US Sanctions & Saber Rattling Aren't Stopping It From Importing Russian Oil
Russia is United States 4th biggest oil supplier
This article originally appeared at SRSrocco Report
Americans would be quite surprised to know that even with all the U.S. Government sanctions and threats of war with Russia, we still import a significant amount of petroleum from the former communist country. How much petroleum does the United States import from Russia? Actually, a lot more when we focus on net imports.
While the U.S. imports more oil from certain countries, we also export finished products in return. For example in January, the U.S. imported 831,000 barrels per day (bd) of crude oil and petroleum from Mexico, but also exported 787,000 bd of petroleum products for a net import of only 44,000 bd.
So, what amount of net crude oil and petroleum did the U.S. import from Russia during January? Look at the chart below:
As it turns out, Russia is the U.S. second largest non-OPEC source of net petroleum products in the month of January. As we can see, Canada is the largest at 2.9 million barrels per day, Russia at 389,000 bd, Colombia 264,000 bd, Chad 93,000 bd and Mexico at 44,000 bd.
If we include OPEC countries net petroleum imports, Russia ranks 4th:
Canada = 2,950,000 bd
Saudi Arabia = 816,000 bd
Russia = 389,000 bd
Of the 4,825,000 bd of net U.S. crude oil and petroleum product imports in January, Russia’s 389,000 bd accounted for 8% of the total. When I did the research, I was quite surprised that the U.S. imported this much petroleum from Russia. Which is also why I find articles such as this one quite hilarious:
Ukraine: why the EU should block Russian oil imports
“However, the West’s heaviest economic weapon — a comprehensive embargo on oil imports from Russia — has not yet been employed, and is only sporadically discussed in public.
The West is now intensively debating military-technological and training participation in Ukraine’s defence against action by Russia’s proxies.
But there is little consideration of the entire gamut of available western economic means to end the war.
This is all the more surprising as EU sanctions against oil imports from Russia would be less costly for European countries than is often assumed.
The EU’s large monthly purchases of Russian oil could be replaced by an increase of imports from other oil-exporting countries.”
The individual who wrote this article believes it’s a good idea for the EU- European Union to put pressure on Russia’s involvement in the Ukraine by cutting cut oil purchases. He continues with the following mind numbing wisdom:
I gather the author believes it’s only Putin who is the BOOGEYMAN in this Ukrainian situation. Furthermore, does he realize the U.S. still imports a nice chunk of its petroleum from the Russian Bear?? For some strange reason, the West seems to be suffering from serious BRAIN DAMAGE. While propaganda is taking place on both sides, it seems as if the West is dishing out a great deal more BS than Russia.
I make it an effort not to chat with people on this issue because they simply regurgitate what they hear or read from the MSM. According to information from the weekly John Batchelor-Prof Stephen Cohen interviews on Russia found on TFmetalsReport, Putin has an 86% approval rating by its citizens while Obama comes in at 45%.
Some may think those high Putin approval ratings are manipulated. However, the west also does polls in Russia and comes up with roughly the same approval ratings.
That being said, I don’t like to get into a political debate because it isn’t based on sound REASON or LOGIC. It’s based upon the misinformation, garbage or propaganda the MSM puts out on a daily basis. You cannot debate a person who is brainwashed in this fashion.
This is the world we live in today…. total and complete BULL EXCREMENT. Believe me you, I am not anti-American. I am just anti-BS.
So, there you have it. I thought my readers would find this information quite interesting. Nothing like the U.S. TALKING OUT OF BOTH SIDES OF ITS MOUTH to make ya feel right at home. We are living in interesting times. The amount of volatility in the markets is increasing and I fear the pressures will get so great, we will finally have our GREAT UNRAVELING sooner rather than later.
If you think you are smarter than the markets and are holding onto your U.S. Dollars, U.S. Treasuries, 401k, IRA, CD’s, or any other Wall Street issued paper garbage, waiting for the perfect time to get into physical gold and silver…. sorry, YOU AIN’T. The folks in charge of the pulling the strings already know what’s coming and when, and you and I aren’t including in that group.
For all those who missed out on the precious metal lifeboat, I promise not to say… I TOLD YOU SO.
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