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<blockquote data-quote="bacha29" data-source="post: 5471635" data-attributes="member: 58386">Instead of reciting sensationalized headlines to one another why not focus attention on what is known?DOE has put out bids for replacement oil for the SPR at $72. This puts a floor under oil.EU has capped price offered for Russian oil at $60. Putin says he won&#039;t sell it to the EU at that price.&nbsp;With the pipelines closed the only way out of a major Russian export depot is by tanker passing through the Turkish Straits. Turkey requires all tankers going through the Turkish Straits to be fully insured against spills and other unpleasant possibilities .Russian and Chinese flagged tankers are considered to be in poor condition from a safety and seaworthiness perspective compared to Western flagged tankers which have to conform to higher standards.As a result only Western flagged tankers are currently able to get their boats insured. This in turn means that Putin&#039;s oil can only go on Western flagged and insured tankers and therefore it&#039;s 60 or it sits.</blockquote>

[QUOTE="bacha29, post: 5471635, member: 58386"] Instead of reciting sensationalized headlines to one another why not focus attention on what is known? DOE has put out bids for replacement oil for the SPR at $72. This puts a floor under oil. EU has capped price offered for Russian oil at $60. Putin says he won't sell it to the EU at that price. With the pipelines closed the only way out of a major Russian export depot is by tanker passing through the Turkish Straits. Turkey requires all tankers going through the Turkish Straits to be fully insured against spills and other unpleasant possibilities . Russian and Chinese flagged tankers are considered to be in poor condition from a safety and seaworthiness perspective compared to Western flagged tankers which have to conform to higher standards. As a result only Western flagged tankers are currently able to get their boats insured. This in turn means that Putin's oil can only go on Western flagged and insured tankers and therefore it's 60 or it sits. [/QUOTE]

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