Transcripts for CNN CNN Newsroom With Pamela Brown 20220313

CNN CNN Newsroom With Pamela Brown March 13, 2022 01:42:00

driving as much or even economic activity around the world weakens. that's just the hard reality of the global oil market. when you have this kind of supply shock, it either goes away or it drives prices higher until demand falls. >> all right. i want to get to this viewer question that we have for you. this viewer is asking if russia only accounts for roughly 3% of our oil imports, then why is the price of gas affected so much? we still have roughly 97% of our imports available. i know you sort of touched on this. if you would expand on what you were saying about that, bob? >> you bet. and it's important to understand. whether or not we import oil or export oil -- and united states is pretty much self-sufficient. we're actual i a net exporter -- that doesn't matter for the price of gasoline. it doesn't matter. why? because oil is traded globally and is fungible.

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