Things just went from bad to worse in Europe and it's coming soon to a theater near you.

I'm talking about the banning of Russian oil.

Hello everyone, Dr. Chris Martinson here with another episode, episode 63.

By the way, really important stuff going on right now.

As you know, I've been talking about COVID. I talk about energy markets. I talk about

market markets, financial markets, that is. I talk about it all because they're all interconnected

events. So we have to talk about these things. I think that what just happened in Europe

in the banning of Russian oil is going to have extraordinary,

huge impacts. And of course, that comes to us courtesy of politicians who are mainly

unsurious people in the sense that they've never seriously been responsible for the production

of anything. They don't really understand how things work. But man, they're glad to legislate it

and regulate it. And of course,

they're going to do what's right from a political standpoint, which increasingly is wrong

from an environmental standpoint, increasingly wrong from an energy standpoint, increasingly wrong

from an economic standpoint. So let's go there. Let's take a look at these slides. I think that

cutting off its own energy, this is not too strong of a term. Europe's self-destruction. This is what they're doing. They are self-destroying their economy, their people, their households. If you're one of my European listeners, please, you have to get ready. If you're listening from somewhere else, you might have to get ready just a little sooner or a little later than Europe because this is the new normal of what we live in. We have

leadership that does not understand what it does. So today we are going to be talking about oil,

oil markets, how it functions. This is critical knowledge for you to understand. Now, it all begins

here with this news that just came out on

the 30th of May, and today is the 31st of May. So this came out on Memorial Day in the United

States just in EU to impose an embargo on Russian oil. So more than two-thirds of imports

are going to be cut immediately. And as if that wasn't enough, a little addition, a little something, something on top of that.

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