Right now, Biden is trying to decide if we should ban Russian oil and Natural Gas or not. America receives about 7% of it’s oil from Russia, but many of America’s allies buy a lot of their energy from Russia.
About 40% of Europe’s natural gas comes from Russia. Europe will have a lot harder time getting rid of Russia’s energy.
Since the start of this conflict, oil has gone from under $100 to $130.
We’ve seen gas prices skyrocket in America, but this is just getting started.
Some experts think that this war could last 10-20 years.
Russia is causing havoc around the world, and that is exactly what Putin wants.
As he continues his invasion into Ukraine, expect our energy costs to continue to go up.
It is going to be a costly summer, and maybe a costly 20 years.
Let’s hope not.