Name:   MartiniMan - Subject:   The stupidity of banning Russian oil Date:   3/9/2022 4:54:53 PM

The more I look into this the more I realize what a monumental mistake this is and to the extent I bought into the notion that we are funding Russia's invasion of Ukraine the more wrong headed I was.  To wit, oil is fungible.  Even if we ban the purchase of Russian oil someone else will buy it.  If we really want to punish Russia the very best way to do that is to do everything in our power to lower oil prices and reduce the revenue they get on a per barrel basis.  They only have one way to keep revenue up when prices drop and that is to sell more which further depresses the price.

As I can now see the only thing this accomplishes is to punish the American consumer and push the price of oil up thereby benefiting Russia with more petrodollars at lower rates of production.  And what can we do?  Drill baby drill.  We need to expand domestic production, open ANWAR, finish the Keystone pipeline, promote fracking......ya know, all the stuff we did prior to Dementia Joe that made us a net exporter and kept prices low.  But don't expect Dementia Joe to do the right thing as he is controlled by environmental whackos that appear to be cheering on WW3..  And the Saudi's realize this and are loving it and have told Dementia Joe to pound sand.  Back to begging for oil on the world market.....just another example of his America Last agenda.