About that Russian Oil Boycott Thingy…

While no one was paying attention, the Russian Oil Boycott has been a total failure.

Needless to say, Putin is laughing all the way to the bank.

Let me explain.

Western nations – led by Stinky Joe – thought they would put the screws to Russia and cripple their economy by saying “NO” to Russian oil.

But their needless sanctions have backfired and Putin is now selling more oil at a higher price point.

AND Europe can’t stop buy Russian oil because they’re dependent on it.

Cue up:  The European Council openly laughing at Donald Trump in 2017 when he warned them why they shouldn’t be dependent on Russian oil.

Ironically (or NOT) the EU remained the largest importer of Russian oil despite a sharp reduction in shipments.

And the IEA reported that Russian oil exports rose over 50% YoY during the first four months of the year.

Russian Oil Boycott Was Doomed

All of those pompous a&&holes – screaming how they would bring Russia to its knees – by mandating sanctions should all be thrown out of office for accelerating the death of their countries’ economies.

Last week alone oil jumped from $92 per barrel to $122.

So, their boycott strategy was doomed from the start.

And it was mostly because they’re a bunch of amateur checker players trying to topple a chess master.

As a result, the boycott has completely backfired on the West and has helped strengthen the Russian economy.

Take a quick trip down memory lane back to 2008 when oil was $147 per barrel.

At that time, the average price of gasoline in America hovered around $4.50.

Do the math.

At $122 per barrel, we’re already seeing average gas prices hovering above $5.15.

So, how much will gas cost us when we get back to the all-time high of $147 per barrel?

Enquiring minds want to know.

Meanwhile, as everyone hates on energy stocks, their earnings are going through the roof…and so is their stock price.

Turbulent Times bring about chaos.

But they also offer opportunities for those with “ears to hear.”

Learn about those opportunities in the June edition of “…In Plain English” (HERE).

Share this with a friend…especially if they hate paying over $100 to fill their tank.

They’ll thank YOU later.

At Financial$Matter We’re Not Just About Finance.

We Simply Use Finance to give you hope.

https://www.financialsmatter.com/category/in-plain-english/

And Speaking of Distractions…