This is an analysis site not a news site but this particular news is sufficiently significant I feel the need to comment on it. President Biden has just announced a complete ban on imports of Russian oil and gas in the United States:
Today, President Biden will sign an Executive Order (E.O.) to ban the import of Russian oil, liquefied natural gas, and coal to the United States – a significant action with widespread bipartisan support that will further deprive President Putin of the economic resources he uses to continue his needless war of choice.
The United States made this decision in close consultation with our Allies and partners around the world, as well as Members of Congress of both parties. The United States is able to take this step because of our strong domestic energy infrastructure and we recognize that not all of our Allies and partners are currently in a position to join us. But we are united with our Allies and partners in working together to reduce our collective dependence on Russian energy and keep the pressure mounting on Putin, while at the same taking active steps to limit impacts on global energy markets and protect our own economies.
Unlike some I would argue that the president has the authority to take such an action. International trade is foreign policy.
I do have some questions that go unanswered in the “fact sheet”:
- What about Hawai’i? Hawai’i’s imports of Russian oil and gas account for 25% of our total imports of oil and gas from Russia and, as previously documented, Hawai’i is heavily dependent on Russian oil and gas not just for gasoline but for generating electricity.
- How will they tell it is Russian oil and gas? Are they just creating a substantial opportunity for middlemen not as scrupulous as we?
Also keep in mind that the U. S. is Russia’s tenth largest customer. China is its largest with Netherlands, Germany, and Belarus filling the next three slots. Belarus is a lost cause. What about China?
Notice the pattern.
On Feb 22nd, the US said it sanction Russia from Swift. Then it did.
The US said it wouldn’t sanction Russia oil / energy, then it did.
US / NATO said it wouldn’t transfer fighter jets to Ukraine, now they are.
The US said no NATO no fly zone. Now “foreign policy heavyweights” are calling for a “limited no-fly zone”.
With all the claimed actions so far; they were originally not on the table for a Ukraine war because the possible downsides were considered worse then the upside.
I don’t think the pre-war calculations are wrong; policy makers are in some kind of “double or nothing” game.
As suggested in the body of the post, I don’t think the administration has thought the implications of a ban on Russian gas and oil through. Now they have several alternatives:
1) back-pedal on the ban at least a little
2) deal with the implications
3) let the chips fall where they may
My guess is that they’ll try to do all three at once. The worst case scenario, of course, is that policymakers are hurtling willy-nilly towards nuclear war.
If in 3 you mean deal with it by promoting N American production then yes.
Can anyone name one thing the Biden Administration has done since it took office to promote N American production?
Pertinent article from Financial Times.
https://archive.ph/ISE81/again?url=https://www.ft.com/content/e45ab85c-f211-46d4-ba44-6b30de548ab4
Steve
Anyone else see the article about the Navy’s fuel tanks leaking into the water supply and so plans are being made to drain those tanks. Wonder where all that will go? While some will be bunker grade , will be a lot of jet fuel.