2 years ago

Baker & O'Brien reported on the complex changes that have happened around the world when the EU reduced the amount of its petroleum products and natural gas that they imported from Russia.
https://bakerobrien.com/article/now-its-gone-gone-gone-u-s-crude-oil-helps-replace-russian-barrels-in-europe
https://bakerobrien.com/article/now-its-gone-gone-gone-part-2-to-replace-russian-products-europe-turns-to-asia-mideast

However, recent reports suggest that the EU's attempts to decrease their reliance on Russian imports through sanctions and price caps have been largely ineffective.

According to David Blackmon & Reuters, BRICS member countries have been buying up as much Russian oil as possible. But what happens to the oil that isn't being shipped to the EU?
https://blackmon.substack.com/p/tuesdays-energy-absurdity-russian?r=jeed7&utm_campaign=post&utm_medium=web

Some speculate that the unused oil is sold to countries that import from various sources, where it is mixed with crude from other countries and then sold to the EU. This means that the EU may unknowingly be buying Russian crude and other petroleum products.

This highlights the high demand for oil and natural gas, despite the growth of wind turbines, solar panels, batteries, and EVs. In fact, the demand for fossil fuels may be increasing as these alternative energy sources rely on fossil fuels during production, maintenance, and decommissioning.

It's clear that the EU's petroleum imports are complex, and the demand for energy sources continues to be high. As we move forward, it's important to consider the complexities of our energy sources and their impact on the world.

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