And then, of course, there's the fact that nobody is particularly interested in seeing their capital illuminated by the soft afterglow of a mushroom cloud...
- Jake If you only spend 20 minutes of the rest of your life on economics, go spend them here.
True enough. But......
There's a continuum of coercive action that one state can take against another that runs from doing nothing to thermonuclear war.
Economic sanctions being the most likely.
A US embargo on Russian oil is a nice toothless measure (because the US imports only a small amount from Russia) that will have tremendous symbolic consequences.
It's when the big boys get into pissing matches that everybody else just gets pissed on.
Even a small, symbolic cut in Russian oil output could have a big impact on prices, because demand is so tight. And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg
And in countries like China, Indonesia, and Iran maintaining subsidies for gas will be hard, and without them there's bound to be a lot of civil unrest. And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg
