Yesterday, we reached a record high average gas prices in the United States.
Today, Biden is expected to announce a ban on Russian oil, which makes up 10% of our oil imports.
So, yeah, prices are about to go through the roof.
From CNBC:
The U.S. is expected to announce as early as Tuesday that it will ban imports of Russian oil, a person familiar with the matter told CNBC.
The White House and the Department of Energy did not immediately respond to requests for comment. But the White House on Tuesday morning updated President Joe Biden's schedule for the day to include an announcement of new U.S. actions intended to "hold Russia accountable for its unprovoked and unjustified war on Ukraine."
Biden will deliver those remarks from the White House at 10:45 a.m. ET, the updated schedule said.
In Biden time, that means somewhere between 11:15 and 3.
Ukrainian president, Volodymyr Zelensky, has been calling on the US and Europe to stop importing Russian oil ever since the Russian invasion of Ukraine.
Still, even with the United States possibly banning Russian oil, the Biden Administration has shown no interest in increasing domestic production of oil.
Biden's Transportation Secretary, Mayor Pete, even went so far as to say that Americans could shrug off expensive gas prices by buying electric cars.
While these sanctions are aimed at taking down the Russian war machine, the one known effect of this sanction will be higher prices at the pumps for everyday Americans.... which this administration has made clear they don't respect or understand.
Go ahead and fill up again before things get worse!
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