President Joe Biden announced that he is banning all imports of Russian oil to the US, which will indefinitely exacerbate skyrocketing fuel prices in America.
“We’re banning all imports of Russian oil and gas and energy,” Biden said Tuesday. “That means Russian oil will no longer be acceptable at US ports, and the American people will deal another powerful blow to Putin’s war machine.”
Biden subsequently told Americans they can expect even higher fuel prices due to his decision while simultaneously claiming his policy decisions thus far haven’t led to record-high fuel prices ($4.17 per gallon).
“The United States produces far more oil domestically than all of Europe,” Biden continued. “We can take this step when others cannot, but we’re working closely with Europe and our partners to develop a long-term strategy to reduce their dependence on Russian energy as well.”
Biden also says that America is a net exporter of energy, which is technically accurate. However, due to Biden’s abysmal anti-oil policies, gas prices would become beyond unaffordable due to the lack of surplus available should America try to be totally energy independent without additional production — which is why the US was importing cheaper oil in the first place.
Indeed, rather than expanding America’s oil industry, Biden is now courting Venezuela, Saudi Arabia, and Iran, all of whom have horrible human rights records (because of climate change or something).
None of this makes any sense from a pro-America perspective, of course.
Regardless, if Biden is going to seek cheap oil abroad, he could also go to Canada for conflict-free energy. But he isn’t going to do that, either. Indeed, it was one of Biden’s first orders of business to cancel the Keystone XL Pipeline, which would have supplied America with roughly 830,000 barrels of oil per day, nearly 200,000 barrels more than was being provided by Russia.
Additionally, many believe Biden’s decision today will push Russia even further into the arms of China and the other adversaries of the West, which now threatens to disrupt the global system that has relied on the stability of the US petrodollar.
In the long term, the consequences of Biden’s decision today will send shockwaves throughout the world, taking inflation to near Great Depression levels and may ultimately be the nail in the coffin for American economic hegemony.
