Another Loss for the US: Japan Breaks with Western Allies, Buys Russian Oil at Prices Above Cap

How happy you must be. The US has options to make Russia uncomfortable. That’s it. We all know that. The only way Ukraine wins is if this drags on and the Russians get tired.

 

Ummmmm. The G-7 gave an exemption to the Sakhalin-1 and 2 projects over a year ago, so why is this even news? Japan has always had an oil and LNG problem, and was even a major reason Japan went to war with the U.S. in 1940’s. They are probably the most energy dependent country on the planet.

Before the wingnuts start to celebrate they need to understand Japan gets less than 2% of its oil from Russia, all other sanctions are still in place, and Russia still considers Japan to be a hostile government meaning the sale isn’t guaranteed.

 

Don't get to upset, as usual GatePun, leaves out critical info the intelligent reader would consider. Japan is the world's 4th largest oil importer with 2,700,000 barrels a day. Of that in the first two months of 2023, they imported 12,500 barrels per day from a Russian co-op source that was incidentally produced with their natural gas. Less than 1/2 of 1% of their imports, as approved by the US since it was a by-product. A literal drop in the bucket, but works to rile the base. SMH

 

Another crack in the (far from united) economic war on the Russian people.

 

The attack must not be going well as the US exports more oil now than it ever has. I provided 2 sources with numbers the last time this was claimed by Plank - last week.
Edit: here it is for you. Check out the table in the bottom citation
The Five Biggest Oil Producers –Updated 2022 | DW Energy Group

U.S. Exports of Crude Oil(Thousand Barrels)

 

Like I have said, there isn’t a viable alternative. When there is, then posts like these might make more sense. But I posted the numbers in another thread, the most likely scenario is a decentralization of currency when appropriate. People will start to trade in local stuff. But the worlds reserves will be in dollars still, because we are the only currency that has sufficient amounts, transparency and liquidity to do so. If you think any western country wants their reserves held hostage by China if they invade Taiwan for instance, you’re not following the whole story. And that’s the bulk of the dollar’s power, people turn to it in uncertain times. Just like the last 3 years.

 

Just knew the OP had to be a half truth given the link is gatewaypundit... it's too bad Rick doesn't look for additional sources before posting their nonsense.

 

With $30 Trillion in debt, and counting, we should all be praying that the bulk of the world continues to use US Dollars. Or, perhaps the way we pay off the National Debt is to inflate the currency so that $30 Trillion = cost of a new car; and, therefore, we can pay it off easily.

Foreign wars, debt, division at home, and invasion of home are great ways to kill a country.

 

I think China is the most energy (and food) dependent/importer on the planet.

 

Our debt is entirely self inflicted. No one wants to make the hard choices, so they babble on about social issues (on both sides). Meanwhile, SS is going bankrupt, infrastructure is crap, an entire class of people are hooked on government benefits, countries around the world spend nothing on defense because we do it for them etc.
It’s time for us to start facing our problems.

 

LOL Rick. Or maybe MSM reported it long ago without the hyperbole right-wing media uses to chum the base. Garbage in = garbage out.
TOKYO, Dec 19 (Reuters) - Japan is sounding out major oil refiners about buying Russian ultra light crude from the Sakhalin-2 gas and oil project to ensure that the plant can continue to operate smoothly, two sources with direct knowledge of the talks said.

The Sakhalin Island complex, partly owned by Gazprom (GAZP.MM) and Japanese companies, is vital to Japan's energy security as it accounts for 9% of the country's liquefied natural gas imports.

 

I’m not saying it not true, I’m saying if the US and it’s Allies made allowances for this with Japan as part of the deal to them to join the pact, than it’s not the fainting goat shocking betrayal of Biden you are trying to make it out to be.

 

Would somebody explain to me how two non US countries buying and selling oil in a currency other than dollars is supposed to be catastrophic for the US? Please be specific.

 

My eyes have been open otherwise I wouldn’t know the dollar is the global currency because we have 75% of the gold supply, and oil has nothing to do with it. Good try though.

 

What I figured. Much wailing about loss of the petro dollar, but nobody can explain how reduced petrodollars will be detrimental.