EU To Set $60 Price Cap On Russian Oil; Kremlin Vows To Ignore, Cut Supply

The level of stupidity is truly mind blowing.

The EU can't dictate the market price of oil, no matter how much they whine, scream and virtue signal.

Supply and demand sets the price.

And the EU controls neither. LOL. Fucktards!

[link to www.zerohedge.com (secure)]


FRIDAY, DEC 02, 2022 - 11:03 AM
The European Union reached a deal on Friday to cap Russian oil at $60 a barrel, paving the way for G7 nations to launch an 'unprecedented mechanism,' as the Wall Street Journal reports.


The move came after overcoming a last-minute push by Poland to lower the cap, for which the European Commission had originally proposed between $65 and $70 per barrel. In short, the EU came down to Poland's price, which had become a point of contention for more than a week.

Man, these Eurocucks are fucking stupid.


Every single move they make only strengthens Russia and weakens Europe.

Yep.

Europe breaks out a wooden sword and a paper hat.

Russia responds with a machine gun.

So glad I don’t live in Europe anymore, as they are all terminally stupid and likely to freeze to death each winter.

[link to www.zerohedge.com (secure)]


FRIDAY, DEC 02, 2022 - 11:03 AM
The European Union reached a deal on Friday to cap Russian oil at $60 a barrel, paving the way for G7 nations to launch an 'unprecedented mechanism,' as the Wall Street Journal reports.


The move came after overcoming a last-minute push by Poland to lower the cap, for which the European Commission had originally proposed between $65 and $70 per barrel. In short, the EU came down to Poland's price, which had become a point of contention for more than a week.

"A far harsher, separate EU embargo on Russian crude traveling by sea or via pipeline is set to take effect on Dec. 5, in an attempt to financially curtail Moscow’s war effort.

American negotiators worry that the EU embargo, combined with the threat of cutting off insurance and other services for vessels shipping Russian oil, will send crude prices upward, unintentionally boosting the Kremlin’s revenue.

The White House hopes that the price cap will encourage the EU to relax its draconian plan to completely ban the importation, financing, and insuring of Russian oil shipments."


So that makes two reasons for oil prices to go up.

EU price embargo

Cutting off insurance and services to Russian vessels.

maybe instead of planning mass genocide events because russia wont sell cheap oil, we should just adjust our lifestyles to live with less of this precious and finite resource?

Just a fun fact, Russian crude oil has a break even of $30 a barrel, Russia will cut off the EU countries that agree to the cap.

Russia has been supplying crude to India and China, India refines it and sells it to the EU at current OPEC prices.

Same applies to China, they keep most of it but give alittle to the US.

Winners are Russia/India/China.

Loosers are the EU and the US.

maybe instead of planning mass genocide events because russia wont sell cheap oil, we should just adjust our lifestyles to live with less of this precious and finite resource?

maybe instead of planning mass genocide events because russia wont sell cheap oil, we should just adjust our lifestyles to live with less of this precious and finite resource?

God I am so tired of the DS BS-The US wants to sell expensive oil to the EU and no conern about the people. These folk are insane

they have no means of delivery dipshit

maybe instead of planning mass genocide events because russia wont sell cheap oil, we should just adjust our lifestyles to live with less of this precious and finite resource?

Oh shut up with the how dare the EU. OPEC sets prices by setting production quotas (Russia is part of OPEC). Go ask American Oil and Gas companies on how they fair with OPEC.