| #1 OK, oil primer. Oil is considered Russian when it is more than 50% Russian. Tariff's are removed on oil when its more than 50% from another country. For example, tankers line up and transfer 45% of the tanker into a ship with 55% Saudi oil and it is now considered Saudi oil. hats the rules, or so I'm told from a guy that brokers oil. The Russian oil will get moved on the world market, it will hurt, but it will happen. And gas that was refined in another country is considered from that country. So Russian oil refined into gas in another country is not Russian and will get into American tanks. When we were energy independent the oil companies only filled the tankers waiting at Houston for refinement to just above 50%, then they hooked up to other nations tankers and transferred the oil and the oil was considered US oil and import tariffs were not applied. Fun fact of the day, the oil companies always win... |
Peter Zeihan on how Russian oil will disappear of the market and how the Chinese will not benefit from Europe's ban on Russian energy.