Stopping Russian oil, what does that mean?

The map shows two large customer concentrations: Europe and China. Smaller amounts of oil go to the US, India, South Korea, Japan, and a few others. Affect on pricing, probably up, but remains to be seen how trade relationships might change. Dependence in Europe is more of an issue than in the US, but pain at the pump will still be felt. Also, remember gas prices started skyrocketing as soon as Joe Biden took office, Democrat policies started all this, not Russia. Russia just made it worse because of the vulnerable position Biden put us in.

Yesterday, Neil Cavuto explained all this and the way oil (gasoline) pricing is set. It is based on forecasting of future value. The market forecast, accurately, when Biden was elected, that oil prices would go up. They continue to need a reason to believe that anything Biden does will improve the situation in the future. Electric vehicles won't do it. EV strategies are laughed at by this market. Joe Biden & Jen Psaki's comments are so absurd that even MSNBC anchor Katy Tur noted how 'insane' it was that the US in not energy independent.

MSNBC's @KatyTur on the U.S. importing Russian oil: "This just exposes how insane it is that we rely — we rely on energy from authoritarian leaders and we are not self-reliant on our own energy." pic.twitter.com/GK9Q8vUEEm

— Tom Elliott (@tomselliott) March 8, 2022

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