Comments by "R136a1" (@HR_8035_YEA) on "When Insurance Gets Exciting: Global Shipping and Russian Oil" video.

  1. If one of these oil ships does indeed sink, how will the shipping company and the countries affected by the oil spill get the insurance payout? It will be under Russian jurisdiction I presume. So even if the Russian insurer has a trillion dollars, I don't think that eliminates a key part of the risk. Russia is the primary risk and it is a rogue state now. They do not adhere to any international laws or conventions that they don't wish to. My bet is no-one would ever get an insurance payout. How could port authorities allow a ship to dock with that sort of risk.
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  2. In the world that Russia and India want, where might is right, what could they do? The US Navy is vastly superior to those nations. So all they would have to do is place one Carrier Group on either side of the Suez Canal and refuse to let sanctions busting ships through. I can imagine there will be lots of squealing, but not a whole lot more.
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  3.  @protorhinocerator142  Who will take the risk? I don't think there will be many takers.
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  4. If there's another Exxonn-Valdez type incident and the clean up cost is $US20 billion, how will the insurer be forced to pay out, no matter how much money they have? You're going to rely on a Russian court? Russia's lack of rule of law makes it a massive jurisdictional risk. How do you think the shareholders of shipping companies will react to the Board of Directors and Management taking on such a risk? In some countries taking such a risk may expose the Directors to personal liability.
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  5.  @prst99  The US is used to dealing with those things. What would India do, ban trade with the US. Go ahead. Do it. Include Europe and 70% of their exports are up in smoke. Russia, China and India want to change the world order. But they haven't fully considered how badly it could go for them. Especially China and India. They are far more vulnerable than Russia.
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  6.  @devpav9880  I don't think the West think Russians are subhuman. But they have a fascist, dictator in charge and he an absolute piece of excrement.
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  7.  @WalterBurton  My understanding of what Peter was arguing is that this is going to happen slowly over a period of several years. If he predicted it to happen by June, 2022, please provide a link or the title of that video.
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  8.  @WalterBurton  You must be replying to someone else as I said nothing about Russian storage capacity. Think long term, like 5-10 years. The obvious outcome is a Russian collapse. Read some history about why and how the USSR collapsed. You will know what lies ahead in the future for Russia. Enjoy the collapse. I know I will.
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  9.  @WalterBurton  Don't reply to me with crap someone else posted. If you're triggered somehow, deal with it.
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  10.  @skoopsro7656  That's exactly what I was thinking. "Accidents" are bound to happen.
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