President Biden announced a ban on the import of Russian oil, natural gas, & coal to the U.S.

[Joinfortmill]

https://heathercoxrichardson.substack.com/p/march-8-2022?s=r

"Biden did this under pressure from Congress, which was preparing its own bill for this outcome. The administration hesitated to take this step independently from other allies and partners...."

According to a new Reuters poll, 63% of Americans approve of cutting off Russian oil despite expected price hikes. Still, rising gasoline prices are a big problem, and the optics of cutting off any oil supplies right now will hurt the administration.

Meanwhile back at the oil ranch: "Financial Times reported that the seven top oil companies, including BP, Shell, ExxonMobil, and Chevron, would return a near-record $38 to $41 billion to shareholders through stock buybacks, after distributing $50 billion in dividends..."

[D_Master81]

1. How long will people support it?

63% say so now. If the war in Ukraine stretches on through the summer and the national average for gas is $5+ we’ll see.