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Biden announces ban on Russian oil imports, calling it 'Putin's price hike' (1 Viewer)

Phys251

Phys251

Purge evil with Justice
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www.nbcnews.com

Biden announces ban on Russian oil imports, calling it 'Putin's price hike'

The move, which is likely to push energy prices even higher, comes as the administration increases sanctions pressure on the Russian economy,
www.nbcnews.com www.nbcnews.com

President Joe Biden announced Tuesday that the U.S. will target "the main artery of Russia's economy" by banning the import of Russian energy products.

"We're banning all imports of Russian oil and gas and energy," Biden said in remarks from the White House. "That means Russian oil will no longer be acceptable at U.S. ports and the American people will deal another powerful blow to Putin's war machine."

The president warned that the move would probably increase gas prices in the U.S., but that it was necessary to ramp up sanctions pressure on Russia's economy for its war on Ukraine.
Click to expand...

Americans are about to find out the hard way just how addicted to foreign oil we are.

Even if we drill-baby-drill in response to this, it's going to be months before domestic wells are up, running, and sending oil to the refineries.

Time to start conserving fuel.
 
What's he want, a medal or a chest to pin it on?
 
Phys251 said:
www.nbcnews.com

Biden announces ban on Russian oil imports, calling it 'Putin's price hike'

The move, which is likely to push energy prices even higher, comes as the administration increases sanctions pressure on the Russian economy,
www.nbcnews.com www.nbcnews.com



Americans are about to find out the hard way just how addicted to foreign oil we are.

Even if we drill-baby-drill in response to this, it's going to be months before domestic wells are up, running, and sending oil to the refineries. [<< ALL BIDEN'S FAULT]

Time to start conserving fuel.
Click to expand...

See above.
 
Phys251 said:
www.nbcnews.com

Biden announces ban on Russian oil imports, calling it 'Putin's price hike'

The move, which is likely to push energy prices even higher, comes as the administration increases sanctions pressure on the Russian economy,
www.nbcnews.com www.nbcnews.com



Americans are about to find out the hard way just how addicted to foreign oil we are.

Even if we drill-baby-drill in response to this, it's going to be months before domestic wells are up, running, and sending oil to the refineries.

Time to start conserving fuel.
Click to expand...
It's shared pain, left, right, and center we all have to endure it.

It's the right thing to do. There is never a wrong time to do the right thing.

We can only hope other nations can fallow our lead here.
 
In 2021, the US imported an average of 209,000 barrels per day (bpd) of crude oil and 500,000 bpd of other petroleum products from Russia, according to the American Fuel and Petrochemical Manufacturers (AFPM) trade association.

This represented three percent of US crude oil imports and one percent of the total crude oil processed by US refineries. By contrast, the US imported 61 percent of its crude oil from Canada, 10 percent from Mexico, and six percent from Saudi Arabia in the same year.

www.aljazeera.com

How much oil does the US import from Russia?

While Russian oil makes up a small amount of US imports, sanctions could have serious knock-on effects for the economy.
www.aljazeera.com www.aljazeera.com

We can easily make up the oil we import from Russia. The current price hikes are unwarranted gauging.
 
A hundred right wingers on this message board who have been saying Biden should do this are now going to be mad at him over the increase in gas prices.
 
nvflash said:
It's shared pain, left, right, and center we all have to endure it.

It's the right thing to do. There is never a wrong time to do the right thing.

We can only hope other nations can fallow our lead here.
Click to expand...
Okay so we stop the import of Russian oil. I'm sure Putin already factored it in his plans. More than likely Russia is going to just sell those barrels to the Chinese at a discount. And what is going to happen when the Chinese make their move on Taiwan? Are we going to stop importing all products from China in retaliation? Did you know that 90% of our generic drugs are produced in China. And is Apple going to stop producing Iphones in China?
 
surfguy74 said:
Okay so we stop the import of Russian oil. I'm sure Putin already factored it in his plans. More than likely Russia is going to just sell those barrels to the Chinese at a discount. And what is going to happen when the Chinese make their move on Taiwan? Are we going to stop importing all products from China in retaliation? Did you know that 90% of our generic drugs are produced in China. And is Apple going to stop producing Iphones in China?
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Hurts China too, the EU and the US are China's bread and butter, there is no small matter of mutually assured economic destruction.

With Russia, not so much.

China does not want us to turn the "eye of Sauron" on them, while we have it firmly fixed on Russia.
 
Y
Phys251 said:
www.nbcnews.com

Biden announces ban on Russian oil imports, calling it 'Putin's price hike'

The move, which is likely to push energy prices even higher, comes as the administration increases sanctions pressure on the Russian economy,
www.nbcnews.com www.nbcnews.com



Americans are about to find out the hard way just how addicted to foreign oil we are.

Even if we drill-baby-drill in response to this, it's going to be months before domestic wells are up, running, and sending oil to the refineries.

Time to start conserving fuel.
Click to expand...
Yes, that 1 to 3 percent of oil imported from Russia is really gonna cause problems...
 
Deuce said:
A hundred right wingers on this message board who have been saying Biden should do this are now going to be mad at him over the increase in gas prices.
Click to expand...
Oh yeah, now they'll talk about gas prices for sure. They don't actually care about standing up to Russia, they care about making Biden look bad.
 
Deuce said:
A hundred right wingers on this message board who have been saying Biden should do this are now going to be mad at him over the increase in gas prices.
Click to expand...
It will be mildly amusing to see them battle the 100 left wingers who have been screaming for months that a president can't control the price of gas defending the actions Biden has taken that directly increase the price of gas...
 
Putin's gas hike? Oh that dog ain't gonna hunt! It's Biden's gas hike and it has been since day one when he was handed energy independence and threw it all away with EO after EO to appease the jihad squad and the climate cultists.
 
Phys251 said:
www.nbcnews.com

Biden announces ban on Russian oil imports, calling it 'Putin's price hike'

The move, which is likely to push energy prices even higher, comes as the administration increases sanctions pressure on the Russian economy,
www.nbcnews.com www.nbcnews.com



Americans are about to find out the hard way just how addicted to foreign oil we are.

Even if we drill-baby-drill in response to this, it's going to be months before domestic wells are up, running, and sending oil to the refineries.

Time to start conserving fuel.
Click to expand...
Ummm...Trump took us off the addiction and was drilling in the U.S. and taking Canadian oil. Biden reversed this and now we buy oil and other energy from our enemies. Our enemies see the opportunity to collapse the U.S. economy by driving up the cost of oil. Watch it quickly go to $200/barrel. Currently in my area of California, the price of Arco is $5.59/gallon. If oil goes up to $200/barrel, the price of gas will go up to $9.00/gal for sure! Inflation on all items will also skyrocket, jobs will start to be lost, the poor will be devastated, the rich will get richer, interest rates will skyrocket, a recession and even a depression will follow. Biden has done this because he wants us off fossil fuel. But, he has nothing to replace fossil fuels with and won't for a couple of decades. The poor will become more poor. The middle-class will become poor. Even Elon Musk says for Biden to start drilling again in the 9,000 oil fields shut down by Biden. And, he makes electric cars.
 
Metric Mouse said:
Y

Yes, that 1 to 3 percent of oil imported from Russia is really gonna cause problems...
Click to expand...
Make everything with oil, it will cost short term problems. As people adjust their buying habits and their consumption habits it will negate any problems in the long run.
 
Grasshopper121212 said:
Ummm...Trump took us off the addiction and was drilling in the U.S. and taking Canadian oil. Biden reversed this and now we buy oil and other energy from our enemies. Our enemies see the opportunity to collapse the U.S. economy by driving up the cost of oil. Watch it quickly go to $200/barrel. Currently in my area of California, the price of Arco is $5.59/gallon. If oil goes up to $200/barrel, the price of gas will go up to $9.00/gal for sure! Inflation on all items will also skyrocket, jobs will start to be lost, the poor will be devastated, the rich will get richer, interest rates will skyrocket, a recession and even a depression will follow. Biden has done this because he wants us off fossil fuel. But, he has nothing to replace fossil fuels with and won't for a couple of decades. The poor will become more poor. The middle-class will become poor. Even Elon Musk says for Biden to start drilling again in the 9,000 oil fields shut down by Biden. And, he makes electric cars.
Click to expand...
Some of us are getting hysterical…
 
Took him long enough.
 
highroller said:
Make everything with oil, it will cost short term problems. As people adjust their buying habits and their consumption habits it will negate any problems in the long run.
Click to expand...
Yes, all those delivery truck drivers, transport ships and airline passengers are really going to just stop using gas until the price drops...

You may wish to google "inelastic demand" as it pertains to gasoline and diesel fuel.
 
Metric Mouse said:
Yes, all those delivery truck drivers, transport ships and airline passengers are really going to just stop using gas until the price drops...

You may wish to google "inelastic demand" as it pertains to gasoline and diesel fuel.
Click to expand...
Gasoline has inelastic demand in the short run and very elastic demand in the long run. This is basic economics and is taught in the same class period.

Even a Community college Economics class covers these things.
 
highroller said:
Gasoline has inelastic demand in the short run and very elastic demand in the long run.
Click to expand...
Yes, so in a few years gas and oil prices should drop.

I'm not sure that is going to change Russian plans in the short term...
 
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