White House Considering Ban On Russian Crude Which Pinoeer CEO Warns Would Send Oil To $200

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Assessment: Notice that the Biden team has no plan to replace the 600,000 barrels of oil that the United States buys from Russia each day except for relying on the signing of the Iran nuclear deal. 

Another day, another flashing red headline that the White House is considering a ban on Russian oil imports – something it has repeatedly said earlier this week – although it has yet to make a decision:

  • *WHITE HOUSE CONSIDERING BAN ON RUSSIAN OIL IMPORTS
  • *WHITE HOUSE SPOKESPERSON SAID NO DECISION HAS BEEN MADE

The news sent WTI spiking as high as $114.64.

A fool has no delight in understanding,
But in expressing his own heart.” Proverbs 18:2

The Biden administration also said it was looking at options they can take right now if they decide to cut the U.S. intake of Russian energy, say Cecilia Rouse, chair of the White House Council of Economic Advisers.

“We are considering a range of options but what’s really essential is that we maintain a steady supply of global energy,” Rouse says at briefing, adding the U.S. does not import a lot of Russian oil (but it does import enough for it to be meaningful).

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