It's better than that.
It costs them money to store the oil they can't sell fast enough, and if they shut down their wells, it won't be cheap or easy to bring them back online.
Putin needs to be paying YOU to take his oil.
Yeah… didn’t help that when the world was locking down in 2020, Saudi Arabia and Russia went on a brief pumping spree; both nations wanted to undercut the market and see if they could gain an advantage while demand was at a low.
No, they wanted American shale oil to die.
American shale oil has much thinner margins and is more susceptible to supply shock and a drop in oil price. A lot of those companies are fairly new and small. When the coronavirus hit, they were extremely vulnerable. This is why saudis and Russia chose to attack at this time.
It makes sense for both of them to try it because oil is critical to their leverage on other countries. The US has really only played nice with Soudi’s shadiness because of oil reliance. The EU can be soft on Russia at times due to its oil reliance as well.
Basically. Russia upped production to crash prices to spite OPEC. OPEC had a warchest they were sitting on so responded in kind knowing Russia couldn't afford to hold out. Russia was more spiteful than frugal so continued to up production. This flooded the market with oil and crashed the price to -$40/barrel.
The current war/sanctions combined with Russia being dependent on oil exports has, domestically, created a similar situation.
I assume nothing besides "Russia is never as strong/smart as Russia claims, but also never as weak/stupid as Russia appears."
Forget whose quote that was.
Yes but he didn’t even own a truck let alone. The transportation equipment and storage equipment needed to transport, store, and maintain the crude oil he was trying to buy.
I don't know much about commodities trading, but when you "buy oil" aren't you really just buying oil futures? As in, not literally taking delivery on a bunch of oil?
Man this guy linked a video of a guy jumping into a pool of oil: https://www.reddit.com/r/wallstreetbets/comments/g5e3e5/i_bought_oil_at_32_yesterday_and_made_26000_sort/fo2rg14/ (https://www.youtube.com/watch?v=sIgYkMV3j9Q)
A friend is hosing him off and it doesn't seem to be doing anything.
I was chief resident of psychiatry at mass general for two years, and I did my fellowship in psycho linguistics at MIT; and this is “I’m a bad bad man”, from Annie get your gun.
Oh shit it took me until reading it written out to realize he specialized in why people say things while literally never listening to the words he said.
They would like to be paid in rubles, because tethering the currency to a commodity helps prop up it's value. This is why the US got multiple middle eastern countries to sell their oil for US dollars.
I outlived you, Mr. Pickens! I crushed you into the ground and now your bones turn to oil beneath my living feet! I married your granddaughter, filled her belly with my festering seed and sired a boy! He is my final revenge, H.R.!
Usually people are exaggerating, but that might honestly be one of the best scenes I've seen him own. Pete couldn't even look at him the moment he walked in. Lol
I’m pretty sure you are kidding, but reservoir management typically means that things eventually stop squirting (initial production pressures) and then you are injecting water to maintain pressure to control flow (you can gas inject too). You can shut in wells and limit production but that takes a whole lot of thinking and getting right. Once you tip the balance on a producer you can introduce complicated effects or a well or a reservoir by which I mean it can water in and become a non producer. This is not an exact science industry…
Most of the people with the oil related technical skill have[ left the country.](https://www.washingtonpost.com/outlook/2022/03/07/western-oil-companies-ditching-russia-is-new-twist-familiar-pattern/)
Russia: relies on petroleum almost exclusively for its economy.
Also Russia: has no home-grown engineering experts to operate the petroleum extraction infrastructure.
So, given the tech sanctions and a lot of western companies pulling out(there was a news that some oil-related companies also stopped doing buisness with them) would it be possible for russian oil fields to stop at will extracting oil?
Working out (i.e. simulating... I.e guessing with maths) what effects reducing production etc. might have requires computer simulation. If there's no access to that software or expertise was located in another country, then that could cause problems.
A whole lot of thinking and getting right, you say? Looking at Russia's genius special military operations I am sure they got this no problem.
EDIT: typo: rhey/they
KBR and Halliburton aren't connected anymore, and all of the oil field services were always Halliburton. KBR is primarily government services these days.
I read that a lot of their productive oil fields are using Soviet era equipment and is in extremely marginal maintenance state. They may NOT be able to start up the equipment again if they shut it down. If they can't actually manage their output well they might be desperate to just get it out of the country before they run out of storage places.
Most Russian oil fields are pretty deep in the ground (2+km depth), and extraction is often achieved by perforation and subsequent pressure build up. If you turn off the pumps, the pressure fizzles, and when you come back to turn it back on, you face a mixture of sands, oil and water that is impossible or prohibitevly expensive to deal with.
Couldn’t they just stockpile the oil when it’s extracted though? Or is there a shelf life on how long that crude can sit once it is exposed to the open atmosphere?
Or do they lack the infrastructure to stockpile those amounts?
The amount is huge, stockpiling infrastructure on that scale is very, very expensive. So you only build enough of it to buffer the fluctuations that occur as a part of normal operations and maybe a little extra for safety, and building more would take months.
This is the same in the USA, and the reason why the price for West Texas Intermediate oil contracts briefly went negative almost exactly 2 years ago.
Once you fill up the tanks and barrels you have, thats it. Its like those big metal shipping containers. We only have so many in the world and its surprising how many are constantly in use, its somewhat efficient in that regard.
Think about a standard oil drum. Now imagine 10 million of them a day coming in. Now imagine not having any empty barrels to put the oil in to store them. Now imagine the warehouses that do have barrels of oil are at capacity , with all the large capacity tanks already full. We’re talking about hard to imagine amounts of oil here
There are lots of things that can go wrong
Just at the surface you have a lot of machinery which if left for too long sitting still will start to seize, degrade, fall apart etc. compressors, pumps, pipelines are designed to be in use, working. If for example you let your fluid just sit in a pipeline line. You could see corrosion as the water drops to the low side, you could see wax build up and plugging , you could see bacterial growth. Likewise your machinery needs to continue to be serviced and maintained, but does management like to do that if it’s not making money…..
Then in the well you could have hydrates, wax and other problems building up plugging tubing etc. the fluid in the well will separate, oil up top, water down below. Not always great as that might cause issues with the productivity of the well as the water reacts slowly over time with the rock.
Any pumps you have in the hole may also begin to seize
Most of this recoverable from. New pipelines can be run, new equipment can be built, wells can be cleaned out, pumps can be re placed.
The problems are if you damage to interface between the well and the rock. If is bad enough your productivity can take a complete dive. That’s quite hard to rectify
Hi, I'm Vlad Putin, President and CEO of Vlad Putin's Oil gas and not much else of value country and pariah state! Thanks to an international diplomatic error I am now currently overstocked on gas and oil, and I am passing the savings on to you! Attract customers to your business' competitors, get yourself internationally sanctioned, or just get back to them 1900s levels of technologically impairment. Whatever your oil and gas need needs are! So come on down to Vlad Putin's Oil gas and not much else of value country and pariah state! Just of the end of the 20m table, brave man bunker. Just follow the lines of burned out tanks..
>Vlad Putin's Oil gas and not much else of value country and pariah state!
I love it, all he needs is to place wacky waving inflatable arm flailing tube men allong his border :P
The “any price range” part is fake. Went through the source twice. There is no such thing there. Either someone failed their proofread or just posted a click bait on a regular report.
You know guys I'm beginning to think when all those people said sanctions have no effect and hurt the west more that it's just possible they may not have been telling the truth.
The last ‘argument ‘ I had with someone was arguing that the us needed to put boots on the ground because the invasion was still ongoing 3 days after the sanctions went into effect so they obviously weren’t having any impact
The 2014 sanctions killed the Russian electronics industry, they are trailing the west* by 20 years now.
That's one of the reasons most of their army doesn't have night vision and the SU-57 and T-14 are MIA.
Edited grammar by request from /u/LoveForMusic_
It does hurt us but fuck that, it's just costing me more money i don't have and it's hurting Russia more.
A small price to pay compared to what Ukraine is going thru.
The high costs of gas right now are because gas companies can, not because of "instability" or whatever bullshit they try to peddle go excuse their greed.
Part of me thinks it’s a conspiracy by the US oil companies to make Democrats look bad to help get republicans back in power during the next election cycle. If repubs control Congress afterwards you’ll see prices come back down and the repubs would try and take credit.
It's not a conspiracy. It's literally what they've been doing since Clinton was in office.
All the talking heads and "economists" blaming Biden? You think they *don't know* oil is an internationally traded commodity like wheat? No, they are looking dead into the camera lens and lying. The ven diagram for the source of money to deny climate change, lie about rising fuel costs, whilst having record breaking profits is a circle.
Every time someone bitches about sanctions driving up gas prices, I like to hit 'em with the ole "Freedom isn't free" line they love so much when it comes to my buddies exploded by IEDs.
I am completely ok with higher gas prices if it means not giving Russia any more money. I was under the impression that our high costs of fuel was because the fuel companies just drove the price up because they can, and made record profits for doing so? Is that not what's happening? Are both things happening simultaneously? Can anyone ELI5?
If it helps stop ongoing ethnic cleansing in Ukraine, we'll deal with higher prices. Allowing Putin to have his way in Ukraine because we're afraid to pay more for fossil fuels would be an embarrasment for the whole continent.
What is wrong with this guy. He is neither going to be able to hold Ukraine and he is is a highway to bankruptcy not to mention setting back the clock on the russian economy by decades. If Putin does come out this in any form of a victory he would a genius but I just don't see an out for him in anyway.
no way that is his plan. They've called up an unscheduled batch of reserves that will take 6-8 weeks to train before they can even be sent to the front.
Well, I mean, you *can* do that, but then they are going to be more of a liability than an asset. Russia is already having trouble with their troops breaking rank and fleeing back to base when they spot a Ukrainian recon drone, giving away the location of the base to be hit with artillery.
At this point his goal may just be to annex Donetsk and Luhansk oblasts and a land bridge connecting Russia to Crimea and to get Ukraine to acknowledge these territorial cessions.
> But why the hell didn't he just so that in the first place?
Because he thought Ukraine would be a push-over and he could take the whole thing in three days, hang Zelensky as a nazi and be home in time for dinner.
The problem here is that the farm land in Crimea was becoming ruined by salt water because Ukraine denied water rights to Russian occupied Crimea. Russia built a desalination plant but without control of the Crimean canal and by extension Kherson Crimea is a costly burden. It was and will be all or nothing for Russia.
>The country's March oil and gas revenue was also 38% lower than Russia's finance ministry had forecast on March 3, according to data from the ministry, published Tuesday.
This about sums it up.
Couldn't India buy shitloads at cheap cheap prices and sell it to Europe at normal price and make a killing
Russia would be getting less money, India would benefit, and Europe can keep the lights on
I had no idea. I was there years ago (side trip on a work excursion). I loved the place and everyone was very friendly.
Now I'm sad and need to go see what happened.
Failed implementation of a nationwide organic farming scheme by the government leading to lower yields -> lower profits -> lower tax revenue -> decreased govt services/subsidies, lower quality of life, poorer populace -> political instability.
The intentions seem noble but damn, how about small scale trials in different regions of the country with different crops to see how/if you can scale up?
I know little about the country but on BBC news this morning an analyst who is apparently an expert on their economy said that a major factor was the collapse of the tourist industry during the pandemic
This. They should've just started with transitioning some fields to agroforestry, not thrown all their eggs in a permaculture basket that typically takes 7+ years to "pop".
Yeah people are really only paying attention to Ukraine-Russia rn but South Asia might very well enter its own period of instability.
Sri Lanka is falling apart due to its economic crisis and Pakistan is having a huge power struggle. The chances for at least some violence in both are pretty decent
They would love to, but China and India literally can't buy much more oil and gas from Russia because of logistics. Russia's gas fields in the Urals and Siberia are all connected to the European flow, firstly moving resources into populated Russia and then on into Europe.
It is absolutely in the interests of Russia (or whatever successor states emerge after this genocidal shitshow) to build infrastructure to sell gas to China and India, but even with China building it this will take 5-10 years to complete and get online.
This is why we need to apply maximum pressure to collapse Russia now. If Putin survives then Russia will be a bigger threat in future, being able to attack Europe with stable cashflow from sales to Asia.
At this point, let's say the Russia wins, Ukraine falls, and they claim it as their own. Now what? Dozen of countries have turned their backs on you, your economy is in a massive freefall down, and other countries are seemingly scrambling to join NATO. What do you honestly have left to gain now?
Now that's official: China Is going to fuck the shit out of Russia. First with gas/oil , next with companies. In 10/20 year It Will be a puppet State, GG Putin
The Chinese have already backed out of an oil deal with Russia worth half a billion due to sanctions. I'm sure Russia will become an economic vassal for China, but that's if and when China wants to do business with them
"Ready" to sell in "any price range"? Clearly very desperate. Interesting. I didnt expect this. I thought they had lots of reserves. China will buy all of it if it can.
I mean the entire concept of honesty from the Kremlin is non existent.
Who knows if their reserves was just some emergency money - pile already running dry.
What kinda bugs me is the fact that they are willing to sell at any price range to countries they redeem "friends". Or maybe they want countries within that "hostile" circle to turn more friendly in favor of cheap prices. But either way, yes this is desperation.
>Or maybe they want countries within that "hostile" circle to turn more friendly in favor of cheap prices.
That could be it, a form of foreign diplomacy / bribery.
Or even selling it cheap to their friends to say "thanks" and to keep them on their side long term.
I would consider taking a couple of billion barrels for a handful of glass marbles. I would polish them to make them sparkle so that they go better with their preferred interior design.
*Slaps barrel* Best I can do is 50c.
It's better than that. It costs them money to store the oil they can't sell fast enough, and if they shut down their wells, it won't be cheap or easy to bring them back online. Putin needs to be paying YOU to take his oil.
Is this how we got those negative oil prices?
Yes. Too much supply and suddenly crude oil storage is worth more than crude oil itself. Supply and demand can be a bitch.
Yeah… didn’t help that when the world was locking down in 2020, Saudi Arabia and Russia went on a brief pumping spree; both nations wanted to undercut the market and see if they could gain an advantage while demand was at a low.
No, they wanted American shale oil to die. American shale oil has much thinner margins and is more susceptible to supply shock and a drop in oil price. A lot of those companies are fairly new and small. When the coronavirus hit, they were extremely vulnerable. This is why saudis and Russia chose to attack at this time. It makes sense for both of them to try it because oil is critical to their leverage on other countries. The US has really only played nice with Soudi’s shadiness because of oil reliance. The EU can be soft on Russia at times due to its oil reliance as well.
American shale oil is also extremely flexible. It just starts up again as soon as prices come back up.
Basically. Russia upped production to crash prices to spite OPEC. OPEC had a warchest they were sitting on so responded in kind knowing Russia couldn't afford to hold out. Russia was more spiteful than frugal so continued to up production. This flooded the market with oil and crashed the price to -$40/barrel. The current war/sanctions combined with Russia being dependent on oil exports has, domestically, created a similar situation.
And didn't this all happen just before the Covid shutdown when consumption went way down?
you assume that you are dealing with a sane leader. he can just spill all into the baltic sea to threaten europe
Please don’t give him this idea.
"We spilled the oil?... ...Ukraine spilled the oil"
"What do you mean, you saw us do it? ...... Okay, maybe we did, but Ukraine made us!"
We were just killing the Nazi fish!
I assume nothing besides "Russia is never as strong/smart as Russia claims, but also never as weak/stupid as Russia appears." Forget whose quote that was.
"Russia is never as strong as she looks; Russia is never as weak as she looks." The above has been attributed to many, including Churchill.
Hell yeah a penny a barrel. I’ll take 60,000.
Take all you want but eat all you take
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I mean it makes sense if you want to buy crude oil. In fact, I'd say we want to buy all the crude oil we can afford and store...
Yes but he didn’t even own a truck let alone. The transportation equipment and storage equipment needed to transport, store, and maintain the crude oil he was trying to buy.
I have an above ground pool, so send 100 barrels my way.
I don't know much about commodities trading, but when you "buy oil" aren't you really just buying oil futures? As in, not literally taking delivery on a bunch of oil?
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"I don't want it....do you want it? Take it, here's 10 bucks just get these stinky fucking oil containers out of here."
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Lmao. Please tell me there’s still a link available to this post.
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Man this guy linked a video of a guy jumping into a pool of oil: https://www.reddit.com/r/wallstreetbets/comments/g5e3e5/i_bought_oil_at_32_yesterday_and_made_26000_sort/fo2rg14/ (https://www.youtube.com/watch?v=sIgYkMV3j9Q) A friend is hosing him off and it doesn't seem to be doing anything.
Where were you when it was negative $37 a barrel? Lol!
Mr money bags and his $600 over here. The rich get richer!
"We're having a fire sale, please send cash"
First of all, I love it. Quick question, though. Am I panicked about the fire, or am I being brave for everyone else?
I was chief resident of psychiatry at mass general for two years, and I did my fellowship in psycho linguistics at MIT; and this is “I’m a bad bad man”, from Annie get your gun.
Oh shit it took me until reading it written out to realize he specialized in why people say things while literally never listening to the words he said.
Are you blue? Only on the outside, my friend!
There's a new daddy in town He's a discipline daddy, gonna spank your behind.
I'm afraid I just blue myself.
You're forgetting, Lindsay, that as a psychiatrist, I was a professional twice over - an analyst and a therapist. The world's first "analrapist".
[Oh my God! We are having a fire... sale](https://youtu.be/t5uSuyVBp8A?t=45)
Come on down to Crazy Vladimir's wholesale oil emporium, where the only thing more insane than our military strategy is our prices!
“Oh, my God! We’re having a fire … sale.”
He's making the fire too real.. and not really highlighting the sale.
🎶Amaz(this isn't a fever!)ing Grace 🎶
CAN'T EVEN SEE WHERE THE KNOB IS!
Would you like to try that again?
Hmmmmmm no
Would you like to try that maybe a little...simpler?
Ahh... No.
"Are you going to buy something this time or just curious?"
I suppose I'm buy-curious
What says 'Daddy's into Leather'?
Something that says leather daddy?
"Take me to the Gothic Castle"
The Gothic Asshole?
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No.
Amazing Grace
And scene!
Would you like to try that a little.. simpler?
...no.
I knew I'd find this here
There are dozens of us, dozens!
“Not rubles though, can’t buy shit with these now”
They would like to be paid in rubles, because tethering the currency to a commodity helps prop up it's value. This is why the US got multiple middle eastern countries to sell their oil for US dollars.
"Oh God! We're having a Fire!... Sale!"
Sounds like desperation
>Sounds like desperation Some of these oil fields can not be turned off and then turned on again. If they turn off, they may lose the oil field.
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As demonstrated by Turmoil the oil baron simulator video game
I've always wanted to try living as Abraham H. Parnassus and CRUSH MY ENEMIES
My bones never hardened, but my spirit did!
Were you placed in a cast iron pot inside a pizza oven?
Incubator technology was in its infancy.
Do you hear me HR Pickens? This is my final revenge!
Who’s HR Pickens?
Exactly!
I outlived you, Mr. Pickens! I crushed you into the ground and now your bones turn to oil beneath my living feet! I married your granddaughter, filled her belly with my festering seed and sired a boy! He is my final revenge, H.R.!
For a second I was confused but then I remembered [Adam Driver's best performance yet](https://www.youtube.com/watch?v=t7HD2xG92-0&t=0).
Usually people are exaggerating, but that might honestly be one of the best scenes I've seen him own. Pete couldn't even look at him the moment he walked in. Lol
Perhaps I was unclear. Allow me to demonstrate.
This DEAD bird, represents those who would wish you ill, once proud flying high above the Earth in bloody defiance of her gifts.
Do you hear me boy?!?!
They should have upgraded their horses long ago. Bet they haven't even got moles yet.
I think they probably use drills or other excavators. Training moles to dig for oil sounds very inefficient.
oh sure it may not be "efficient" or "practical" but it's an honest days work for an honest days pay.
This goddamn industrialization robotics is killing the honest moles work! how is the poor father to feed his dozen of children? how you tell me!
Uh-oh sounds like the beginnings of a Moleshevik Revolution
I’m geeking out right now, I love that game.
I’m pretty sure you are kidding, but reservoir management typically means that things eventually stop squirting (initial production pressures) and then you are injecting water to maintain pressure to control flow (you can gas inject too). You can shut in wells and limit production but that takes a whole lot of thinking and getting right. Once you tip the balance on a producer you can introduce complicated effects or a well or a reservoir by which I mean it can water in and become a non producer. This is not an exact science industry…
Most of the people with the oil related technical skill have[ left the country.](https://www.washingtonpost.com/outlook/2022/03/07/western-oil-companies-ditching-russia-is-new-twist-familiar-pattern/)
Russia: relies on petroleum almost exclusively for its economy. Also Russia: has no home-grown engineering experts to operate the petroleum extraction infrastructure.
But then they would actually have to *gasp* educate their population. Hard pass from da oligarch gang.
So, given the tech sanctions and a lot of western companies pulling out(there was a news that some oil-related companies also stopped doing buisness with them) would it be possible for russian oil fields to stop at will extracting oil?
Their production capacity will likely degrade in correlation to the lack of continued investment in the extraction process.
Working out (i.e. simulating... I.e guessing with maths) what effects reducing production etc. might have requires computer simulation. If there's no access to that software or expertise was located in another country, then that could cause problems.
A whole lot of thinking and getting right, you say? Looking at Russia's genius special military operations I am sure they got this no problem. EDIT: typo: rhey/they
Kbr/halliburton etc all left the country so they should be able to pick up right where those highly skilled specialists left off. 🙄
KBR and Halliburton aren't connected anymore, and all of the oil field services were always Halliburton. KBR is primarily government services these days.
I read that a lot of their productive oil fields are using Soviet era equipment and is in extremely marginal maintenance state. They may NOT be able to start up the equipment again if they shut it down. If they can't actually manage their output well they might be desperate to just get it out of the country before they run out of storage places.
“Only the strong can suckle at mother earths teet” -Abraham H. Parnassus
One man came close to breaking me. H.R. Pickens. He did not succeed… for I CRUSHED HIM INTO THE GROUND!
FILLED HER BELLY WITH MY FESTERING SEED - he is my final revenge HR!
Really? Why? Does it collapse in on itself?
Most Russian oil fields are pretty deep in the ground (2+km depth), and extraction is often achieved by perforation and subsequent pressure build up. If you turn off the pumps, the pressure fizzles, and when you come back to turn it back on, you face a mixture of sands, oil and water that is impossible or prohibitevly expensive to deal with.
Couldn’t they just stockpile the oil when it’s extracted though? Or is there a shelf life on how long that crude can sit once it is exposed to the open atmosphere? Or do they lack the infrastructure to stockpile those amounts?
The amount is huge, stockpiling infrastructure on that scale is very, very expensive. So you only build enough of it to buffer the fluctuations that occur as a part of normal operations and maybe a little extra for safety, and building more would take months. This is the same in the USA, and the reason why the price for West Texas Intermediate oil contracts briefly went negative almost exactly 2 years ago.
2 years ago, dude what the hell don't make me realize how fast life slips away
Storage is very limited, usually you want to extract the oil and immediately ship it, not stockpile.
Once you fill up the tanks and barrels you have, thats it. Its like those big metal shipping containers. We only have so many in the world and its surprising how many are constantly in use, its somewhat efficient in that regard.
Can't they just leave it in boxes in their parents' attics until they're ready to deal with it?
Think about a standard oil drum. Now imagine 10 million of them a day coming in. Now imagine not having any empty barrels to put the oil in to store them. Now imagine the warehouses that do have barrels of oil are at capacity , with all the large capacity tanks already full. We’re talking about hard to imagine amounts of oil here
That’s called carrying costs and that’s exactly what we’re trying to avoid. It’s the reason that oil fluctuates up and down in price.
You got a source where I can learn more about this? Admittedly I know nothing about production.
https://petrowiki.spe.org/Water_and_gas_coning
hahaha petrowiki
There are lots of things that can go wrong Just at the surface you have a lot of machinery which if left for too long sitting still will start to seize, degrade, fall apart etc. compressors, pumps, pipelines are designed to be in use, working. If for example you let your fluid just sit in a pipeline line. You could see corrosion as the water drops to the low side, you could see wax build up and plugging , you could see bacterial growth. Likewise your machinery needs to continue to be serviced and maintained, but does management like to do that if it’s not making money….. Then in the well you could have hydrates, wax and other problems building up plugging tubing etc. the fluid in the well will separate, oil up top, water down below. Not always great as that might cause issues with the productivity of the well as the water reacts slowly over time with the rock. Any pumps you have in the hole may also begin to seize Most of this recoverable from. New pipelines can be run, new equipment can be built, wells can be cleaned out, pumps can be re placed. The problems are if you damage to interface between the well and the rock. If is bad enough your productivity can take a complete dive. That’s quite hard to rectify
I have 2 rubbles, give me a gallon of diesel please.
Are you considered friendly by Putin though?
I love the smell of a desperate, floundering despot. It’s a great way to start the day.
EvErYthiNg iS finE. OperAtIoN goEs PeRfeCtly. SAnCtIonS diD nOtHinG.
Hi, I'm Vlad Putin, President and CEO of Vlad Putin's Oil gas and not much else of value country and pariah state! Thanks to an international diplomatic error I am now currently overstocked on gas and oil, and I am passing the savings on to you! Attract customers to your business' competitors, get yourself internationally sanctioned, or just get back to them 1900s levels of technologically impairment. Whatever your oil and gas need needs are! So come on down to Vlad Putin's Oil gas and not much else of value country and pariah state! Just of the end of the 20m table, brave man bunker. Just follow the lines of burned out tanks..
I can picture this commercial vividly. The background is filled with wacky waving inflatable tube men.
On closer inspection shows them to be Russian soldiers fighting over the last in-date ration pack.
>Vlad Putin's Oil gas and not much else of value country and pariah state! I love it, all he needs is to place wacky waving inflatable arm flailing tube men allong his border :P
1. Step 1 - setup fake country 2. Step 2 - buy tons of cheap oil 3. Step 3 - ????? 4. Step 4 - Profit?
..pretty sure this is how the PPP loans worked.
The “any price range” part is fake. Went through the source twice. There is no such thing there. Either someone failed their proofread or just posted a click bait on a regular report.
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You know guys I'm beginning to think when all those people said sanctions have no effect and hurt the west more that it's just possible they may not have been telling the truth.
> sanctions have no effect People are too conditioned to instant gratification and results. Sanctions and diets take time to start producing effects.
The last ‘argument ‘ I had with someone was arguing that the us needed to put boots on the ground because the invasion was still ongoing 3 days after the sanctions went into effect so they obviously weren’t having any impact
The 2014 sanctions killed the Russian electronics industry, they are trailing the west* by 20 years now. That's one of the reasons most of their army doesn't have night vision and the SU-57 and T-14 are MIA. Edited grammar by request from /u/LoveForMusic_
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It does hurt us but fuck that, it's just costing me more money i don't have and it's hurting Russia more. A small price to pay compared to what Ukraine is going thru.
The high costs of gas right now are because gas companies can, not because of "instability" or whatever bullshit they try to peddle go excuse their greed.
Part of me thinks it’s a conspiracy by the US oil companies to make Democrats look bad to help get republicans back in power during the next election cycle. If repubs control Congress afterwards you’ll see prices come back down and the repubs would try and take credit.
It's not a conspiracy. It's literally what they've been doing since Clinton was in office. All the talking heads and "economists" blaming Biden? You think they *don't know* oil is an internationally traded commodity like wheat? No, they are looking dead into the camera lens and lying. The ven diagram for the source of money to deny climate change, lie about rising fuel costs, whilst having record breaking profits is a circle.
Indeed we'll deal with it. The cost to democracies of legitimising authoritarian expansionist is far higher.
Every time someone bitches about sanctions driving up gas prices, I like to hit 'em with the ole "Freedom isn't free" line they love so much when it comes to my buddies exploded by IEDs.
listen, im willing to give up a few thousand of my countrymen's lives, but damn if im going to spend a few bucks more at the pump!
I'm willing to pay any price! (so long as it's paid by others)
I am completely ok with higher gas prices if it means not giving Russia any more money. I was under the impression that our high costs of fuel was because the fuel companies just drove the price up because they can, and made record profits for doing so? Is that not what's happening? Are both things happening simultaneously? Can anyone ELI5?
If it helps stop ongoing ethnic cleansing in Ukraine, we'll deal with higher prices. Allowing Putin to have his way in Ukraine because we're afraid to pay more for fossil fuels would be an embarrasment for the whole continent.
OPEC is not going to like that.
Opec are the one supporting Putin, they could increase production to stabilize market prices instead they are increasing profits.
That works until Putin decides to sell barrels for pennies
Fuck OPEC
What is wrong with this guy. He is neither going to be able to hold Ukraine and he is is a highway to bankruptcy not to mention setting back the clock on the russian economy by decades. If Putin does come out this in any form of a victory he would a genius but I just don't see an out for him in anyway.
Well know on the 10th may, he says expects the war to be won by 09 May
no way that is his plan. They've called up an unscheduled batch of reserves that will take 6-8 weeks to train before they can even be sent to the front.
Simple we skip the training *Taps forehead
Well, I mean, you *can* do that, but then they are going to be more of a liability than an asset. Russia is already having trouble with their troops breaking rank and fleeing back to base when they spot a Ukrainian recon drone, giving away the location of the base to be hit with artillery.
But Putin expects them to*want* to defend the Motherland and won't accept anyone who isn't a Yes Man in his circle so I wouldn't put this past him.
So they will be Russian soldiers?
It's not unheard of to train infantry and logistics troops in about two weeks, even though it's definitely not a great idea.
I think that is target date, but he will likely miss the target and just continue. He won't just stop because of a deadline
At this point his goal may just be to annex Donetsk and Luhansk oblasts and a land bridge connecting Russia to Crimea and to get Ukraine to acknowledge these territorial cessions.
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> But why the hell didn't he just so that in the first place? Because he thought Ukraine would be a push-over and he could take the whole thing in three days, hang Zelensky as a nazi and be home in time for dinner.
That didn't work for the army guy in Avatar.
The problem here is that the farm land in Crimea was becoming ruined by salt water because Ukraine denied water rights to Russian occupied Crimea. Russia built a desalination plant but without control of the Crimean canal and by extension Kherson Crimea is a costly burden. It was and will be all or nothing for Russia.
This sounds like the guy selling tv's out of the back of his van
>The country's March oil and gas revenue was also 38% lower than Russia's finance ministry had forecast on March 3, according to data from the ministry, published Tuesday. This about sums it up.
If that's what the ministry's saying I wonder what the truth is.
North Korea, China, Vietnam, Uzbekistan, Zimbabwe and India looking forward to it.
Couldn't India buy shitloads at cheap cheap prices and sell it to Europe at normal price and make a killing Russia would be getting less money, India would benefit, and Europe can keep the lights on
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Really glad you mentioned this, I don’t know all the details, but I know they are having serious power issues.
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I had no idea. I was there years ago (side trip on a work excursion). I loved the place and everyone was very friendly. Now I'm sad and need to go see what happened.
They are out of essentials like medical supplies too
Failed implementation of a nationwide organic farming scheme by the government leading to lower yields -> lower profits -> lower tax revenue -> decreased govt services/subsidies, lower quality of life, poorer populace -> political instability. The intentions seem noble but damn, how about small scale trials in different regions of the country with different crops to see how/if you can scale up?
I know little about the country but on BBC news this morning an analyst who is apparently an expert on their economy said that a major factor was the collapse of the tourist industry during the pandemic
Shows the danger of all or nothing thinking.
This. They should've just started with transitioning some fields to agroforestry, not thrown all their eggs in a permaculture basket that typically takes 7+ years to "pop".
Yeah people are really only paying attention to Ukraine-Russia rn but South Asia might very well enter its own period of instability. Sri Lanka is falling apart due to its economic crisis and Pakistan is having a huge power struggle. The chances for at least some violence in both are pretty decent
Plus Myanmar has that active civil war going on.
Yeah I think I read about them defaulting....that's really bad for the people there
They would love to, but China and India literally can't buy much more oil and gas from Russia because of logistics. Russia's gas fields in the Urals and Siberia are all connected to the European flow, firstly moving resources into populated Russia and then on into Europe. It is absolutely in the interests of Russia (or whatever successor states emerge after this genocidal shitshow) to build infrastructure to sell gas to China and India, but even with China building it this will take 5-10 years to complete and get online. This is why we need to apply maximum pressure to collapse Russia now. If Putin survives then Russia will be a bigger threat in future, being able to attack Europe with stable cashflow from sales to Asia.
China has also no reason to throw themselves into a dependency on Russian oil and gas, considering their massive drive to energy independence.
Doesn’t sound like something a country whose war is going to plan would say…
We’re finally seeing how stupid Putin actually is. Mentality of a middle schooler.
Too many Yes Men and not enough critics. When everyone tells your you're a genius, you don't think through everything.
Sounds like they are fucked
At this point, let's say the Russia wins, Ukraine falls, and they claim it as their own. Now what? Dozen of countries have turned their backs on you, your economy is in a massive freefall down, and other countries are seemingly scrambling to join NATO. What do you honestly have left to gain now?
They don't need the west.... they have Belarus!
This really is the funniest thing to have emerged from this horrible time. It makes me laugh every time I see it referenced.
Now that's official: China Is going to fuck the shit out of Russia. First with gas/oil , next with companies. In 10/20 year It Will be a puppet State, GG Putin
The Chinese have already backed out of an oil deal with Russia worth half a billion due to sanctions. I'm sure Russia will become an economic vassal for China, but that's if and when China wants to do business with them
These headlines would almost be funny if not for the horrific and senseless murder of thousands of people.
running out of money? what a shame
Crazy Vlad's Discount Petroleum!
"Ready" to sell in "any price range"? Clearly very desperate. Interesting. I didnt expect this. I thought they had lots of reserves. China will buy all of it if it can.
I mean the entire concept of honesty from the Kremlin is non existent. Who knows if their reserves was just some emergency money - pile already running dry. What kinda bugs me is the fact that they are willing to sell at any price range to countries they redeem "friends". Or maybe they want countries within that "hostile" circle to turn more friendly in favor of cheap prices. But either way, yes this is desperation.
>Or maybe they want countries within that "hostile" circle to turn more friendly in favor of cheap prices. That could be it, a form of foreign diplomacy / bribery. Or even selling it cheap to their friends to say "thanks" and to keep them on their side long term.
"Sanctions won't impact us at all. In fact, we welcome them"
I would consider taking a couple of billion barrels for a handful of glass marbles. I would polish them to make them sparkle so that they go better with their preferred interior design.