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A growing bipartisan group of lawmakers released legislation on Thursday that would block imports of Russian oil despite President Joe Biden’s opposition to cutting off the shipments, setting up a potential standoff over how to ratchet up punishments against Moscow for its war on Ukraine.
Lead co-sponsors Sen. Joe Manchin (D-W.Va.), who chairs the Energy and Natural Resources Committee, and Sen. Lisa Murkowski (R-Alaska) said they would take the blame for a jump in gasoline prices that would likely follow a move to restrict supply from Russia, one of the world’s top energy producers.
“If there was a poll being taken and they said, ‘Joe, would you pay 10 cents more per gallon to support the people of Ukraine and stop the support of Russia?’ I would gladly pay 10 cents more per gallon,” Manchin said at a press conference.
Manchin knocked the White House for opposing the halt on imports of Russian oil based on fears it would further raise pump prices. Crude oil prices touched their highest level since 2008 early on Thursday, and the average retail gasoline price jumped 7 cents overnight to $3.73 a gallon, up $1 from a year ago.
“They are so wrong,” Manchin said, calling White House Press Secretary Jen Psaki “irresponsible” for reiterating that the White House doesn’t back a ban on Russian oil.
At Thursday’s White House briefing, Psaki told reporters that “we don’t have a strategic interest in reducing the global supply of energy, and that would raise prices at the gas pump for the American people.”
Despite the continued White House resistance to a U.S. oil embargo, House Speaker Nancy Pelosi said this morning that she backs the growing push to ban Russian oil.
Europe relies much more heavily on Russia’s supply, purchasing more than 2.5 million barrels per day, or about half the country’s exports. The EU also gets nearly 40 percent of its gas from Russia. It is not considering stopping those shipments.
“It needs to be reinforced that our legislation is not a global ban on Russian oil and gas,” Murkowski said.
Still, the tightening financial sanctions on Moscow were taking their toll on Russian oil shipments, with traders around the globe declining to take delivery. Prices for at least one type of Russian oil were quoted at $27 a barrel below prevailing crude oil prices.
“The market is shrinking,” Manchin added. “There are very few people buying Russian production. We are not disrupting the world distribution.”
originally posted by: peaceinoutz
A growing bipartisan group of lawmakers released legislation on Thursday that would block imports of Russian oil despite President Joe Biden’s opposition to cutting off the shipments, setting up a potential standoff over how to ratchet up punishments against Moscow for its war on Ukraine.
Lead co-sponsors Sen. Joe Manchin (D-W.Va.), who chairs the Energy and Natural Resources Committee, and Sen. Lisa Murkowski (R-Alaska) said they would take the blame for a jump in gasoline prices that would likely follow a move to restrict supply from Russia, one of the world’s top energy producers.
“If there was a poll being taken and they said, ‘Joe, would you pay 10 cents more per gallon to support the people of Ukraine and stop the support of Russia?’ I would gladly pay 10 cents more per gallon,” Manchin said at a press conference.
So, what do you folks think of this? I would imagine most here are against this bi-partisan Senate move to restrict America from buying Russian oil.
Or maybe not. Where would we get the oil to replace Russian oil? And I just picked up my new car today!
Mr Biden's decision came over the objections of US lawmakers, including members of his own party, who said the project would have created energy sector and construction jobs for American workers.
Manchin knocked the White House for opposing the halt on imports of Russian oil based on fears it would further raise pump prices. Crude oil prices touched their highest level since 2008 early on Thursday, and the average retail gasoline price jumped 7 cents overnight to $3.73 a gallon, up $1 from a year ago.
“They are so wrong,” Manchin said, calling White House Press Secretary Jen Psaki “irresponsible” for reiterating that the White House doesn’t back a ban on Russian oil.
At Thursday’s White House briefing, Psaki told reporters that “we don’t have a strategic interest in reducing the global supply of energy, and that would raise prices at the gas pump for the American people.”
Despite the continued White House resistance to a U.S. oil embargo, House Speaker Nancy Pelosi said this morning that she backs the growing push to ban Russian oil.
originally posted by: Spacespider
Get on the train Americans, you want to pay for the Russia army while supporting Ukraine ?
Time to go green.
originally posted by: Spacespider
Get on the train Americans, you want to pay for the Russia army while supporting Ukraine ?
Time to go green.
originally posted by: dandandat2
originally posted by: Spacespider
Get on the train Americans, you want to pay for the Russia army while supporting Ukraine ?
Time to go green.
Agreed; since the start of the war last week I have switched out all of my family vehicles to fully electric and replaced the oil burner in my house with solar panels. More Americans need to do this in order to bring a quick end to the conflict in Ukraine.
originally posted by: peaceinoutz
a reply to: SleeperHasAwakened
So, what are you saying? He should support this or he shouldn't?
originally posted by: peaceinoutz
originally posted by: dandandat2
originally posted by: Spacespider
Get on the train Americans, you want to pay for the Russia army while supporting Ukraine ?
Time to go green.
Agreed; since the start of the war last week I have switched out all of my family vehicles to fully electric and replaced the oil burner in my house with solar panels. More Americans need to do this in order to bring a quick end to the conflict in Ukraine.
I commend you. That's a great sacrifice!