Who will Replace Russian Gas Supplies to Europe?

[be.open]

Its possible for the world to run with water, there were already cars using waters which hydrogen is extracted from water to do the combustion. Its going to work. The problem with this situation is that the businessmen who runs the show. Them who runs the economy of the world, how are they going to make money out of water when its readily available for all.

This sort of argument has been going on for many decades now. Trust me, if there was a suitable replacement for crude oil, then it could have easily replaced crude oil and gas within a span of few years. But the truth is that, till now there is no such replacement. EVs are insanely expensive and the batteries need to be replaced very frequently (on top of that there is a shortage of Lithium and Cobalt). And now coming to Hydrogen, it is neither safe nor portable. For the next two decades, the green lobby will make tall claims of running vehicles on hydrogen and electricity, and nothing will change on the ground.

I call this syndrome "Gretta Thunberg of the brain". It seems that many "greens" are absolutely sincerely convinced that the electricity to charge electric vehicles is generated in a charging station. The problems of recycling used batteries and windmills are also diligently ignored.

I looked at the ruble
1. Do you remember the dollar exchange rate, OFFICIAL, in the USSR? Do you know why it is so "stable"? And what will happen when they impose an embargo on the purchase of oil and gas?
I give about 1-2 months after the embargo is introduced, and I predict a total collapse of the ruble. Now, by the way, it is not the stabilization of the ruble, but the washing out of the currency from the hamsters who still keep the dollar and the euro "under the mattress."
2. What can you say about the fact that the strengthening of the ruble is not economically beneficial for Russian exporters. "Great Economist" Kremlin miserable copy of Hitler, that one says that the depreciation of the ruble is pure benefit for the economy!
Here is a link to a video where he explains this: https://www.youtube.com/watch?v=xJo1YvNI6EQ (we turn on subtitles and translation, and read)
So someone sabotaged?
3. What currency is the Russian budget in? And what will the strengthening of the dollar lead to, despite the fact that the budget of Russia in good times was formed by 40-50% due to EXPORT and foreign exchange earnings?
4. About Germany. Germany's consumption of Russian gas is about 50%. Accordingly, Qatar will replace half of the gas from Russia. It's already good. LNG - yes, maybe a little more expensive, but at the same time, its supplies are increasing every day. Germany WILL have to pay for its flirtations and venality to the Kremlin terrorists - this is a fact, but they themselves are to blame for this. No need to choose such "friends" and sell yourself
There will be no suicide. There will be retribution for the "mistakes" made earlier. And in a couple of years the situation will completely stabilize, and everyone will forget about gas from Russia ...
5. About Europe. Europe, namely Germany, Italy, France, Hungary - these are those who lay under Russia, selling themselves, exchanging their pocket interests above the interests of the EU and their countries. Now they are paying for it. This is fine. It's like smoking, and then treating a long and expensive lung disease. This is predictable, they talked about it and warned, but someone decided that it would bypass him. No - it didn't work
All other countries do not have a critical dependence on Russian gas and are now actively looking for and finding alternative supplies.

1. There will be no embargo if you haven't figured it out yet.
2. The excessive strengthening of the ruble is indeed a problem. Fortunately, it is much easier to weaken your national currency than to strengthen it. I think in the near future the Central Bank of Russia will significantly reduce the key rate and this will make the ruble cheaper. This is the most obvious measure, but more surprises from the Kremlin are possible.
3. The budget of Russia is formed and executed in rubles.
4. Germany doesn't have a good choice right now. Either buy expensive liquefied gas or expensive pipeline gas, and there will be no more cheap pipeline gas from Russia. And there is not a single terminal for receiving liquefied gas, they are just being built.
5. Germany, Italy and Austria are countries heavily dependent on Russian gas and at the same time they are the industrial backbone of Europe. Coincidence? I do not think so. It is on cheap pipeline gas from Russia that all the industrial power of Europe rests, some industrial giants are directly connected to the main gas pipeline. Remove cheap Russian gas and Europe will turn into an office. With millions of unemployed and refugees, and with unprofitable industrial production.

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[Sithara007]

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4. Germany doesn't have a good choice right now. Either buy expensive liquefied gas or expensive pipeline gas, and there will be no more cheap pipeline gas from Russia. And there is not a single terminal for receiving liquefied gas, they are just being built.
5. Germany, Italy and Austria are countries heavily dependent on Russian gas and at the same time they are the industrial backbone of Europe. Coincidence? I do not think so. It is on cheap pipeline gas from Russia that all the industrial power of Europe rests, some industrial giants are directly connected to the main gas pipeline. Remove cheap Russian gas and Europe will turn into an office. With millions of unemployed and refugees, and with unprofitable industrial production.

No matter how much expensive pipeline gas is, it will still be cheaper than the LNG. Qatar LNG is being sold in Europe for all time high prices. There is a cheaper alternative in Yamal LNG (from Novatek), but the Europeans are stupid enough to sanction that source as well. And the only reason why German industries (especially automobile sector) are so competitive is because of cheap gas from Russia. Once again, as a result of mental retardance and stupidity, the Germans are disrupting this mutually beneficial structure to their own downfall.

[DrBeer]

1. There will be no embargo if you haven't figured it out yet.
2. The excessive strengthening of the ruble is indeed a problem. Fortunately, it is much easier to weaken your national currency than to strengthen it. I think in the near future the Central Bank of Russia will significantly reduce the key rate and this will make the ruble cheaper. This is the most obvious measure, but more surprises from the Kremlin are possible.
3. The budget of Russia is formed and executed in rubles.
4. Germany doesn't have a good choice right now. Either buy expensive liquefied gas or expensive pipeline gas, and there will be no more cheap pipeline gas from Russia. And there is not a single terminal for receiving liquefied gas, they are just being built.
5. Germany, Italy and Austria are countries heavily dependent on Russian gas and at the same time they are the industrial backbone of Europe. Coincidence? I do not think so. It is on cheap pipeline gas from Russia that all the industrial power of Europe rests, some industrial giants are directly connected to the main gas pipeline. Remove cheap Russian gas and Europe will turn into an office. With millions of unemployed and refugees, and with unprofitable industrial production.

1. If you think that the essence of the problems for Russia lies in the name of the process, then let there be no embargo! It’s just that at the beginning, the countries of the world minimize purchases, and then they completely stop buying from Russia
2. There have never been any surprises from the Kremlin. Idiotic actions - yes, their strong point! I recommend listening to this (I'm sure you are familiar with the Russian language ) https://www.youtube.com/watch?v=xhk4Y66OnDw
This, of course, is not a "masterpiece" from a "bunker economist", but in essence and with facts!
3. It is in rubles! And the cost of gas and oil exports is set in foreign currency, and the rate of major currencies is also set in the budget in order to predict both foreign exchange income and the equivalent in the "stable ruble." After all, the currency is good, but you should try to reduce the deficit budget to at least 0, because the salaries of the soldiers of the Russian army, murderers and marauders, you can’t pay in dollars, you need rubles!
And a little more from the expanses of the "great" - "The dollar is below 57 rubles - for the first time since March 2018. A barrel of oil in rubles is 6,500 rubles. Taking into account a discount of 35-40% for Urals, oil is already cheaper than 4,300 rubles. The budget includes 4,480 rubles. Instead of a budget surplus of 1.3 trillion, a deficit of 1.6 trillion is expected. The Ministry of Finance and exporters demand that the Central Bank lower the ruble" population)
4. Of course Germany doesn't have a good choice. This is a retribution for the sale of the interests of Germany and the EU, in exchange for "love in the Kremlin." And yes, it will not be easy for them, and there will be a lot of claims against Germany, by the way, like Italy. This is the price of lies and essentially theft.

But about the lack of LNG terminals - do you think if you lie so primitively, the terminals will disappear? Or will everyone believe and not check? You're not in Russia, this doesn't work here Or maybe you just don't know? Well then, I apologize. For one I will give you data from the real world

- On the European continent, including Turkey, today there are 28 terminals for receiving and processing LNG. At the same time, according to the latest data, only half of the capacities of these terminals are used.
- Spain is the country with the most LNG terminals in Europe. In total, six terminals operate in this country with an annual capacity of 43.8 million tons.
- there are 3 LNG terminals in the UK with an annual capacity of 38.1 million tons,
- in France 4 terminals with a capacity of 25 million tons
- Italy has 3 terminals with a capacity of 11 million tons.
- 2 LNG terminals operate in Turkey,
- in Belgium, Greece, Portugal, the Netherlands and Poland - one each.
- In addition, Turkey has in its arsenal 2 floating regasification units (PRGU), Israel, Lithuania and Croatia - one PRGU each.
- There are also small terminals for receiving LNG in countries such as Norway, Sweden and Malta, which are not included in the list of LNG import terminals.
- The total capacity of LNG terminals in Europe is about 150 million tons. However, today their workload is about 50%.
- Today, Europe meets only a quarter of its gas needs with LNG. At the same time, there are about 70-75 million tons of free capacity. And this means that after a full load, the EU will be able to replace more than half of Russian gas supplies, minimize the risks with gas supplies and stop financing international terrorists.

Knowledge is power ! But lies are stupid and always revealed ....

5. I agree! But for the betrayal of some, others can pay! This is also to p.p. 4 about betrayal. Let me remind Germany and Italy of the words of the Kremlin's miserable likeness of Hitler - "like it or not, bear it my beauty" ("нpaвитcя, нe нpaвитcя, тepпи мoя кpacaвицa"), now this applies to these two countries!

[be.open]

But about the lack of LNG terminals - do you think if you lie so primitively, the terminals will disappear? Or will everyone believe and not check? You're not in Russia, this doesn't work here Or maybe you just don't know? Well then, I apologize. For one I will give you data from the real world

- On the European continent, including Turkey, today there are 28 terminals for receiving and processing LNG. At the same time, according to the latest data, only half of the capacities of these terminals are used.
- Spain is the country with the most LNG terminals in Europe. In total, six terminals operate in this country with an annual capacity of 43.8 million tons.
- there are 3 LNG terminals in the UK with an annual capacity of 38.1 million tons,
- in France 4 terminals with a capacity of 25 million tons
- Italy has 3 terminals with a capacity of 11 million tons.
- 2 LNG terminals operate in Turkey,
- in Belgium, Greece, Portugal, the Netherlands and Poland - one each.
- In addition, Turkey has in its arsenal 2 floating regasification units (PRGU), Israel, Lithuania and Croatia - one PRGU each.
- There are also small terminals for receiving LNG in countries such as Norway, Sweden and Malta, which are not included in the list of LNG import terminals.
- The total capacity of LNG terminals in Europe is about 150 million tons. However, today their workload is about 50%.
- Today, Europe meets only a quarter of its gas needs with LNG. At the same time, there are about 70-75 million tons of free capacity. And this means that after a full load, the EU will be able to replace more than half of Russian gas supplies, minimize the risks with gas supplies and stop financing international terrorists.

Knowledge is power ! But lies are stupid and always revealed ....

5. I agree! But for the betrayal of some, others can pay! This is also to p.p. 4 about betrayal. Let me remind Germany and Italy of the words of the Kremlin's miserable likeness of Hitler - "like it or not, bear it my beauty" ("нpaвитcя, нe нpaвитcя, тepпи мoя кpacaвицa"), now this applies to these two countries!

You have listed the number of terminals in Europe, but how many are in Germany? At the moment - zero. Do not accuse me of lying if you are not attentive and do not own the subject of the conversation.

ps The Central Bank of Russia today lowered the key rate by 3%, the ruble reacted with a noticeable decline. It is quite easy to weaken your currency, the reverse process is noticeably more painful and difficult.

[DrBeer]

You have listed the number of terminals in Europe, but how many are in Germany? At the moment - zero. Do not accuse me of lying if you are not attentive and do not own the subject of the conversation.

ps The Central Bank of Russia today lowered the key rate by 3%, the ruble reacted with a noticeable decline. It is quite easy to weaken your currency, the reverse process is noticeably more painful and difficult.

0. If we talk specifically about Germany - yes, I agree, at the moment there are no terminals for receiving LNG in Germany, I apologize for the inaccuracy of the answer! But the lack of LNG terminals, namely in Germany, does not create a global problem for Germany related to obtaining LNG. Why ? Because:
1. LNG can be obtained from any neighbor, terminal owner that regasifies LNG.
2. Germany signed contracts for chartering four floating liquefied natural gas (LNG) import terminals in partnership with utility companies RWE and Uniper. And this replaces the missing terminals at the first stage.
3. Germany, in partnership with the Dutch Nederlandse Gasunie NV and RWE AG, will build a terminals for liquefied natural gas to refuse Russian imports. As a result, 4 LNG terminals will be built. They will be located in the cities of Wilhelmshaven, Stade, Hamburg, Brunsbuttel.

Those. Rented floating terminals will be used NOW, in the near future, for systemic diversification of gas supplies - 4 LNG terminals will be built. Moreover, two of them should go into operation in the coming winter - at the end of 2022 or at the very beginning of 2023.

AND ? Where is the problem ?


And about the games with the ruble, or rather its stability - that is. "strengthening the ruble" - is it just manipulation? Or how to call a currency in which stability and strength is replaced by weakness in 1 day and by order?
And another question about the ruble - if it has strengthened so much, why did inflationary processes, even for the simplest products, of domestic production, rise sharply in price? And even after the strengthening of the ruble, mathematically almost 2 times (in relation to the peak), prices continued to grow, in rubles? For local products?

[be.open]

You have listed the number of terminals in Europe, but how many are in Germany? At the moment - zero. Do not accuse me of lying if you are not attentive and do not own the subject of the conversation.

ps The Central Bank of Russia today lowered the key rate by 3%, the ruble reacted with a noticeable decline. It is quite easy to weaken your currency, the reverse process is noticeably more painful and difficult.

0. If we talk specifically about Germany - yes, I agree, at the moment there are no terminals for receiving LNG in Germany, I apologize for the inaccuracy of the answer! But the lack of LNG terminals, namely in Germany, does not create a global problem for Germany related to obtaining LNG. Why ? Because:
1. LNG can be obtained from any neighbor, terminal owner that regasifies LNG.
2. Germany signed contracts for chartering four floating liquefied natural gas (LNG) import terminals in partnership with utility companies RWE and Uniper. And this replaces the missing terminals at the first stage.
3. Germany, in partnership with the Dutch Nederlandse Gasunie NV and RWE AG, will build a terminals for liquefied natural gas to refuse Russian imports. As a result, 4 LNG terminals will be built. They will be located in the cities of Wilhelmshaven, Stade, Hamburg, Brunsbuttel.

Those. Rented floating terminals will be used NOW, in the near future, for systemic diversification of gas supplies - 4 LNG terminals will be built. Moreover, two of them should go into operation in the coming winter - at the end of 2022 or at the very beginning of 2023.

AND ? Where is the problem ?

The problem is the huge volumes of gas that Germany needs. This problem breaks down into several parts: the leased terminals are small, there is not enough free gas on the market to meet German demands, and there are not enough free tankers in the world to bring liquefied gas to Germany.

And about the games with the ruble, or rather its stability - that is. "strengthening the ruble" - is it just manipulation? Or how to call a currency in which stability and strength is replaced by weakness in 1 day and by order?

The strengthening of the ruble was caused by Europe's purchases of gas through Gazprombank with the conversion of euros into rubles on the Moscow Currency Exchange under Putin's scheme.

And another question about the ruble - if it has strengthened so much, why did inflationary processes, even for the simplest products, of domestic production, rise sharply in price? And even after the strengthening of the ruble, mathematically almost 2 times (in relation to the peak), prices continued to grow, in rubles? For local products?

Inflation was brought under control and the ruble was deflated last week. Therefore, the Central Bank of Russia took measures to weaken the ruble - lowered the key rate, and also reduced the limit on the mandatory sale of exporters of foreign exchange earnings from 80 to 50 percent and increased the sale period from 90 to 120 days.

Prices in stores rose from the initial sanctions shock, then stabilized and even crept down. Gasoline in Russia has fallen in price since the beginning of the operation, the prices for utilities have not changed. There are no empty shelves in grocery stores. In general, hunger riots do not threaten Russia.

[Joshapat]

Installation of complicated and certainly many countries that have gas material become difficult if Russia stops supplying gas, and this is what is a strong consideration for Russia not to be afraid of any sanctions from Europe, when Russia feels pressured by European politics, by stopping European gas supply will suffered much problems.

[awik p]

Installation of complicated and certainly many countries that have gas material become difficult if Russia stops supplying gas, and this is what is a strong consideration for Russia not to be afraid of any sanctions from Europe, when Russia feels pressured by European politics, by stopping European gas supply will suffered much problems.

It is indeed not easy to create a new network for gas to replace Russia's role, and that may be what Russia has used so that it can remain firm with its stance to date, and what has happened is that the energy crisis occurred in Europe, resulting in inflation resulting in high prices. and from this political war, the Europeans are the victims, while Russia, China and India are preparing to accept it

[DrBeer]

Inflation was brought under control and the ruble was deflated last week. Therefore, the Central Bank of Russia took measures to weaken the ruble - lowered the key rate, and also reduced the limit on the mandatory sale of exporters of foreign exchange earnings from 80 to 50 percent and increased the sale period from 90 to 120 days.

Prices in stores rose from the initial sanctions shock, then stabilized and even crept down. Gasoline in Russia has fallen in price since the beginning of the operation, the prices for utilities have not changed. There are no empty shelves in grocery stores. In general, hunger riots do not threaten Russia.

Sounds nice. And probably in theory or in other countries it works like that. Then a couple more questions.
- why the prices for products do not decrease, and moreover - grow. For example, the network "Mir Vkusa", in Moscow, I know for sure that revaluation is carried out almost daily, and all products are only getting more expensive. This is just a real market example.
- weakening of the ruble, beneficial to exporters (such as Rosneft and other resource sellers), but categorically not beneficial to importers and the population. Like it or not, but in almost everything, from wrapping materials to flavorings, from consumables to assemblies, Russia imports, which means that everything will be reflected in the cost of mass products. Reflected in the form of price increases. It turns out that they gave preference to Rosneft, shifting the entire burden on their already impoverished population? And there is still a decrease in the volume of hydrocarbon supplies and a decrease in income from these transactions ....

[be.open]

Inflation was brought under control and the ruble was deflated last week. Therefore, the Central Bank of Russia took measures to weaken the ruble - lowered the key rate, and also reduced the limit on the mandatory sale of exporters of foreign exchange earnings from 80 to 50 percent and increased the sale period from 90 to 120 days.

Prices in stores rose from the initial sanctions shock, then stabilized and even crept down. Gasoline in Russia has fallen in price since the beginning of the operation, the prices for utilities have not changed. There are no empty shelves in grocery stores. In general, hunger riots do not threaten Russia.

Sounds nice. And probably in theory or in other countries it works like that. Then a couple more questions.
- why the prices for products do not decrease, and moreover - grow. For example, the network "Mir Vkusa", in Moscow, I know for sure that revaluation is carried out almost daily, and all products are only getting more expensive. This is just a real market example.

These are the most expensive grocery stores in Moscow, and maybe in all of Europe, with a focus on uncompromising quality of products.

- weakening of the ruble, beneficial to exporters (such as Rosneft and other resource sellers), but categorically not beneficial to importers and the population. Like it or not, but in almost everything, from wrapping materials to flavorings, from consumables to assemblies, Russia imports, which means that everything will be reflected in the cost of mass products. Reflected in the form of price increases. It turns out that they gave preference to Rosneft, shifting the entire burden on their already impoverished population? And there is still a decrease in the volume of hydrocarbon supplies and a decrease in income from these transactions ....

That's right, a weak ruble is beneficial for exporters and disadvantageous for importers. Now the Central Bank of Russia is looking for a comfortable equilibrium rate that suits both. At the same time, he does not have at his disposal the usual levers for managing the exchange rate of the ruble in the form of direct interventions in the foreign exchange market, since his foreign exchange reserves are blocked by sanctions. But it seems that other methods, such as changing the key rate, changing the conditions for the mandatory sale of foreign currency for exporters, and verbal interventions by the head of the Central Bank also work well.

From June 1, the Government, as part of supporting the population, increased pensions for pensioners by 10% (for the second time in a year, the previous increase was in January) and the minimum wage by 10%, on which the salaries of state employees directly depend.

[bitgov]

Inflation was brought under control and the ruble was deflated last week. Therefore, the Central Bank of Russia took measures to weaken the ruble - lowered the key rate, and also reduced the limit on the mandatory sale of exporters of foreign exchange earnings from 80 to 50 percent and increased the sale period from 90 to 120 days.

Prices in stores rose from the initial sanctions shock, then stabilized and even crept down. Gasoline in Russia has fallen in price since the beginning of the operation, the prices for utilities have not changed. There are no empty shelves in grocery stores. In general, hunger riots do not threaten Russia.

Sounds nice. And probably in theory or in other countries it works like that. Then a couple more questions.
- why the prices for products do not decrease, and moreover - grow. For example, the network "Mir Vkusa", in Moscow, I know for sure that revaluation is carried out almost daily, and all products are only getting more expensive. This is just a real market example.

These are the most expensive grocery stores in Moscow, and maybe in all of Europe, with a focus on uncompromising quality of products.

- weakening of the ruble, beneficial to exporters (such as Rosneft and other resource sellers), but categorically not beneficial to importers and the population. Like it or not, but in almost everything, from wrapping materials to flavorings, from consumables to assemblies, Russia imports, which means that everything will be reflected in the cost of mass products. Reflected in the form of price increases. It turns out that they gave preference to Rosneft, shifting the entire burden on their already impoverished population? And there is still a decrease in the volume of hydrocarbon supplies and a decrease in income from these transactions ....

That's right, a weak ruble is beneficial for exporters and disadvantageous for importers. Now the Central Bank of Russia is looking for a comfortable equilibrium rate that suits both. At the same time, he does not have at his disposal the usual levers for managing the exchange rate of the ruble in the form of direct interventions in the foreign exchange market, since his foreign exchange reserves are blocked by sanctions. But it seems that other methods, such as changing the key rate, changing the conditions for the mandatory sale of foreign currency for exporters, and verbal interventions by the head of the Central Bank also work well.

From June 1, the Government, as part of supporting the population, increased pensions for pensioners by 10% (for the second time in a year, the previous increase was in January) and the minimum wage by 10%, on which the salaries of state employees directly depend.

Russia is powerful and they will come back no matter what. All the effort of putting Russia in trouble will go fail.
All the counties are united to put Russia in trouble but they are biggest oil producers and they can not be defeated.

[Sithara007]

From June 1, the Government, as part of supporting the population, increased pensions for pensioners by 10% (for the second time in a year, the previous increase was in January) and the minimum wage by 10%, on which the salaries of state employees directly depend.

Well.. as a result of sanctions and embargoes, crude oil is now trading in the $120 per barrel range. And the Russian treasury is getting tens of billions of USD in forex inflows every month. So the government has some room for maneuvering, despite a large part of the reserves being frozen by the west. IMO, they should take care of the massive decrease in the population first. A decade ago, the government launched certain incentives (maternity capital) for parents who are having their second or third child. I am not hearing about this nowadays. 

[pooya87]

Well.. as a result of sanctions and embargoes, crude oil is now trading in the $120 per barrel range.

Actually the recent small jump in the price that pumped the price to $120 was because of the "oil war" that US started recently when they seized an Iranian tanker carrying 700k barrels of oil and forced Iran to seize 2 tankers carrying 1.8 million barrels of oil in retaliation.

[be.open]

From June 1, the Government, as part of supporting the population, increased pensions for pensioners by 10% (for the second time in a year, the previous increase was in January) and the minimum wage by 10%, on which the salaries of state employees directly depend.

Well.. as a result of sanctions and embargoes, crude oil is now trading in the $120 per barrel range. And the Russian treasury is getting tens of billions of USD in forex inflows every month. So the government has some room for maneuvering, despite a large part of the reserves being frozen by the west. IMO, they should take care of the massive decrease in the population first. A decade ago, the government launched certain incentives (maternity capital) for parents who are having their second or third child. I am not hearing about this nowadays. 

The family support program continues to operate and even expanded, now maternity capital in Russia is also provided for the birth of the first child.

[Sithara007]

The family support program continues to operate and even expanded, now maternity capital in Russia is also provided for the birth of the first child.

That is good to hear. Birth rate in Russia is slightly higher than the comparable numbers in Western European nations such as Italy, but at around 1.5 children per woman it is not enough to ensure population growth. Hopefully the government will further expand the program and it will have some impact on the birth rates.

Actually the recent small jump in the price that pumped the price to $120 was because of the "oil war" that US started recently when they seized an Iranian tanker carrying 700k barrels of oil and forced Iran to seize 2 tankers carrying 1.8 million barrels of oil in retaliation.

Yes.. I read about the seizure of Iran oil by the Americans. This has to be the stupidest thing to do, when the crude oil prices are nearing record highs. I really doubt about the intention form the Biden administration. What do they want? Are they trying to hurt oil-importing nations such as India and Japan? Because neither Russia nor Iran has been harmed till now from all this drama.

[mm2543363580]

Yes.. I read about the seizure of Iran oil by the Americans. This has to be the stupidest thing to do, when the crude oil prices are nearing record highs. I really doubt about the intention form the Biden administration. What do they want? Are they trying to hurt oil-importing nations such as India and Japan? Because neither Russia nor Iran has been harmed till now from all this drama.

Now I feel trump administration was far better than Biden administration.
There are news coming from Sri Lanka and Pakistan - particularly Pakistan, that they have serious trouble with Biden administration. I think Trump America was a better America.

[romero121]

I think this is a opportunity of Venezuela. Europe wants oil and gas. It has the required tech. Venezuela needs money and food. If europe want long term security. It should make sensible long term investment in Venezuela.

Venezuela takes tenth position in oil export and 13th position on oil production. Already it is a big exporter and the countries include USA, China and India. Nearly 57% of the oil is exported to the above three countries. Maybe citing the ongoing situation, the USA can make a talk. Already Venezuela is economically down and this change is just a discussion, but it is quite hard to get approved by the authority.

[Sithara007]

Now I feel trump administration was far better than Biden administration.
There are news coming from Sri Lanka and Pakistan - particularly Pakistan, that they have serious trouble with Biden administration. I think Trump America was a better America.

Trump is a businessman and he knows how to keep the economy afloat. During his 4-year term, he made sure that the industries doesn't close down and move their operations abroad. He was quite successful in doing that. And oil prices remained at around $40 per barrel level throughout his term, because he removed the unnecessary regulations. When Biden came to power, the first thing he did was to impose additional restrictions on the shale oil producers. And within 2 years, not only the US, but countries around the world are staring at sky high inflation rates and costly utility bills.

[pooya87]

And oil prices remained at around $40 per barrel level throughout his term, because he removed the unnecessary regulations. When Biden came to power, the first thing he did was to impose additional restrictions on the shale oil producers.

Oil price is a double edged sword for US*, a lower price oil means lower costs for consumers hence less inflation** but also that means there is little justification for the highly expensive shale oil extraction that could even reduce the production and increase US dependency on imports.
A higher oil price on the other hand means it makes financial sense for oil exploration and extraction for oil companies in US. But that also increases consumer costs contributing to inflation.

* It is not entirely the same elsewhere since oil extraction in lets say West Asia is easier and doesn't need the same amount of effort it needs in US so the production cost is always far lower.
** Although inflation is affected by a lot of things like the trillions of dollars that were all minted during Trump administration!

And within 2 years, not only the US, but countries around the world are staring at sky high inflation rates and costly utility bills.

Not all countries face the same problems. For example we are mass exporting oil, gas, petrol, ... at the much higher prices but our domestic price of these things have not changed. My gas bill is the same as it was 5 years ago.

[Cryptock]

And oil prices remained at around $40 per barrel level throughout his term, because he removed the unnecessary regulations. When Biden came to power, the first thing he did was to impose additional restrictions on the shale oil producers.

Oil price is a double edged sword for US*, a lower price oil means lower costs for consumers hence less inflation** but also that means there is little justification for the highly expensive shale oil extraction that could even reduce the production and increase US dependency on imports.
A higher oil price on the other hand means it makes financial sense for oil exploration and extraction for oil companies in US. But that also increases consumer costs contributing to inflation.

* It is not entirely the same elsewhere since oil extraction in lets say West Asia is easier and doesn't need the same amount of effort it needs in US so the production cost is always far lower.
** Although inflation is affected by a lot of things like the trillions of dollars that were all minted during Trump administration!

And within 2 years, not only the US, but countries around the world are staring at sky high inflation rates and costly utility bills.

Not all countries face the same problems. For example we are mass exporting oil, gas, petrol, ... at the much higher prices but our domestic price of these things have not changed. My gas bill is the same as it was 5 years ago.

Earlier because of Covid and now because of Ukraine and Russia war. The wheat and gas crisis is going to leave footprint  throughout the globe.
I am very much worried because my income is dropping and inflation in my region is uncontrollable.