Pelosi backs ban on Russian oil imports

[Yo_Mama_Been_Loggin]

Source: The Hill

Speaker Nancy Pelosi (D-Calif.) on Thursday threw her weight behind the growing push to ban imports of oil and gas from Russia as a next-level punishment for Russian President Vladimir Putin's invasion of Ukraine.

The Biden administration has already adopted a series of tough sanctions on Moscow in an effort to end Russia's invasion, which entered its eighth day on Thursday. But the U.S. exempted gas and oil, which provides a significant percentage of the fuel to some European allies and, to a lesser extent, the United States.

For that reason, the administration is treading carefully around the issue, particularly since gas prices have already spike across the country over the last year as part of a larger inflationary trend.

Pelosi said Thursday that she doesn't want gas prices to rise any more but also endorsed the ban on Russian oil in no uncertain terms.



Read more: https://www.msn.com/en-us/news/politics/pelosi-backs-ban-on-russian-oil-imports/ar-AAUz5sd

[jalan48]

1. What would this do to the price of gas in the US?

[Scrivener7]

6. What price would be too high, given the stakes?

I'm not snarking. I have a hybrid, so I don't feel this like other people. Also, I live in an apartment building so I share heating costs with 80 other households. I'll be pinched, but it won't be likely to be more than a reasonably tolerable hardship.

I have no sympathy for people who bought monster pickup trucks for runs to the grocery store given what is happening to the climate, but for a person with a normal car and a home to heat, where do you think the tipping point is?

[jalan48]

10. I totally agree with you but unfortunately too many selfish Americans wouldn't agree

and Biden and the Democrats would bear the brunt of their anger. Waving flags and attending rallies is fine and good but when support affects the bottom line I think most Americans want to have their cake and eat it too.

[Scrivener7]

11. Certainly in the past that has proven true, especially in our addiction to petroleum.

[Ford_Prefect]

15. It will significantly hurt those of us who can just afford where it is now.

I'm sure those "freedom truckers" would have a whole new set of complaints.

That said we need to regulate U.S. oil and gas prices. The "market" is entirely too corrupt.

[jalan48]

18. Yes, I realized after I said "selfish Americans" in another post that many Americans are living

paycheck to paycheck and a big increase in fuel costs will make their lives even more difficult. AOC was interviewed after Biden's speech the other night and she talked about getting the US off of fossil fuels or reducing our need for them. That's the only long term solution I can see as viable. Unfortunately, powerful fossil fuel interests determine our energy policies and politician's on both sides of the aisle won't stand up to them.

[Scrivener7]

2. I can't believe we haven't done this already.

[EarthFirst]

3. LFG!

I’m ready and willing to make whatever sacrifice is necessary to accomplish this goal.

[OhZone]

4. God NO

The cost of gas is killing us here and it's not even as bad as many places.

[Scrivener7]

7. Where is here? And what is the price there?

[OhZone]

8. I'm in NJ -

We're a commuter state. Many of our tech jobs are near NYC, but they often don't pay enough to actually live near them.

My brother and and a friend of mine have had to start to commute again. I think he has 70 miles plus one way to get to work.

He whines about having to eat PBNJ's for lunch and has had to start paying minimum payments on his bills.

My old car pool friend says something similar.

Oh well.

[Scrivener7]

9. I'm not far from you. Outside NYC. I'm commuting 40 miles a day these days

to care for a relative who is temporarily disabled.

I have not noticed the price of gas going that high around here so far. Certainly not into any unprecedented ranges.

[OhZone]

12. I actually think it's cheaper in some places in North Jersey.

We're both at the shore.

I'll ask him to try to fill up up there rather than here.

But if prices go to 5, 6, or 7 $ a gallon, what will we do?

[Scrivener7]

13. I think the price should be that anyway, since that

is closer to the actual cost of gas. It's really only about half the real cost, but at least it's closer to the real cost than where we are now.

But I do see that it will be a hardship, and I do see that I am in an easier position to adjust to the hardship than most people.

I would be all for letting gas go closer to its actual cost and then subsidizing mass transit or giving gas vouchers to those who have to drive but make less than a certain amount.

[Scrivener7]

14. Wheat is going to be another issue. Ukraine and Russia supply 30% of the world's wheat.

[Igel]

19. Affordable gas?

Or dead or oppressed Ukrainians?

Consider it "values clarification". That's the phrase used when I was in elementary school.

[OhZone]

24. if it gets much higher, people here will be struggling to eat and pay bills.

There are peeps in NJ who commute 70, 80, 90 miles one way to work.

My brother's girl friend is considering selling her condo to help him

[keithbvadu2]

5. Oil has the weird ability to change national origin once it gets out to sea.

Oil has the weird ability to change national origin once it gets out to sea.

[PoliticAverse]

17. Unlike NFTs, oil tends to be fungible. n/t

[oldsoftie]

16. The Saudis are also part of the problem; they could increase output.

[Igel]

20. They're not the only country that produces oil. n/t

[oldsoftie]

21. No, but they're close to the top. And OPEC as a whole could as well

[Sgent]

22. It's mostly fungible regardless

especially actually oil (vs gas). All banning Russian Oil will do will make oil more expensive for our west coast and cheaper for China and slightly lower Russia's income, but not by much. Without secondary sanctions on Russian oil users or a ban by China as well then banning oil is mostly hopeless.

We also need to make a deal with Saudi, Kuwait, and Iraq asap.

[manicdem]

23. I thought the US produced more oil than we need?

I could've sworn reading something before where the US started producing more oil than we need. If so then why would we buy other countries oil?