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Nations about whether to ban russian energy. this as the price of gas, not adjusted for inflation, for the price of gas in the united states has reached record levels. joining me now is the head of petroleum analysis for gas buddy, patrick duhan. this breaking news just in. the u.s. banning russian oil imports. what is the significance of that? well, certainly it causes a lot more strife at the nation s refineries that turn oil into gasoline, because they have to jump to other sources that they can find to make their feed stocks, blend stocks into their refineries. so expect a further jump in the price of oil with this announcement. it makes things a little bit harder, you know, but compared to the eu, which imports about 4.5 million barrels of russian crude oil, the u.s. is relatively safe without russian imports. but europe certainly is much more hostage to the russians for oil. the u.s. imports 10% of its ....
Will be pouring out of ukraine in the coming weeks. you re aware, just to touch back again on oil, that russia is threatening to completely cut off energy sales, which would be something to behold. and russia is saying that oil, which, of course, is priced globally, the u.s. only gets a smidge of russian energy, it doesn t necessarily matter, it can hit $300 a barrel for comparison it is less than half that right now and gas is at $4 a gallon. do you think that can happen? yes. i think it is important to realize that both republicans and democrats here in congress are pushing and pushing urgently for us to ban russian gas and oil. we have to realize that it is a global integrated market, as you just put it, it is tough to turn on the taps and increase production quickly. it is not like phoning up amazon and saying deliver this tomorrow. and we are going to see increased gas prices here in the ....
At partisan warfare, will eventually make this miserable and deadly for the russians as the mujahadin did in afghanistan. they will bleed the russians. not only inside the city, but outside the city and in the country side as well. retired brigadier general mark kimmitt, thank you for coming in. i appreciate it. breaking this morning, energy giant shell says it will stop buying russian oil and gas as president biden faces growing calls to end all russian oil imports. what this means for u.s. gas prices. plus, why the letter z has emerged as a symbol for the russians of this invasion. installation in just a day,itb bath fitter doesn t just fit your bath, it fits your busy schedule. why have over two million pepeople welcomed bath fitter into their homes? it just fits. bath fitter. call now or visit bathfitter.com to book your free consultation. ....
Joining us now is senator chris coons, a member of the foreign relations committee, a close ally to president biden. i m wondering, let s talk first about oil. that is one way that it appears the u.s. may be stepping up here. are we going to see the white house announce that they are done with russian energy? likely, yes, brianna. i don t know if that will be today or tomorrow. but two things if i could up front about banning russian oil and gas from the american market. it is a fairly small percentage of the energy coming into the united states, but it is critical for western europe. the strength of our sanctions, of the costs we re imposing on putin for this brutal invasion of ukraine are more successful and more sustainable when they re coordinated. so i respect the fact the administration is coordinating with our european allies and making sure that we have done the ground work to understand how to effectively implement a ban on russian energy. i support the initiative by senator ....
United states, in europe they will see dramatic increases in prices. that s the cost of standing up for freedom. and of standing alongside the ukrainian people, but it is going to cost us and i m already getting calls from delawareans concerned about high gas prices. we need to see the cost and benefit here. to that end, the biden administration officials there are approaching venezuela, which is sort of a maybe not someone that the u.s. wants to be associated with, but nonetheless they are maybe looking to iran to make up a possible gap in sales of russian oil. do you support that? i know they are talking to our close ally and our largest source of oil and gas, that s canada, as well as to american producers and other countries around the world. i think there are good reasons to explore conversations with iran about their nuclear program, with venezuela, about human rights and the american hostages they re holding. but i think we should start by ....