Quote from: abhiseshakana on April 03, 2020, 01:54:02 PM

Quote from: stompix on April 01, 2020, 09:04:43 AM

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Russia turned off its gas to Europe in order to get low prices for goods imported from the Netherlands, Belgium, and Britain. Russian wheat and wine products were bought high by Belgium and the Netherlands because of high import taxes.

Russia never turned off the gas, if they will ever do so they can go back to eating grass.
Second, both Netherlands and Belgium are doing fine, to understand this you have to realize that the tiny country of Netherlands is exporting 94.5 billion worth of agricultural goods while total exports of Russia with oil and gas are 300 billion.
Russia is even importing caviar from Italy:
https://www.bloomberg.com/news/articles/2015-08-10/food-of-czars-made-in-italy-as-caviar-is-spared-putin-ban

Quote from: abhiseshakana on April 03, 2020, 01:54:02 PM

In an interview with Fox, Trump said his objections to the war on Russian and Saudi oil prices. "It really hurts the US energy industry. In a press statement, the White House expressed the importance of the stability of oil prices in the global energy market. Trump also said he would review sanctions previously given to Russia, which were previously given to a number of companies from the White Bear country.

You're not up to date: Grin

Let's talk numbers:

Shale break-even point is at 35$, so the US would have to subsidize 15$ per 8 million barrels a day for 365 days. That's 43 billion.

Russia, on the other hand, must have oil at 42$, so assuming again 20$ per barrel they lose 22$ per barrels x 10 million x 365. That's 80 billion.

But is that double? Nope, it's far worse.

US budget is 3.8 trillion, so that's 1%.
Russian budget is $326.5 billion, so that's 25%.
Who do you think would last longer?

Ps.
If you care so much about what Trump said
https://www.reuters.com/article/us-global-oil/oil-futures-pare-record-gains-as-doubts-creep-in-on-trumps-saudi-russia-output-deal-idUSKBN21K3HZ

Quote

The sharp rebound from weeks of losses came after U.S. President Donald Trump said Russia and Saudi Arabia will negotiate to end a price war that slashed prices last month by more than half. Trump said the United States has not agreed to cut its output.

You were saying the bluff failed? Seems like the opposite, both Saudia Arabia and Russia are on their knees.