Post
Topic
Board Economics
Merits 3 from 2 users
Re: Russian Gas ban - A problem for Europe or suicide for Russia?
by
Sithara007
on 11/05/2022, 02:42:26 UTC
⭐ Merited by pooya87 (2) ,be.open (1)
Germany doesn't have an agreement with Qatar but there is another player that you haven't accounted for. US going to apply pressure on the oils cartel with NOPEC bill that allows US to sue the oil cartel or its members, force them to increase their oil production or risk of their assets frozen in US banks or no business with US's entities. If those cartel doesn't like it, they can open up a shooting war with US which I'm sure US will be happier to have more oil country under their control.

LOL.. do you really believe that at this point, the United States government has the guts to act against the OPEC cartel? Any such move would mean crude oil surging beyond the $200 per barrel level, and it will cause immediate economic ruin to oil importing nations such as Germany, Japan and France. The US will be fine, because they produce most of the oil and gas which they consume within their borders. So far OPEC members such as Saudi Arabia has refused demands from the US to increase oil production, because they don't see any economic benefit from doing so.