President Joe Biden and his European allies could take one move to strike at the heart of Russian President Vladimir Putin’s regime and its wealth: Imposing direct sanctions on Russia’s oil and gas industry.
“My administration is using every tool at its disposal to protect American families and businesses from rising prices at the gas pump,” Biden said at a press conference Thursday, adding that his newest sanctions were specifically designed to allow Russian energy payments to continue. Americans are feeling that pain in their wallets as well. U.S. gasoline prices are up nearly a $1 a gallon from last year, an increase that has given Republicans an opening to pummel Biden and his climate change policies as a threat to voters’ wallets. The White House has been acutely aware of the political and economic risks from its sanctions.
“The U.S. and EU will levy sweeping sanctions but they will not halt Russian energy exports, as that would cause a recession in Europe,” investment research firm BCA Research said in an analyst note. “European political leaders would likely fall from power in the coming years if there were a full-scale energy crisis.”
“My administration is using every tool at its disposal to protect American families and businesses from rising prices at the gas pump.”help offset Russia’s power in the long term, it But the United States would need to raise its production rate of 12 million barrels a day by nearly 50 percent to replace what’s coming out of Russia, a massive jump.“The options are limited in the short-term,”
His first day in office Brandon put sanctions on America’s oil and gas industries. What kinda of sick leader looks to destroy their own energy sector?
Yep if keystone was allowed. It would have been less dependant on it.
In part true Boycotting every corporation doing business with the Tsar is a different matter
This is because you are too lazy to produce. You lost the ability while still wanting to behave like a boss. Russia knows it and China knows it.
Shepherd Smith said last night on CNN: How can Europeans countries become dependent on Russia for energy & not know Putin is going to screw them?
As long as US needs oil, we MUST NOT SHUT DOWN our oil production. Carbon Emissions is about the same, be the oil produced here in US or in MID-EAST. “GO GREEN” must be done SLOWLY & coordinated GLOBALLY.
Thanks John Kerry and Joe Brandon
If only we knew anyone that knew how to make a car or bike that ran on electricity.
More reasons to END OUR DEPENDENCE ON OIL
USA is continuing to purchase Russian oil from Putin TODAY! POTUS must open the KeystoneXLPipeline NOW as a sign of strength which will dramatically hurt Putin. We have the resources under our feet & not using it under these circumstances is criminal. Wake up POTUS !!
It occurs to me that the most powerful sanction against Putin would be to restore robust U.S. oil production, drive down the cost of oil and so deprive Putin of the cash flow he needs to bankroll his adventurism.
Net exporter to net importer
Ya think? Good thing we shut down that dangerous fracking! Let’s go Brandon!
If only we had our own oil and gas reserves and were drilling