CTH: Gasoline is now at the highest price ever recorded. The average cost of a retail gallon of unleaded gasoline hit $4.173, according to the American Automobile Association, with many regions now far exceeding that price. It is not uncommon to see $5/gal gasoline in many areas.
Against this backdrop, Joe Biden announced today that his administration is banning the import of oil, liquified natural gas (LNG) and coal from Russia. [We do not import LNG or coal from Russia, so that political point is moot.] You can read the executive order HERE.
The executive order also bans any U.S. entity from investing or facilitating the investment of Russian energy development. That section explains why there were earlier reports of Oil companies withdrawing from Russia. They were obviously given a heads up.
The way the order is currently written, and a lot of it has to do with extremely generous interpretations by the U.S. Treasury Dept., it would appear that any energy company currently operating in the U.S. cannot simultaneously be operating in Russia (or be part of the subsidizing and insurance network that supports energy development in Russia). The Treasury interpretations here are fraught with complexity.
The part that matters is boiled down in this section:
(i) the importation into the United States of the following products of Russian Federation origin: crude oil; petroleum; petroleum fuels, oils, and products of their distillation; liquefied natural gas; coal; and coal products;
(ii) new investment in the energy sector in the Russian Federation by a United States person, wherever located; and
(iii) any approval, financing, facilitation, or guarantee by a United States person, wherever located, of a transaction by a foreign person where the transaction by that foreign person would be prohibited by this section if performed by a United States person or within the United States.
(b) The prohibitions in subsection (a) of this section apply except to the extent provided by statutes, or in regulations, orders, directives, or licenses that may be issued pursuant to this order, and notwithstanding any contract entered into or license or permit granted prior to the date of this order. (LINK)
The European Union cannot cut themselves off from Russian oil and natural gas. Europe relies on imports for 90% of its gas and 97% of its oil products. Russia supplies 40% of Europe’s gas and a quarter of its oil. {source} Essentially, China and the EU will continue to be the largest purchasers of Russian energy. more here
If only there was somewhere else that the world could get Oil, Natty Gas, Propane, Uranium, & Crown Royal?
Hmmmm.
Jimmy Carter 2.0
Biden Announces Ban on Russian Oil Imports
Oh yeah? Prove it!
Not a far fetched demand seeing as how everything that comes out of that angry, old bastard’s mouth is a damned lie!!
Don’t forget, that if it weren’t for repuglicans we wouldn’t be in this fucked up situation.
IMPEACH the senile pervert!t
And then he said “I can’t do much right now” about record high gas prices because “Russia’s responsible.” They think they can get away with this, lets see what happens.
NO RUSSIAN OIL! That goes real well with “Let’s Go Brandon”! Or even “Joe ‘FUCKING’ Biden…GO TO FUCKING PRISON”, and take that commie mofo O’FuckingBama with you!
I just got back from the gas station here in Yuma and yesterday it was only $3.99 for the regular piss water unleaded…today it was $4.17.
There was this older lady at the adjacent pump gassing up to go to her second job cleaning houses, and she told me she didn’t even vote in the last election, but by God she is in this next one. AND any of her friends or relatives that thought it was a good idea to vote for biden will no longer be welcome in her home…or her life!
I think the democRAT party has made more new Republicans than that commie bint Ronna McDanniel (aka commie romney’s niece)!
Can we talk about the $3.5 Million dollars Hunter Biden got from the Moscow mayors wife yet?
I believe Jimmy Carter has held on for so long specifically so he could see his presidency no longer considered the worst in modern history.
I totally yearn for the days when government responded in favor of the people, today, I urine on the governments reaction against the people.
The original Time magazine cover of Putin mirrored in the husk’s so kewl aviator shades didn’t show what he saw. A dementia riddled, shit for brains pedophile with a walker & wearing Depends under the suit the good doctor picked out for him, just waiting for his day to end. Then off for tapioca pudding & a nice nap. It’s no wonder that we are circling the drain at an ever quickening pace.
“Never underestimate Joe’s ability to f*ck things up.”
My retirement account is NAGATIVE -8.20% and falling more every day. FUCK YOU BIDEN, FUCK YOU!!!
You moron, you just cost me two years of living and it’s not hit bottom yet you stupid fucking asshole.
Eat shit and die already!
My God democrats are criminally stupid. Now China, India, and most of Asia (and probably a lot of Europe) will now get Russian oil on the cheap, causing their economies to boom. China will buy up all the Russian securities dumbass Americans are dumping, and Russia will start confiscating US owned assets in Russia (and eventually Ukraine). And the average US citizen gets completely screwed.
It is literally their goal to destroy the wealth of this country, and their base are a bunch of psychotic fat women with neon hair and dumb ass faggots.