Will You Pay More for Gas Because Of Trump's Tariffs?!

Chris questions the 500% tariffs on Russia’s oil buyers like India—will it backfire with skyrocketing global oil prices? www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
Five percent tariffs on Russia. Now, many people say, see
you this, and they say, yes, go get them sticking
to putin get them. Okay, I get it. These are
some anti Russia sanctions, and you want to call this
the nuclear option in case Moscow decides that he refuses

(00:40):
to sign on to the various different efforts that Trump
is being putting forward to negotiate some sort of peace.
You got about fifty Republicans and Democrats. They put forth
this sanctions package. You got Lindsey Graham and Richard Blumenthal.
Five tariff on imported goods from countries that buy Russian oil, gas, uranium,

(01:04):
and several other products of American citizens would also be
prohibited from buying Russian sovereign debt. Okay, Joe Biden. There's
a lot of stuff that happened behind the scenes with
the Russian sanctions that, again the mainstream media didn't really
cover a lot of this. We've already mentioned the fact
that the European Union spent more on oil and gas

(01:28):
from Russia than they did on weaponry that they sent
to Ukraine. Another side deal that really wasn't talked about
was who's been buying, actually buying Russian oil. India has
if if India is not going to be able to

(01:50):
buy Russian oil now again, they got it at a
discounted price too. And again this was somewhat facilitated by
the United States too, because again Biden didn't want to
have oil prices skyrocket. It's one of the dirty little
secrets out there. We were told, all right, we're sanctioned
in Russian oil. Yeah, the oil made it to market, friends, Okay,

(02:12):
it did. India was a major buyer of oil. Now
what now, I get it. If you want to replace
Russian oil, it's a lot. It's a lot. You know,
last time I chicked about about a clue over a
million barrels a day. Can the United States pick that up?

(02:35):
Can Canada pick that up? Can Saudi Arabia pick that up?
Not so sure? Not so sure? And it would obviously
cause a major disconnect. I have to believe that Russian
knows this as well. So, I don't know if this
bill is all talk. I'm not so sure, but you're

(02:58):
talking about you can't just take take that amount of
oil off the market and expect prices to stay where
they are. You would see skyrocking prices across the globe.
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