Strikes on Russian oil refineries, besides causing immediate damage, have another important long-term component – Russia lacks storage facilities for oil.

All of it was either exported or processed, and this has been the case since Soviet times. No one cared about building large storage facilities, like the famous "salt domes" in Texas and Louisiana in the U.S., where the strategic oil reserve is stored.

The story of the tankers that sank and polluted the Black Sea is a vivid illustration. They were used as floating storage facilities. Well, keeping oil in river vessels in a stormy sea is just brilliant, but that's not the point right now.

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