Comments by "M S" (@MS-ii1sv) on "Economic Impact of Russian Oil" video.

  1. ​ @EconLessons The approach to use is to increase your own production and hurt Russia's state budget like Trump was doing. Biden bled the SPR dry and it did impact the price for half a year but it's not an option anymore. For whatever reason the US and Canada are hostile to oil and gas production so Russia is continuing to benefit. The idea that it's at all possible to completely stop Russian oil production is ridiculous to begin with so you end up with token attacks that raise the price and Russia ends up making more money with less production.
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  2. ​ @EconLessons Prices are set at the margins. Take 10% of the oil off the market and the price will skyrocket. It won't go up by 10%. You're an economist?
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  3. Biden tried to get them to raise production and they basically told him to piss off.
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