JUST IN - Biden set to ban imports of Russian oil, LNG, and coal without the participation of European allies as soon as today, Bloomberg reports.

twitter ^ | 3/8/22

[usconservative]

Exxon, Shell, Total.......all have already ceased purchase of Russian oil

Shell was reported on the other day as having purchased Russian Oil at a steep discount.

[tennmountainman]

But he won’t let American companies drill to make up the difference.

[logi_cal869]

They best way to sanction Putin is $40 oil, not $140. These people are morons.

I was wondering when some sanity would peek out through all the BS in this forum.

[bert]

Compared to a Green America, events in Ukraine are trivial and of no importance

Hence the General’s pronouncement.....”the only god greenie is a dead greenie”

[sanjuanbob]

Your post warrants repeating…good stuff.

Isn’t this just a case of Biden re-imposing an embargo that Trump had put on Russian energy imports, and Biden lifted last year? LOL.

[nuke_road_warrior]

We were buying Russian COAL? WTF? Our coal reserves are huge. China Joe is actively working to kill the U.S. coal industry and yet we were buying RUSSIAN coal, until China Joe read the tea leaves (midterm polls).

[bert]

The discounted oil in question is from Shell operations in Russia that are already discontinued. Shell closed shop in Russia and is not presently operating or purchasing from Russia

The same is now true in advance of the Biden order, for Exxon.

Biden is two $ short and a week or so late

[Enlightened1]

Are you sure they were just U.S. companies and not any others?

[usconservative]

The discounted oil in question is from Shell operations in Russia that are already discontinued. Shell closed shop in Russia and is not presently operating or purchasing from Russia

Thanks, I hadn't read that. Appreciate the info.

[bert]

You are correct, there are others. The French company Total for one and an Italian company I don’t know.

My point is that Biden is pretending to be relevant and has no meaningful effect on the issue.

[cuz1961]

But he won’t let American companies drill to make up the difference.

/\

And just like that....

The last nail in the coffin is hammered.

Sitting in a cold damp dark hole in the ground scratching in the dirt floor for bugs to eat.

Satan and ilk laughs.

[old curmudgeon]

$10/gallon gas by July.

Enjoy, America.

---

Prosperity and a comfortable life require low cost energy.

At the cost level the dims are seeking, not only will there be no prosperity, many people will perish from cold and hunger.

And all of the sales pitch about cheap electricity is BS. It takes a lot of energy to make electricity and so the cost of electricity will skyrocket as will the cost of electric cars and other electric devices.

[1Old Pro]

But he won’t let American companies drill to make up the difference.

No new wells, they only allow drilling on current wells. Chevron and Exxon are increasing in the Permian basin. https://www.reuters.com/business/energy/chevron-hikes-buybacks-raises-cash-flow-forecast-2022-03-01/

[LouAvul]

Our country (and most others) are run by oligarchs that care more about getting positive news coverage

It's not about news coverage. Follow the money.

Some of these mongrels* (of which you speak) will short stocks then fund terrorist organizations in order to collapse the stocks (because of the orchestrated chaotic market). They then buy the stocks for a song and later sell for profit.

Not unlike what the "insiders" did to cause the Great Depression.

*One particular mongrel, a fat, old, diseased and dying billionaire who wants to make sure he's not going to miss anything when he dies since, (he hopes) he will have destroyed civilization.

[Governor Dinwiddie]

We will find out about the American people come November. If the Democrats aren't slaughtered in the midterm elections, then there is no hope.

[pas]

Remember years and years ago we could not drill Alaska because it would take 10-12 years for it to make a difference. Pretty sure we are at that 10-12 year mark.

[old curmudgeon]

The next question is: How many people will last until November is gas hits $10.00....and diesel, which is essential to farming, transportation and home heating is even higher?

[kelly4c]

Who is HE that he has the power to “let” or not let a company supply essential products or services to the American people? @#$_&

[mware]

Gas was 4.27 9/10 yesterday. This should put it to at least 4.50 by the end of the day.

[Alberta's Child]

I'm pretty sure American companies can drill all over the place here in the U.S. The Biden restrictions apply to new leases on Federal lands, not drilling activity on private land.

This is why you've hardly heard any complaints about the Biden restrictions in places like Texas and Pennsylvania. There is very little Federal land in those states, so the oil and gas extraction isn't impacted very much at all. If anything, those states love the Biden restrictions because it reduces the supply of oil/gas from other states and drives up the prices that are paid to local producers.