Biden’s Russian oil imports lack strategic sense

President Joe Biden.

The Golden Hammer Staff Reports

Washington, D.C., March 7 – President Biden’s policy regarding the importation of Russian oil makes no sense whatsoever with the exception that his own domestic energy policies have placed the United States into a strategic straight jacket.

Each day the United States imports more than 672,000 barrels of oil from Russia. In addition to shipping charges, that means the United States pays Russia $77.28 million per day, and a total of $28.2 billion per year, at the current price per barrel of oil.

Continuing to buy Russian oil makes no sense whatsoever. Oil is Russia’s major export and the key to Russia’s economy. All of the sanctions in the world imposed on Russian leaders and the Russian economy will only have limited impact, as long as the United States and Europe continue to buy Russian oil.

Even House Speaker Nancy Pelosi, a wild-eyed leftist Democrat from San Francisco, has called upon the White House to ban the importation of Russian oil. Of Russian oil imports, Pelosi said this past Wednesday, “I’m all for that. Ban it.”

In response, however, White House Press Secretary said,

“Well, our objective and the President’s objective has been to maximize impact on President Putin and Russia, while minimizing impact to us and our allies and partners.

“And I know you’ve heard me say this a few times before, but 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, around the world, because it would reduce the supply available.  And it’s as simple as: Less supply raises prices.  And that is certainly a big factor for the President in this — at this moment.”

That’s the greatest sign of the fallacy of the Biden administration: they cave in to popular leftist proposals without considering the long-term strategic import of what they’ve done. In this instance, clearly the Biden’s own domestic energy policies have directly harmed American consumers as well as tying the hands of the administration in imposing the truly harshest sanction of all, banning Russian oil imports.

The Biden administration has pandered to environmentalists and far-left progressives who seek to move the American economy away from consumption of fossil fuels. As a result, Biden canceled the Keystone XL pipeline project and the administration has made the leasing of offshore oil a regulatory quagmire making it difficult for oil and gas exploration to proceed. A “clean energy” policy looking 30 years into the future doesn’t work for American petroleum and electrical necessities right now, especially in the difficult work of strategic choices, such as the current situation where American foreign policy can be “life or death” to hundreds of thousands of Ukrainians.

On this issue, Pelosi is correct. The United States should ban Russian oil imports during the war in Ukraine. For this Nation to have a policy of punishing Russia while continuing to reward Putin and Russia with purchases of their most valuable commodity makes no sense.



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