Is There a Winner?

Is There a Winner?

Spread the love

Following on from my last blog post about electric cars, the oil sanctions that Biden has put on Russia doesn’t seem like a win-win at all.

And, at the end of the day is it really worth it?

Pull up the horse and let me finish.

I’m all for putting the squeeze on Putin, but the way I see it, all it’s going to do is ramp up oil production elsewhere. For example. One thing you can be certain of, the US oil industry will start producing more as Biden starts looking for ways to plug the gap.

I’ve even heard they’ll get some of the shortfalls from Venezuela and Iran – both countries currently heavily sanctioned by the US.
But I’m sure it won’t stop the ongoing sanctioning of these countries; just the oil trade will open up. Let’s trust that they will get paid for the oil, and if they do, it will be a win for them.

It appears this crisis has been a bit of a dig at the EU to smarten its act up regarding its dependency on oil and gas. They announced they’ll reduce their reliance on Russia by the end of the year. Great. But no doubt they’ll just shop elsewhere. However, there was talk of increasing renewable hydrogen production and improving energy efficiency in households. I won’t hold my breath there will be any huge developments in those areas, going by past results. But, hey, I’m always open to being proved wrong.

It’s a wait and see.

So why do I think that the oil sanctions on Russia are not a win-win? Russia is the world’s third-largest producer after the US and Saudi Arabia. By my reckoning other oil-producing countries will have to ramp up production putting more pressure on the environment. I’ll almost guarantee more licences will given out for exploration and drilling. The rich will get richer, and the poor will keep bearing the brunt of the increased costs to the pocket and environment.

fee figures

Simply my opinion.

 

 

 

 

 

 




STAY IN THE LOOP


Spread the love

Fee Writes

Related Posts

International Travel Kicks In.

International Travel Kicks In.

People Watching

People Watching

The Ever-Increasing Cost of Fuel

The Ever-Increasing Cost of Fuel

Married Twice!

Married Twice!

Search

Stay in the loop

About Me

About Me

Thanks for dropping by, my name is Fee O’Shea. I’m a mother and grandma, an author and an Improver. I’ve got a resource website to help peeps go plant-based, I’ve scribbled six books centred around veganism, and have helped others write and publish their own stories.
But this blog is for my thoughts, my rants, raves, reviews and things that have grabbed my attention. From politics to social media to beauty, health and the environment. Fee’s Ramblings Over Coffee is written to bring you a smile or get you thinking. Enjoy.

Categories

DROP ME A LINE

Don't be shy, please contact me if you have any questions or what you'd like me to write about.

A Trusted Site

Just so you know:
Links on this website may give me a small commission,
but there’s no extra cost to you!