Submitted by: Edward Moore
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What was largely a theoretical modeling exercise until moments ago, is set to go live because Reuters reports that the EU is set to declare a full embargo on Russian oil after this weekend's French election: - EU GAS PRICE TO SHOOT UP AS EU TO DECLARE EMBARGO ON RUSSIAN OIL AFTER FRENCH ELECTION NEXT WEEK - SOURCE
Why wait until after the election to launch the embargo? Simple: Europe's bureaucrats are correctly terrified that the coming oil price spike to push the vote in Le Pen's favor, which is why Europe will wait until after the election (when Macron will supposedly be the next president of France, as Belgium hopes) to announce it publicly. More... ~~~~~~~~~~~~~~~~~~~~~~~ Let's assume this is increase is correct and the price of gasoline will be impacted linearly by the increase. That means a current increase of $81.85 per barrel of oil over the current price of $103.15. According to AAA, the average price of gas is $4.101. If this increase is correct, the average price of gas will be $7.36 a gallon. Imagine the price of food once a 79% increase in transportation costs are factored in. Along with the increase in grocery store wages of 19% through 31%. Add in the cost of fertilizer, DEF shortages and wheat shortages and you have the Globalist's foreshadowed Great Famine. David DeGerolamo |
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