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GAS PRICE HIKE INCOMING? US Will See European Energy Crisis This Winter: Janet Yellen

U.S. Treasury Secretary Janet Yellen told CNN that the European Union’s planned suspension of Russian gas exports may cause Americans more pain at the pump this winter. This comes after a proposed price cap on Russian energy earned the support of the G7. Batya Ungar-Sargon and Robby Soave discuss. #Russia #Oil #Gas #Ukraine

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  1. Norway’s Prime Minister Jonas Gahr Store voiced doubts on Monday about a possible price ceiling on natural gas imports proposed by a majority of EU member states. “We approach discussions in an open spirit, but we are skeptical of a maximum gas price,” he said in a statement following a phone call with European Commission President Ursula von der Leyen.

    The PM elaborated that “A maximum price does not change the fundamental issue that there is a gas shortage in Europe.”
    The European Union rejected the idea of introducing a ceiling on prices for Russian gas – an agreement could not be reached at a meeting of EU energy ministers.

    Recall that initially it was about setting the maximum price only for Russian gas. Many high—ranking Western officials, for example, the head of the European Commission, spoke "for" the initiative.

    However, when the majority of EU energy ministers announced the need to introduce a common ceiling (which will affect Norway and the United States), the situation with international support for new restrictions has radically changed.

    According to Bloomberg, LNG exporters from the United States opposed it. They fear that the restrictions will reduce their income and declare a "desire to prevent distortion and disruption of energy markets."

    However, this fear did not prevent them from supporting the introduction of a ceiling on prices for Russian oil.

    Norway refused to lower the gas price for the EU even earlier. European importers demanded discounts from the kingdom against the background of the energy crisis.

    But the Norwegian Minister of Oil and Energy said in August that the country operates on a commercial basis and will not impose contracts on businesses at prices below the market.

    The West is united in its opposition to Russia… But exactly until the moment when their own opportunities to earn an extra dollar are not affected.

  2. Well the elections are this November. So whatever happens after that is alright. Whether it's Republican or Democrat doesn't matter. They just care enough to don't allow the energy prices to skyrocket until they get there seats

  3. Punish russia while china buys gas off them at a deal and the market pushes prices through the roof so everyone but US makes out. So glad I can feel good filling up my car with with 5$ per gal gas!

  4. This is one reason energy independence is so important. Note that Europe said they would have a "price cap", but not actually stop buying Russian oil. That's because, unlike in the US, Europe cannot meet its own energy needs. This is due in large part because of Climate Change policies that outsourced energy production to Russia.

  5. One other point: the ruble is doing fine and Putin has reached record energy profits since sanctions began. Why tf are we still doing sanctions when they clearly aren't working? I'm not trying to punish Putin 10 years from now for the invasion. If they had any meaningful effect in the present, maybe a conversation could be had (not by me, but it would at least make more sense.) Sanctions are an act of war imo and their goal is to hurt the little people! How is that humane? What does the average Russian have to do with a Ukraine invasion? Not much. The ripple effects of the sanctions across Europe and here in the US are also another reason to decry them. The only people affected are those who have no say in the matter of war.

  6. To Robbie’s price predictions question: Drawing down of the strategic reserves ends shortly after the midterms if I recall. I’ve been told they only contribute Pennie’s, but it sure seems like prices started dropping when we started drawing from them.

  7. A gallon of reg unleaded has been 5.59+ a gallon in my town (literally every station) for months now. And my car gets lousy gas mileage. It kills my soul every time I have to put gas in the car.

  8. American 🇺🇸!!!!
    Make sure you buy oil to heated your home next 5 months!!!
    46 President and Team policy’s.
    Let if far left parties going blame Trump again!!!!
    Fox News and NewsMax please keep balance and proof for us!!!
    True Americans citizens 🇺🇸!!!
    want the true before Nov 2022 and Nov 2024!!!!!!
    Remember American 🇺🇸!!!!!
    Don’t blame We The People want Balance, Law and Order!!!
    God bless US All 🇺🇸🇺🇸🗳🗳🗳

  9. It's not the end of the administration. He was put into place. If not him then someone else will be put in that position. The elite are done playing pretend with us commoners.

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