I did not include anything about Ukraine and Russia in my title because the rise in gas prices began before Russia invaded last week.
The war is not helping since Russia has a huge hand in the world’s energy sector. It might even get worse if the Biden administration bans Russian oil.
I’d get on board with that if our politicians weren’t addicted to foreign oil and energy because they won’t open new oil lines here.
Keystone XL, anyone? Oh, yeah. The left has to keep up its climate-friendly image while purchasing oil and gas from countries that dig for the items without a care about the environment.
Until then we have to suffer at the pump:
Friday’s prices, up 11 cents from Thursday, marked the single largest day increase, since 2016, according to AAA data.The average price of a regular gallon of gasoline increased to $3.84, which steadily climbed over the week from $3.61 on Monday, according to AAA data.Prices are up $1.08 compared to this time last year, inching closer to costing $4 on average for a regular gallon of gasoline.
Oklahoma usually has cheap gas. We’re paying about $3.80 a gallon for non-ethanol gas. It’s about $3.30 for gas with ethanol.
Oil is at $113 a barrel.
The West attempted to look like it cared about Ukraine with massive sanctions on Russia. Buried in reports showed the loopholes allowing the countries to keep purchasing Russian oil and gas.
Secretary of State Antony Blinken admitted the U.S. has “no strategic interest” in sanctioning Russia’s energy sector:
Secretary of State Antony Blinken downplayed the impact that energy sanctions on Russia would have, arguing any such sanctions would hurt America and its allies more than they would Moscow.“The sanctions are designed … to have maximum impact on Russia and Putin while minimizing harm to us and our partners,” Blinken told reporters. “There’s no strategic interest in reducing the global supply of energy.”“The immediate effect to raise prices at the pump for Americans and to pad Russian profits with rising profits,” he argued, adding that the U.S. is working to undermine Russia’s ability to maintain a role as a leading energy provider.U.S. lawmakers have expressed bipartisan support for cutting imports on Russian oil and gas.
That second part confuses me. You don’t want to sanction Russia’s energy sector because it would harm the American people but you want to undermine Russia’s role and potentially cut or ban imports.
You cannot have your cake and eat it, too.
Leslie kept track of energy giants cutting ties with Russia, including projects in the Arctic Circle. I wonder how long that will last since a lot of their product comes from those projects. The Arctic Circle is rich in oil and gas.
We cannot ban or limit Russian oil without harming ourselves. The Biden administration and its friends in the MSM are once again trying to blame the Russian invasion of Ukraine for inflation and high gas prices.
Don’t fall for it. Demand we have the Keystone XL pipeline.
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