Muristek
Executive order signed as invasion continues, gas prices skyrocket WHITE HOUSE PHOTOIn announcing the U.S. ban on Russian oil imports, President Joe Biden promised he was taking steps to minimize the impact on gas prices.
Despite record-breaking gas prices, President Joe Biden announced a ban on Russian oil imports on Tuesday — the 13th day of the invasion of Ukraine.
“That means Russian oil will no longer be acceptable at U.S. ports and the American people will deal another blow to (Vladimir) Putin’s war machine,” President Biden said at the White House.
He said the ban would likely mean a further increase in skyrocketing gas prices, but said the move was necessary to put further economic pressure on Russia.
In addition to oil, the ban, which came in the form of an executive order signed by President Biden, extends to Russian liquefied natural gas and coal. The executive order also prohibits new U.S. investment in the Russian energy sector and bans Americans from financing foreign companies investing in energy efforts in Russia.
The president said he was doing all he could to minimize the ban’s impact at the pumps. His measures include a plan to release 30 million barrels of oil from the Strategic Petroleum Reserve as a part of a global effort to protect consumers and businesses.
“The United States made this decision (the ban) in close consultation with our Allies and partners around the world, as well as members of Congress of both parties,” the White House said in a statement Tuesday. “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 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 (time) taking active steps to limit impacts and global energy markets and protect our own economies,” the White House said.
Also on Tuesday, Shell announced it would immediately stop buying Russian oil on the spot market and, “in a phased manner,” all Russian oil, oil products and natural gas.
And Britain said Tuesday it would stop buying Russian oil by the end of this year.
In the U.S., gas prices are breaking records set in 2008 during the recession.
According to the American Automobile Association, the national average Tuesday was $4.173 a gallon. California, which consistently has remained above the national prices, saw an average price of $5.444 a gallon.
In Santa Barbara County, the average price Tuesday was $5.404 a gallon, and neighboring Ventura County was seeing an average of $5.458 a gallon. Further to the south, Los Angeles County was up to $5.518 a gallon, and to the north, San Luis Obispo County, which has typically been higher than Santa Barbara County, was at $5.602 a gallon.
The U.S. gets less than 10% of its foreign oil imports from Russia, according to data from last year. That has amounted to nearly 700,000 barrels of oil a day from Russia, according to the White House.
Europe gets much more of its oil imports from Russia — 27%, in fact, according to the New York Times.Stressing the need for energy independence, 25 Republican governors Tuesday called on President Biden to make American oil production a priority.
North Dakota Gov. Doug Burgum said his state alone could produce enough oil to offset any losses of Russian oil if restrictions against production were eased on federal lands.
Meanwhile, the exodus of Ukranians continues into Poland and other neighboring countries. According to the United Nations, the number of refugees now stands at more than two million people.
email: dmason@newspress.com
Bethany Blankley of The Center Square contributed to this report.
INSIDE
The California Assembly passed a resolution from Assemblymember Steve Bennett, D-Ventura, in support of Ukraine. A2.
The post President Biden bans Russian oil appeared first on Santa Barbara News-Press.