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So many reasons. Fossil fuels are half of their economy at best. As a single market, China doesn't pay them much per barrel. Their oil production per barrel i
by SyzygistSix 5y ago
So many reasons.
Fossil fuels are half of their economy at best. As a single market, China doesn't pay them much per barrel. Their oil production per barrel is expensive. Their drilling industry uses Western tech and resources, including Western technicians. I have a difficult time imagining any country doing well with their imports and exports reduced by 50-60%.
oec.com has lots of info per country on what makes up their economy.
- ilyich 5y agoEurope and the USA simply have no alternative to Russian oil and natural gas. They may have in 20 or 30 years from now if they start investing in it several billion dollars per year right now. That's why gas prices in Europe and oil prices in the USA are skyrocketing these days.
- dragonwriter 5y ago> Europe and the USA simply have no alternative to Russian oil and natural gas. Russian oil is already going unsold, without formal sanctions.