Broken Science behind Sanctions on Russia

I am not sure if economic sanctions on Russia is helping Ukraine win the war. Oil is significantly more expensive today than it was before the war, which benefits Russia. As a result, Ruble is also stronger today against the Dollar than it was before the war. Freezing of some of Russian foreign reserves also increases leverage for Russia, if it wanted to use it on short-term. Russia in exchange could have frozen repayment of western debt, causing significant harm or at least, repay them in Ruble and telling the debtors to exchange it for Dollars, Euros, Yen etc. with their own governments.

There is pressure on Europe to stop buying energy from Russia under the context that buying energy from Russia is funding their war. This is not correct. It is Russia’s own energy reserves which is funding the war. If Europe stops buying energy from Russia, then Europe will have to buy energy from elsewhere, which will increase the price of energy, thereby benefitting Russia. It is also not the case that those other energy suppliers are better for humanity.

An unfortunate helpless fact of our globe is that a lot of energy reserves are held by people who are not necessarily kind. Some of them suppress women’s right in their own countries to say the least. Which is more cruel, suppressing women’s right or a war on Ukraine? We got desensitized in suppressing women’s right, therefore we ignore that part of cruelty, especially in other countries.

If we want to harm Russia through their energy reserves, on a long term basis, we need to reduce our dependence on carbon fuel. We need to accelerate our move to clean energy. On short term basis, we should reduce our consumption and/or increase our own supplies, or in general increase supplies, thereby reducing the price of oil. How many of us have reduced our oil consumption due to war by Russia?

Why has not our government increased taxes on oil, so that the wholesale price of oil reduces? Instead, some local governments are doing exactly opposite. Some local governments in the US have reduced or eliminated taxes on oil, thereby help increase wholesale price of crude oil. California government is considering sending $400 for each car owner, which will also help increase wholesale price of crude oil. Why not send them a pass to public transport, or ask them to use carpool to receive $400 rebate? That may also help with auto shortage in the country.

Increased taxation on oil reduces wholesale price of crude, thereby harm the oil producers. Reduce taxation on the other hand has exactly the reverse effect. Oil companies' stocks are at higher prices today than they were before the war. Our government should tax oil significantly more if it wanted to help Ukraine through oil policies, but use that money to send cash payments to all American families. The American families can use the cash payment to balance their household budget and some more, and the higher taxes will reduce consumption, in turn reducing wholesale oil prices, and also lower the price you are paying to oil companies. The stock prices of oil companies would have been lower if taxes were increased on the oil. Each dollar of oil tax may only cost 50 cents to American families, but they would receive a full dollar in cash payment.

I think our governments should adopt policies which are based on economic and climate science rather than on social perception.