Headline: "Russia border invasion ...

[Corndog2021]

..pushing up gas prices"

This was on Fox

What a total waste case our Gov and the media have become- blame Russia - ignore China - Pedo Joey shitting down our gas line And letting Buffett transport the same oil through the country- but by his Rail at 4x the cost of keystone transporting- no thst has nothing to do with gas prices- what a damn joke

Everyone should see through his BS by now

 

[aix_xpert]

The Ukraine conflict is driving up oil prices. The fact you can't distinguish between what is 'blaming Russia' and what is factually accurate is on you and not the MSM. And I've been very clear on this board about my positions on the MSM.

But in case you need an economics lesson, I'll do a short synopsis. Russia produces 12% of the world's current oil supply. This is fact. Oil prices are a reflection of contract prices for the future delivery of oil. As the media brandishes the risk of a potential Russian invasion, the market has to adjust for the risk of such an event, which would effectively remove that 12% of supply and thus those selling those futures contracts are accounting for such risk with higher contract prices. Now as to who's fault this is, that depends on whether or not you believe the media in regards to the Russian invasion.

As for the pipeline story, that was already baked into the current prices. That's part of why it was already at $80/barrel prior to any discussion about Russia invading the Ukraine.