Here are some excerpts from the article. There are also some graphs at the link.
"Most of Russia's oil goes to Europe and Asia. But the key here is to think about the oil supply globally, rather than the US specifically. The commodities world is a heavily interconnected one, and oil is priced through a global market. So what happens in one area of the world can affect another...
...it's true that very little of that Russian supply goes to the United States — just 90,000 barrels of crude oil per day in December, according to the most recent US government statistics. In 2021, by contrast, Europe got 60% of Russia's oil exports and China got 20%. But remember that oil is bought and shipped around the world through a global commodities market. So in that sense it doesn't really matter who specifically is getting crunched by the loss of Russian oil, because lower supply affects those global prices no matter what.
... if Europe buys less Russian oil, it will have to replace it with oil from somewhere else — perhaps from the powerful Saudi Arabia-led Organization of the Petroleum Exporting Countries. That increase in demand for OPEC oil will send its crude prices higher. And guess who else buys hundreds of millions of barrels of OPEC oil? You guessed it: the United States.
How much crude oil does the United States import from Russia? Russia ranked ninth among the top 10 countries that the United States relies on for crude oil imports. In December 2021, the US imported 90,000 barrels per day from Russia."
https://www.cnn.com/2022/03/12/energy/us-gas-prices-russia-oil/index.html
"Most of Russia's oil goes to Europe and Asia. But the key here is to think about the oil supply globally, rather than the US specifically. The commodities world is a heavily interconnected one, and oil is priced through a global market. So what happens in one area of the world can affect another...
...it's true that very little of that Russian supply goes to the United States — just 90,000 barrels of crude oil per day in December, according to the most recent US government statistics. In 2021, by contrast, Europe got 60% of Russia's oil exports and China got 20%. But remember that oil is bought and shipped around the world through a global commodities market. So in that sense it doesn't really matter who specifically is getting crunched by the loss of Russian oil, because lower supply affects those global prices no matter what.
... if Europe buys less Russian oil, it will have to replace it with oil from somewhere else — perhaps from the powerful Saudi Arabia-led Organization of the Petroleum Exporting Countries. That increase in demand for OPEC oil will send its crude prices higher. And guess who else buys hundreds of millions of barrels of OPEC oil? You guessed it: the United States.
How much crude oil does the United States import from Russia? Russia ranked ninth among the top 10 countries that the United States relies on for crude oil imports. In December 2021, the US imported 90,000 barrels per day from Russia."
https://www.cnn.com/2022/03/12/energy/us-gas-prices-russia-oil/index.html
But if a mouse farts somewhere in Africa when a Republican is in office you can bet your ass its because the REPUBLICAN CAUSED IT. People grow weary of the bullshit. Not talking about YOU personally mind you,....just the SILLY game that gets played.
