Today marks one year of Russia's invasion of Ukraine on February 24, 2022, which has seen many changes, not only in the two countries but also in the world.
Among the most noticeable is the global inflation that increased sharply due to the energy crisis when the price of crude oil, new coal and natural gas soared.
The most affected countries will certainly be Europe since it is highly dependent on Russian crude oil and natural gas supplies.
However, thanks to the United States for being Europe's savior with its crude oil and liquefied natural gas (LNG) supplies skyrocketing.
The increased amount coupled with a very high price certainly gives a big profit for America.
This is reflected in US oil exports reaching a record 3.6 million barrels per day overall in 2022, where the average WTI price last year soared at $94 per barrel compared to $68 per barrel in 2021.
In early March 2022, WTI is even close to reaching $130 per barrel, the highest level since 2008. Just imagine how much the US can benefit from this.
That's just crude oil, the surge in LNG exports is again great with a surge of over 100%. In fact, the Energy Information Administration (EIA) says the US will become the world's largest exporter beating Qatar.
However, the beneficiary countries are not only the United States, but also other energy exporters, including Russia, who also enjoy huge benefits.
Fatih Birol, head of the International Energy Agency (IEA) said that in 2022 the crude oil and natural gas industry will record profits of up to $4 trillion.
