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When the war gets more brutal, I expect increasing pressure to shut off the Russian oil and gas spigot. Or instead increase import tariffs so at least the Putin
by cmurf 5y ago
When the war gets more brutal, I expect increasing pressure to shut off the Russian oil and gas spigot. Or instead increase import tariffs so at least the Putin regime isn't able to profit. Either way, it will increase the cost at the pump, and I'm expecting well above $6/gallon.
- mkr-hn 5y agoWe don't import that much from Russia. It's little enough that finding other sources shouldn't take long. Oil and gas are highly fungible.
- xedrac 5y agoUnfortunately the price of crude oil is dictated by the global supply and demand.
- GiorgioG 5y agoThe rest of the world does and thus the price of oil will go up for everyone.
- dragonwriter 5y agoDid, prior to sanctions. Now even though oil and gas aren't sanctioned, Russian oil is going without buyers. https://www.npr.org/2022/03/04/1084448619/russia-lowers-its-oil-prices-after-buyers-self-sanction https://www.npr.org/2022/03/04/1084448619/russia-lowers-its-...
- unmole 5y ago> Oil and gas are highly fungible. Crude oil isn't completely fungible. Refineries are built to handle specific grades.