US President Donald Trump said Friday that Russia had agreed to immediately supply more than 300,000 tonnes of diesel to US and global markets in an effort to cut fuel prices before November’s midterm elections. The move marks a stunning change of policy after the US and its allies hit Russia with waves of sanctions over its invasion of Ukraine.
I commented on this in another thread, but it fits also here:
Either Putin must be very desperate to discuss this with his secretary in the White House or there is something I don’t see.
Trump reportedly agreed with Putin to “immediately” supply more than 0.3m tons of diesel fuel into the U.S. and global markets, another 0.5m tons in November, followed by another 1m ton and then an additional 3m tons of diesel “within a short period of time,” based on the condition of Russian refineries.
That’s a total of 4,8m tons over the next months. Russia measures diesel quantities in tons, so the 4.8m tons are equal to a bit more than 35.5m barrels, the measure used by world markets.
Even if this agreement materializes - which is everything but sure imho - it must be a complete nothing burger.
Refineries in the U.S. are churning out some four to five million barrels every day, according to EIA, the U.S. Energy Information Administration. The majority of this volume - around 3.6m barrels - is consumed domestically, the rest is exported.
So even if Russia is able to deliver this volume of 35m barrels, the volume is equivalent to what is consumed domestically in the U.S. within less than just 10 days. In the world market this volume is next to nothing.
This must be a nothing burger imo. But I am not an expert for oil markets, so maybe someone with more expertise can give me a hint.
My guess is that this is state level money and reputation laundering. Putin needs money/resources to keep his war going. Trump needs lower prices on the diesel pumps.
If the USA actually buys from Russia, I wonder what currency they will use.
I don’t know whether this launders Putin’s reputation, but it won’t lower prices. There may be some nervous market volatility for a day or two that looks to bring the price slightly down, but it won’t last for longer, definitely not until the U.S. midterms (3 November) imo.
Not Putin’s reputation but Trump’s. Elections are coming in the US and people are pissed about fuel prices. Trump thinks this makes it look like he’s is doing something about it.
I know, but this won’t help imo. The price effect will be in a range so low that it is not measurable.
It won’t help prices, but it doesn’t have to. It will generate talking points and sound bites, and as we’ve all seen, that’s all a frightening number of Americans seem to need to be convinced to vote for a con man.
But who knows? Maybe the kayfabe is finally broken?
Not an expert and never thought on this, before reading your comment.
But this at least signifies once again that the American president is but a Russian bitch, who works for Russia not for the US. I wonder what American citizens think about that. Them being basically ruled by Russia, a failed state, which is rather a terrorist state run by mafia. A wonderful place of 250 years of democracy. Well, partially ruled, at least. I have no idea what part of the congress is bought by Russia and serves their interests. I hope it’s a minority, otherwise that’s just quite a miserable state to find yourself in.
Trump’s getting booed and heckled even red states. I think many who voted for him have finally become disillusioned with him.
The real problem now is how much damage he can do in his lame duck phase, given how much he’s already done to undermine checks and balances against the executive. My biggest fear is that the Dems will win big in the midterms but still not stop Trump from fucking everything up.
The US reneging on their sanctions would suggest the US is desperate no? I mean they desperately need to refill the reserves if they want a rematch in west asia and the zionists might kick it off themselves if he isn’t fast enough. They were sitting at 415 mill. barrels in feb now at just below 300, 35 mill diesel would go a ways to refill by not having refineries use crude. Especially since they have now hijacked venezuelas oil, they’re most likely prepping for another hormuz crisis.
Also it can be used to boost the price of other oil products. Since you have to refine less, the supply of the other products shrinks.
Fun math time!
The US, by itself, uses roughly 3.83 million barrels of diesel per day. ( https://www.statista.com/statistics/1320482/monthly-us-diesel-consumption/ )There are ~157 liters per barrel, so the US uses ~600 million liters per day.
There are roughly 1176 liters per ton.
The vaunted 300 000 tons is 352 million liters. A little more than half a day’s usage.
This is nothing.
Also, bomb the ports and refineries.
They did the Maths! 👏 Thanks for saving me the time.
Wait is it tonnes, liters, or barrels? Barrels are only 55gal≈250L apiece
Tons. It is tons.
Sounds like a great time to strike some Russian diesel refineries.
Bomb the fuck out of those refineries. Slava Ukraine
Either Slava Ukraini or Glory to Ukraine, this mishmash doesn’t make much sense.
I think some Europeans (certainly in my country of the UK) are still quite naive about Trump. Maybe they think “sure, Trump can be a bad person to some countries, but he’d never be a bad person to MY country”
One day, whoever is in the White House will choose to act immorally towards a particular European country (whether it’s Ukraine, or the UK, or Poland, or Finland, or whoever) and that European country, on its own, won’t be able to do much about it
TLDR: If Europe unites, it protects Europe from potentially hostile big powers, such as the US, China, Russia. A big entity like the EU has more leverage to say “no” than any individual EU country does.
Ukraine needs a few more long range missiles so they can blow up those refineries and fuel depos.
Freezing Russians and paralyzed front lines because of lack of fuel and getting ground down to mulch, while Putin sells off diesel to the Americans might just add that extra straw to the camel’s back.
It’s unlikely, but crazier things have happened.
But you assume that Putin had any diesel to ship, and that he is a reliable trade partner. He could just not ship anything, because In 3 days the senile man will have forgotten all about it and cause the next shitsorm.
US President Donald Trump said Friday that
You can stop reading right there. 47 is full of shit, and we need to stop taking anything he says serious unless an adult has confirmed it and there’s corroborating evidence for it.
What a fucking loser
stunning change of policy
Yeah. Shocking.
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