The Threat of Russian Invasion of Ukraine Sending Oil Prices Soaring

Editorial Staff - February 14, 2022

With the current world uncertainty and all eyes focussed on the Ukrainian border along side of Russia. And the fact that Russia is the world’s third-largest oil producer, and if a conflict in Ukraine leads to a substantial decrease in the flow of Russian barrels to market, it would be perilous for the tight balance between the world supply and its demand.

It is those dynamics which have led traders in recent days to price in a sizable geopolitical risk premium, according to analysts. I don't know about you but I paid 20 cents more a gallon to fill up my car yesterday than I did just over a week ago. Like the price of gas wasn't already high enough in most of America.

Crude oil prices, which haven’t topped $100 a barrel since 2014, jumped to an eight-year high on Ukraine concerns Friday claimed the Wall Street Journal.

Of course our unbiased (LOL are you kidding me) media seem to forget Biden’s effort to cut oil production in the U.S. From August: It is not a revelation to discover that the Biden administration intends to phase out the U.S. oil and gas industry. But it is astonishing to see how quickly it is moving to accomplish this, while sending production abroad to producers in Russia and Middle Eastern nations whose commitment to reduce greenhouse gases is at best questionable claims Forbes in their article (Forbes).

And now Europe finds itself in desperate need of gas from America (WSJ) but at what cost to us as Americans?