RUSSIA – Oil Price Cap Will DESTROY Russian Oil Revenue & Economy WITHOUT Affecting Global Oil Price

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There’s an upper limit to where OPEC can go with the price of oil… the higher it goes the more it makes sense for everyone else to tap typically expensive sources of oil, adding to supply.

Everyone is talking about oil prices, because higher prices means more money to buy tanks and bullets. But what I want to know, is how the industries making the war stuff are doing. Can they get their hands on metals and electronics? Can they operate at maximum capacity? How does the sanctions affect them? It's not like Russia can buy it all on the open market. They have to make most of it themselves.

Oil money is good and all, but that money doesn't speed up nor slow down actual production. And that is what counts in a war.

Where did Modi's fan boys go? There used to be a lot of Indians on YouTube pooh-poohing the West and glorifying Putin.

It's time to free ourselves from oil market manipulation. I have just ordered an EV, and if others do the same over the next year or so, it will help to permanently lower oil demand.

Joe: You say, Russer is and Russer are. Which is correct?

In my opinion OPEC will not agree to a Russia price cap and could go to war with the west on oil which like most of the attempted sanctions have caused more pain to the western countries than Russia.We seem to forget that Russia is one of the very few countries that is completely self sufficient with powerful allies.The BRICS countries are already setting up their own infrastructure which is creating a East/West divide and all the signs are that these moves will further damage the west.
Sorry,Joe,I believe the western leaders are all under the control of the WEF ESG global elite and are fanatical global idealists wanting to create a one government west controlled by American interests.

Also another important factor to oil production and associated costs is the cheapest oil to supply chart. For example at an average breakeven price of $29US per barrel – is onshore Middle East, which is primarily Saudi Arabia. Russia is approximately $40US per barrel. The most expensive is Canada’s oil sands at an average breakeven price of $74US per barrel. Next to oil sands is US shale oil at $62US breakeven – expensive to produce because of its need for multistage hydraulic fracturing.  Near the middle is Onshore “RoW” or “rest of world”, which includes Canada, at $55US. Saudi Arabia and Iran are the wild card in this game and it's very doubtful they will tow the line on any agreement coming from the West. Saudi Arabia can over produce and force the price to the point where most countries cannot make money or under produce causing the price to sky rocket along with inflation. Both options will have little affect on Saudi Arabia's economy compared to other countries. My guess the Saudi's decision in oil production levels will not be in the West's best interest.

I predict this will turn into a cudgel to beat Russia with every time they do crazy stuff. Commit atrocities, price per barrel goes down two dollars per barrel for russia. But have you thought about this, if Russia excepts this deal Then Russian oil becomes legit, and because it’s at such a discount, it becomes the most In demand. At that point, since Russian oil is not sanctioned, You could see International companies into Russia to help them produce more oil cheaply.

16:51 – One of the very few times "effect" is used as a verb.

Joe, do you realize how rapidly EVs are ramping up? EVs constituted 6.9 million of the 80 million vehicles manufactured in 2021. Not quite 10%, but then number should be up by 50% to 100% in 2022 and grow faster over subsequent years.

This means demand reduction. As demand drops the wholesale price of oil drops in order to force the highest cost producers out of the market.

"A world oil price in the range of $55 to $60 per barrel is less than the cost of Russian Arctic oil production, European and Brazilian biofuel production, US and Canadian shale and tight oil production, and Brazilian presalt oil production."

Why cannot there be an all out attack on Russia's oil & gas infrastructures as punishment for their dirty deeds? Ukraine likely has oil beneath the earth & can supply not only themselves, while at the same time, help the EU consumption. This would hurt Russia far more than firing nuclear missiles at them.