The United States is now buying more Russian oil than before the outbreak of war in Ukraine. Up to 43% more daily. But what about the penalties? They don’t start for two weeks. You can read more by clicking here.
Some people in Washington talk out of both sides of their mouths, but you already knew that!
We lose 100,000 barrels
What happens when the sanctions come into effect? We will then lose 100,000 barrels of oil per day. What will this mean when I go to buy gasoline? This could well mean that you will pay a lot more than you pay to fill up this week. An increase in cost per gallon was already expected for the summer driving season. Also with the switch to summer mixes.
Grocery prices will also continue to rise
Oh, and another log is thrown on the fire called inflation. The Securities and Exchange Commission will require companies to list carbon emissions along supply and production lines. If your company sources rubber from Indonesia, your bean counters will need to account for the climate footprint of the supply plantation. Click here to see some examples of how it will work and how it will increase the cost of goods and groceries even more.
One way or another, the Biden White House thinks you’ll be okay with whatever sacrifices you’re being asked to make because you want to save the planet. As for saving Ukraine, that can wait after April 22n/a.
15 ways to help people in Ukraine right now
As Americans watch events unfold in Ukraine, many are wondering how they can help. Below is a list of organizations responding to the crisis in Ukraine along with information on how you can support their various missions.