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Posted on 03/08/2022 6:09:27 AM PST by shadowlands1960
WASHINGTON — President Joe Biden has decided to ban Russian oil imports, toughening the toll on Russia’s economy in retaliation for its invasion of Ukraine, according to a person familiar with the matter.
The move follows pleas by Ukrainian President Volodymyr Zelenskyy to U.S. and Western officials to cut off the imports, which had been a glaring omission the massive sanctions put in place on Russia over the invasion. Energy exports have kept a steady influx of cash flowing to Russia despite otherwise severe restrictions on its financial sector.
Biden was set to announce the move as soon as Tuesday, the person said, speaking on the condition of anonymity to discuss the matter before an announcement. The White House said Biden would speak Tuesday morning to announce “actions to continue to hold Russia accountable for its unprovoked and unjustified war on Ukraine.”
The U.S. will be acting alone, but in close consultation with European allies, who are more dependent on Russian energy supplies. Natural gas from Russia accounts for one-third of Europe’s consumption of the fossil fuel. The U.S. does not import Russian natural gas.
Biden had explained his reluctance to impose energy sanctions at the outset of the conflict two weeks ago saying that he was trying “to limit the pain the American people are feeling at the gas pump.”
The news of his decision Tuesday was first reported by Bloomberg.
(Excerpt) Read more at politico.com ...
I’m really growing tired of this guy.
Leftys with Platinum healthcare have some impressive longevity....Carter, Soros, Castro, etc.
Next year's heating season will be catastrophic. People that pay $1000 to heat will be paying $3,000.
Agree this is eyewash.
Oil is a semi-fungible commodity.
The Russian oil will find a buyer somewhere.
I suspect the ChiComs will purchase all they can send.
Yup. I cant wait to see how the great know it all democrats who drive over 20 miles one way to work in the city like this.
The epitaph on Biden’s tombstone should be the quote from Obama “Never underestimate Joe’s ability to f#^& things up!”
So, for all you researchers out there, what portion of a gallon of gas the typical Texan burns is Russian? In ounces please. Just askin.
Why not? His whole residency is fake.
Crude oil is a very fungible product that can be moved from almost any place in the world to almost every place in the world.
If the USA stops importing Russian crude oil, that oil will find a new home someplace else in the world.
If Biden does ban the import of Russian crude oil to the USA, this is nothing more than ‘rearranging the deck chairs on the Titanic’.
Russia will probably just sell it through a 3rd party anyway so it will just cost everyone more.
A query on Google for this question just reveals that Texans are pro-embargo. Not surprising... Ted Cruz was just on Glen Beck saying the same thing... of course embargo along with freeing up American energy...
They made the stage because they needed larger telepromter for Biden. Also they can control his access and replies better. 80 million americans have really screwed our country and put the world in a precarious position.
I know he is not in charge.
This ship of fools have put us in a ditch I don’t think I’ll ever see us get out of. This declaration by the droolilng emperor comes after putin already said he plans to stop deliveries just in the last two days.
I suffered through just over a minute of this:
https://www.youtube.com/watch?v=HlTxGHn4sH4
“Under my plan of a cap and trade system, electricity rates would necessarily skyrocket.”
What we see is a continuation by the administration team all clamoring to do what they didn’t get done with obama.
Same plan, new method, sky rocketing energy costs and by that sky rocketing costs for everything else.
Oil must be displaced to new markets. Russia will market somewhere. Probably china which drives china and russia into each other’s arms even more. It will not happen over night and until supplies are rebalanced we are in for some terrible times. Very terrible.
It’s all about hastening the adaptation of EVs, never let a crisis go to waste.
Watch your catalytic converter(s).
Rare metals prices are going up like crazy.
I’d have to sell my house (or mortgage it) to buy an EV. I’m retired on a pension... suspect a lot are in same situation....
And more, changing budgeting radically to shift to massive spending on Green projects at the expense of everything else. Congress will have to stop this in next year's budget, if they have the fortitude.
Mystery Babylon
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