Posted on 04/08/2022 4:21:51 AM PDT by Kaslin
Did the US inadvertently finance Putin’s war on Ukraine with short-sighted, politically motivated, and irrational energy and climate policies? And did those failed policies fuel inflation to the obscene rate of 7.87%? Were the geopolitical consequences and the enormous economic costs of those policies predictable and avoidable? The short answers are yes, yes, and yes. Anyone in the Biden Administration could have “done the math” and seen how rising energy prices would continue to fill Putin’s coffers, funding his military build-up, and contribute to runaway inflation here at home.
The oil and gas industry is the cornerstone of the US economy and will continue to be for years to come. Crude oil and natural gas prices impact not only the price of gas at the pump but virtually everything we buy. Petroleum is an ingredient in all types of consumer goods, which are then transported using ships, planes, trains, and trucks fueled with petroleum products. Natural gas powers over 40% of our electrical grid, heats our homes, and is a substantial component in the cost of manufacturing almost everything.
Crude oil and natural gas prices also impact the economic health and behavior of global adversaries like Russia and China. Russia is one of the top three largest oil and natural gas producers in the world. According to the Russian Ministry of Finance, oil and natural gas export revenues constituted 36% of their total federal revenues in 2021. That amounts to over 9 trillion rubles or $121 billion in 2021 alone. Russia sold 48% of its oil and 72% of its natural gas production to European countries.
(Excerpt) Read more at americanthinker.com ...
There was a posting here yesterday about Russian oil revenues being off $3.5B for March. Quick math shows the American consumer paid $7.45B additional during the same period for gasoline finished product only. Biden’s sanction club will bankrupt the American consumer long before they have the desired effect on Putin.
I will look for that. Thx!
The Demonicrat kakistocracy, with Dementiajoe as their handpuppet, continue to give aid and comfort to the enemies of the United States.
Biden’s weakness was displayed to the world. In a year, he showed a lack of leadership by catering to every interest group who funds the Democrat Party. He listened to AOC. Putin thought the time was right to invade Ukraine. Putin was wrong. Biden sat back and told us how Sanctions will work. John Kerry said “Putin should remember Climate Change and Global Warming?”
I see very little opposition to war on the right, in fact the opposite.
That is reaactionary war support. It follows the onset of the war. The Democrats needed the war and brought it on, Biden by flashing all the signals he could to Russia that now is the time to invade Ukraine. Once the war is begun then it creates its own dynamic in American polltics. The left got it going for no reason other than they needed a diversion and a leg up on the elections in November but once it is in progress the war has to be fought to a successful conclusion by the west or Russia/China take great steps forward in power The real downside is that the Left’s prosecutio of the war causes hastens the demise of the dollar as a reserve courrency and as a viable money in its home country.
Brandon already told us that the American people will be paying the price of Pooty-Poot’s sanctions. No surprise here....
As Rush used to point out, "The planet runs on the stuff".
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