Quote Originally Posted by Seran View Post
President Biden announced a ban on any oil or gas imports from Russia this morning in conjunction with the United Kingdoms. The UK imports only 5-8% of its oil from Russia. Domestically, we important less than 200,000 barrels of oil per day from Russia, a number offset by the 30 million barrels of oil our President is making available from the Strategic Oil Reserve.

As expected, commodities traders went into a frenzy and WTI futures briefly surged past 7% before calming as the reality of our complete lack of an oil shortage set in.

Now, what does that mean for the world as the majority of our European allies aren't sharing in the import ban? Very little. The other major oil consumers of the world continue to take deliveries, but it sends a powerful message of solidarity with Ukraine.

Domestically the President has called out the energy conglomerates for not utilizing their existing oil and gas leases and warned them about using this as an excuse to price gouge at the expense of our nation. We shall see what comes next.
For those of you who are like Dreaven have no reading comprehension skills are confused by the difference of 200,000 barrels per DAY of crude oil and Dreaven's figure of 20M barrels of crude AND petroleum distillates. Per the EIA website, linked here: https://www.eia.gov/dnav/pet/pet_mov...im0_mbbl_a.htm, the US imported 72,608 barrels of CRUDE OIL for the entire year of 2021. Yes, 72,608,000 divided by 365 is less than 200,000 you dumb cuck. 30,000,000 divided by 198,926 barrels per day is FIVE MONTHS of supply of crude oil..

Please, get better at reading and arithmetic Dreaven, your posts are embarrassing.