But how would you estimate my post with the analysis of longer term consequences for Russia and its war effort in Ukraine?
I think it's plausible, but not likely.
People are saying - "Oh, now an attack on Iran will be much simpler, because America will not have to worry so much about global oil supply disruptions."
or:
"Trump will flood the world markets with Venezuelan oil - and this will crash Russia's economy".
These are facile arguments. One has to look closer at the details to understand what is possible and what is not.
-//-
The facts are:
1) The Venezuelan oil industry has been starved of capital investment for the best part of twenty years. It will take a long time for it to even reach the levels of production they had in the early 2000s. We are talking years - not months.
2) Venezuelan oil is notoriously difficult to extract and to process. This is why despite having the world's largest oil reserves, it was never in the "top" of countries by oil production. It would take truly gigantic investment and a great deal of time to get Venezuelan production to even Iranian or Iraqi levels. We are talking about more than a decade.
3) So, if Iranian oil production is knocked out in the near future (during Trump's current term, say) - for example - then Venezuela will certainly not be able to replace it in any possible way.
4) Russia's economy and its structure has changed significantly since the early 2000s. The argument Bild is making regarding the critical role of oil exports to the state budget is... only partially true.
5) Even with low oil prices, Russia runs a budget deficit which would make most European countries envious (around 2%). If oil prices fall through the floor, Russia has PLENTY of room to borrow. Russia should be able to tap tens, if not hundreds of billions of dollars from the debt markets (internal, and Chinese).
6) In the end - I will tell you a Russian joke:
Father: Son, I lost my job and money will be tight for a while.
Son: Dad, does this mean you will drink less?
Father: No son, it means you will eat less.
The moral of this joke is that Russia will always have enough money for war, because it will simply cut other things... like healthcare, education, infrastructure investment, etc.