reelected.
This is a huge deal for India. They are the world's second largest exporter of refined oil, and the largest in asia. This means a lot of buisness is about to shift to them. This is also after India has been negotiating cheap raw oil off Russia due to a combination of sanctions and the occasional case of exploding refineries leading to excess raw oil in Russia
I am sure it will but India isn't even in the top 10 of country's pumping the most.
It isn't just about the pumping. You can pump crude all day and still be broke. Look at several of the middle east smaller countries or even most south America pumpers. The refining is where the industry and money is really at. Cars don't burn crude oil, it has to get refined. Plastics don't come out of the ground, they have to get refined. Saudi Arabia is the world's largest crude oil exporter and they still have to rely on others to refine.
In fact, here is a direct quote from OEC-
"In 2021, Saudi Arabia imported $7.43B in Refined Petroleum, becoming the 27th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most imported product in Saudi Arabia. Saudi Arabia imports Refined Petroleum primarily from: India ($2.17B), Greece ($1.09B), Russia ($892M), United Arab Emirates ($835M), and Egypt ($689M)."
Russia is one of the largest exporter of gasoline. I suppose the plan is to secure the availability for themselves while increasing gasoline prices in the rest of the world, but they'll foremost be a nuisance to their closest trading partners.
My country is not one. I also don't buy gasoline, so I really don't give a shit. For all I care, gasoline prices should increase, because the world as a whole has bigger issues with not buying fossil fuels than it has with economy or Russian domestic bullshit from a dying gangster billionaire.
You don't understand even the most basic principles of economics.
I also don't buy gasoline, so I really don't give a shit. For all I care, gasoline prices should increase, because the world as a whole has bigger issues with not buying fossil fuels than it has with economy or Russian domestic bullshit from a dying gangster billionaire.
This may be the dumbest thing I'll read this month. I would try to explain why, but that would be an entirely pointless and exhaustive exercise. The short of it is that you do buy gasoline every fucking day and you love it.
I'd love to not buy gasoline! Someone buy me an electric car.
I suppose the plan is to secure the availability for themselves while increasing gasoline prices in the rest of the world, but they’ll foremost be a nuisance to their closest trading partners.
From the article:
"The temporary export ban does not apply to the agreed volumes of supplies to the Eurasian Economic Union countries, Mongolia, Uzbekistan, Abkhazia and South Ossetia, RBC said."
So it looks like those are exempt.
I also don’t buy gasoline, so I really don’t give a shit. For all I care, gasoline prices should increase,
You may not buy gasoline, but you buy products and consume services fueled by lots of gasoline. However, I agree with you that we should be recognizing the total cost of gasoline, which includes its climate effects in its price to incentivize reducing its usage.
Try to remember that everything you have in your life or purchase for daily use is conveniently close to your non-car lifestyle because of hydrocarbon powered transportation networks, which doesn't just eat the cost as a gesture of goodwill, the price of transportation is included in what you purchase.
Russia is one of the largest exporter of gasoline.
At the risk of linking an un-cited web page, they look to be a distant 12th in gasoline.
https://www.indexmundi.com/energy/?product=gasoline&graph=exports&display=rank
The source is supposedly https://www.eia.gov/ but I can't find the original data there in any usable format.
Russia comes in a distant second for general refined petroleum (not just gasoline) according to https://www.cia.gov/the-world-factbook/field/refined-petroleum-products-exports/country-comparison/
I agree with you in sentiment about the need to divest from fossil fuels, but cannot agree with your "it doesn't affect me, personally, so let prices skyrocket" position.
Especially since gasoline price increases affect everyone except for nomadic tribes. Everything you buy is more than likely transported via fossil fuel based vehicles. That fuel price is added into the cost at some point. Higher gas prices means higher prices for everything.
It also gives an excuse for executives to raise prices more than the cost of fuel to pad their margins.
Attempts to influence Western elections, or a need to ration gas at the homefront? Perhaps a little of both.
“You can’t fire me, I quit!”
-Russia
No no no! This is just av another example of the Russian economy booming!
booming
I see what you did there.