Comments by "Paul Aiello" (@paul1979uk2000) on "Who REALLY Controls US Gas Prices?" video.
-
Yep, it's not that simply, just like it's not as simply as people saying EU countries should stop buying Russia's gas and oil.
What would likely happen if the EU did what many suggest is that gas prices would shoot up across the world and it would be everyone paying a high price, especially the poorer countries and middle classes of the world, hence why gas and oil prices are shooting up already in a lot of countries that on the surface shouldn't be affected by what's going on in the EU, Russia and Ukraine but that's just not how the world works, we're all interconnected and that causes ripple effects on us all, especially for big players like the EU, US and China.
So as much as I would love for the EU to ban Russia's gas, oil and coal, I hope people around the world know what they will do for living standards and if they are willing to pay that price because I get a feeling that many think it won't impact them.
The truth is, what's needed is time, time to adapt and we should consider ourselves lucky that summer is around the corner so that should ease a lot of the pressure on that and buy us more time to adapt and with any luck, before winter sets in, we should all be in a better position, but yeah, the EU and US have a lot of work to do over the summer.
3