Oh the hypocrisy!

The United States receives 8% of its Crude Oil imports from Russia.

(on another note, 2% of its oil imports come from Iraq and a further 1% from Libya)

The U.S. have announced a release of 30 million barrels from their Strategic Petroleum Reserves.

Various news reports carry the sub-text that the release will assist to ‘end the weaponisation of Russia oil’.

The United States import 30 million barrels of oil from Russia ALONE every 2 months.

In fact, the Biden administration is on a run rate (so far) of importing more Russian than during the Trump years.

Don’t let the headlines and spin mislead you.

#context

March 3, 2022
by Rob Zdravevski
rob@karriasset.com.au