Comments by "Persona" (@ArawnOfAnnwn) on "Can the Price of Oil Threaten the World Economy?" video.

@gressvikgutten First off, this video gives off a misleading impression of relations between OPEC and Russia. There is no big falling out between them, the Russians made their announcement in concert with OPEC and no one protested. Also OPEC reducing production would only benefit Russia. The average price of Russian oil in India for instance is already above the price cap as they just use their own ships. It is however still at a discount relative to Saudi oil. If OPEC were to raise its price, then Russia would be able to raise its price too while still being the cheaper option. And there'd be nothing some sort of 'buyer's club', if such a thing were ever to eventuate between such bitter enemies, could do about it. They'd buy more Russian oil.
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@qwertyqwerty-zi6dr Guess who already dominates the renewables sector? 😬
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@6372-s4k OPEC+ cohesion is high. Despite what the video seems to suggest, Russia announced its decision in concert with them. Meanwhile the renewables industry is dominated by China, so that only benefits them. Lastly most of those other countries you mentioned are themselves under US sanctions that they refuse to abandon.
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Employment is not strong. Unemployment statistics are highly misleading cos they don't count so-called 'discouraged workers'. The only 'unemployed' in that statistic are those who are briefly between jobs.
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It's not just strategic reserves, they're literally selling excess Russian oil back to the west, at a markup of course.
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@buckwagers That's all you can do? Snarky names?
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EV huh? Guess who already dominates the EV market? 😏
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