Quote (dro94 @ Jun 18 2022 04:22am)
It's interesting because Russia hold the leverage in the short term and the West holds it in the medium - long term. Russia will mostly cease to be an oil supplier to the West from next year; harming their own revenues on gas seems counterproductive, but if the West is going to move away from Russian gas eventually then it's just a case of timing
In the bigger picture the biggest winners are the US. They're now the largest gas and oil exporter in the world, they're bringing Europe closer to them after years of fractuous relations while simultaneously reducing their dependency on a geopolitical rival. China and India don't have natural resources at their disposal so it's a big win for the US long term
They are still suppling oil to the west by using blends/unmarked ships and of course by shipping into India for refinement which in turn is sold back onto oil markets. This IMO won't change.
Winners are the US, India, China.
Losers: Europe, Russia, much of the 3rd world that can't compete or afford sky high energy prices
This post was edited by ofthevoid on Jun 18 2022 07:16am