Monday, February 24, 2020

Russian exports

The latest political storm centers around Putin trying to help one candidate or the other. From an economic standpoint Russia would be better off with Sanders. 60% of Russia's GDP comes from exports of oil and natural gas. The US is the largest producer of fossil fuels and Sanders wants to switch to wind and solar while Trump wants to increase fracking. Econ 101 says that when the supply decreases the price increases. Does Putin want higher prices for his exports?

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