mary's college of california dot to jack rasmus, rasmus, thank you very much for joining us here on our 3. no, so what was the europe is what you many would call the birthplace of market capitalism. governments are apparently ready to strip businesses of their revenue. what you make of up yeah, well the see you commission report is really the strategy of how they're going to try to deal with a severe shortage. is a gas in oil this winter? ah, you know, they've tried to get other gas in oil producers around the world to backfill it, but it's not going to happen and they just can't get the back filling. so now they're, they're gonna, you know, combine a strategy of a rationing targeting mostly consumers from what i can tell, raising revenues. as you mentioned here, although i don't know the revenues are going to be sufficient because it's got only revenues that are 20 percent more than the average profits in the last 3 years. i, you know, with profits going down with the economy slow. i don't know that they're going to be able to produce that much revenue to fund the subsidies that they'r

most cross live now it's adults at jack rasmus, economics and politics professor st. mary's college of california dots jack, welcome to odyssey international. now festival, what do you, if the sog or the surrounding the turbines, the node stream one, rushes as the sanctions are preventing maintenance while siemens says otherwise, what do you think's going on? well, it's probably both know there's probably a technical issue here, but it's pretty obvious. it's more than just a technical issue. you know, it reminds me of a parallel explanation here. i mean, what is it? we are in the private sector here. right? and we had a customer call, which in europe, and it was a private customer, not a country. and we had a private producer called a russian oil. and your customer said to you are, well, you know, in a couple months we're not going to buy any more of your product and we're looking for other customers and we're going to leave, we're going to break our contracts we had, were you? well, what kind of company i would say, ok, you broke the contract, we're just going to go s

jack rasmus says that introducing a price cap is pointless. g 7 thinks that they can act like a cartel. they think that they can set a global market price for crew down below what the market price is and, and i think that that's not only arrogant, but it's really a pretty silly and it's really not going to work. it doesn't go effect until december 5th to well, in the meantime, in russia just redirect its contracts elsewhere and salazar also elsewhere so they won't even have to buy it. and at the price capitain in europe, the global price of oil per barrel crude is you know, in low to mid eighties right now. and a rush is already discounting at this price cap is being said around $55.00 a barrel. well, that's what kind of where russia selling it already, you know, plus that the market is going to, the gold market does, recessions really hit in the 4th quarter is going to lower the price of the global crude anyway, so i know it's, it's really, it doesn't make my sense. those are the main stories for the thought you had of it's all websites or so

backfired with the sanctions. europe has shot itself in the foot, professor of economics and politics jack rasmus, say that introducing a price cap is pointless. g 7 thinks that they can act like a cartel. they think that they can set on global market price for crew down below. what the market price is and, and i think that that's not only arrogant, but it's really a pretty silly. it's really not going to work. it doesn't go effect until december 5th. well in the meantime, no, russia just redirected contracts elsewhere and salazar oils elsewhere. so they won't even have to buy it. and at the price captain in europe, the global price of oil per barrel crude is equal in low to mid eighties right now . and a rush is already discounting at this price cap is being said around $55.00 a barrel. well, that's what kind of where russia is selling it already. you know, plus that the market is going to the global market as recessions really hit in the 4th quarter is going to lower the price of the global crude. anyway. so i know it's, it's really, it doesn't make my sense. you are paying commission is planni

not normally affect the operation of a turbine and can be sealed on site lillia, i thought the jack rasmus and economics, professor st. mary's college and california who predicts the public discontent, will continue to rise as european politicians sacrifice the people's welfare, the political, you know, cost of it with their own population, reaches a point that, you know, the cancer sustained it any longer. i mean, that's the only direction this is going to come from. i don't see any, any of the elite breaking ranks and, you know, saying yeah, okay, the u. s. policy is as negative complications for us. so we're not gonna buy it anymore. and i can see that kind of declaration, but, you know, the, the key here, the wild card is the population. i think it's gonna take a lot more, rob, public crusher here over the winter. you know, the politicians will, you know, the squeaky wheel gets the grease, whatever, you know, and i don't think at this point they will, i, you know, they're very much the lisa very much tied into a u. s. foreign policy. but if the people in, you know who like them, are re

mary's college of california, jack rasmus, john ross with appreciate you taking the time to join us today. first of all, what do you think the risks, all the possible consequences, both for the e, u and russia. if this price caught, were introduced? well, you know, you gotta realize what this amounts to is. the g 7 thinks that they can act like a cartel. they think that they can set a global market price for crew down below what the market price is and, and i think that that's not only arrogant, but it's really a pretty silly. i don't think they're going to succeed. the idea was created by treasury secretary janet yellen some months ago. so the announcement today is not really in response to the referendum. this is, this has been a discussion going on for some time within the g 7. and they can't get the total agreement to g 7 because the, you know, it's, it's really not going to work. it doesn't go effect until december 5th. well, in the meantime i, you know, russia just redirected contracts elsewhere, and salazar oils elsewhere so they won't even have to buy it. and at the price captain