US gas prices: Huge support for Biden Russia ban despite ‘Putin spike’ in energy costs
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US gas prices have hit an all-time high at the pump.
American motorists are now paying an average of $4.173 a gallon when they fill up, according to AAA, previously known as the American Automobile Association.
The previous record, $4.10 a gallon, was set in July 2008 – adjusted for inflation that would be around $5.37 in 2022 prices.
AAA data shows that gas prices increased 10 cents in one day and 55 cents compared to last week.
The spike in prices comes as President Joe Biden announced a ban on all imports of Russian oil and gas as part of his administration’s efforts to “continue to hold Russia accountable for its unprovoked and unjustified war on Ukraine”.
“I’m going to do everything I can to minimize Putin’s price hike here at home,” Mr Biden says, adding “Russian aggression is costing us all.”
Meanwhile, the price of Brent crude oil, the international benchmark, has jumped almost eight per cent on Tuesday to $132.79.
White House Press Secretary Jen Psaki said during a gaggle with reporters: “Americans are paying a higher price at the pump because of the actions of President Putin.”
“This is a Putin spike at the gas pump, not one prompted by our sanctions.”
Despite the price rises, one poll shows the move by Mr Biden enjoys the support of 79 per cent of Americans and even 72 per cent of Trump supporters.
Governors call for federal gas tax holiday
The governors of Michigan, Colorado, Minnesota, New Mexico, Pennsylvania, and Wisconsin have come together to call for a federal gas tax holiday.
A letter sent to Democrat and Republican leaders in the House and Senate asks that the federal gas tax be suspended until the end of the year.
“We need to do all we can to put money back in people’s pockets.”
Fact check: ‘Energy independent’
CNN’s Daniel Dale has taken a look at the phrase “energy independent” and what that really means in the context of US oil production and trading.
He notes that it has never meant that the US ever stopped importing oil, but rather it exported more crude oil and refined products than it imported — as it did in 2020, and in 2021.
This balance between exports and imports has been improving since the George W Bush administration due to the expansion of fracking. During this time the US always imported oil as well as exported, and a certain percentage of that always came from Russia.
Poll: 72 per cent of Trump voters support Biden Russia oil ban
A new poll from The Wall Street Journal not only shows that 79 per cent of Americans support the ban on the import of Russian oil even if it means higher prices in the US, but the move by President Joe Biden even enjoys the support of 72 per cent of people who say they would vote for Donald Trump if he ran again in 2024.
Per the Journal:
The new Journal poll showed broad support for Mr. Biden’s energy ban across political breakdowns. The ban had support from 77% of Republicans and 72% of voters who said they would support former President Trump if he ran again in 2024. Among Democrats, 88% said they favored the moratorium on Russian oil imports, including 94% of Democratic men.
The Journal poll surveyed 529 registered voters from March 4-7 about their opinion on halting Russian energy imports. The margin of error was plus or minus 4.3 percentage points.
PepsiCo ‘reluctant’ to pull out of Russia but exploring options
PepsiCo has started exploring options for its Russian operations but executives are still said to be “reluctant” to join the hundreds of other major companies pulling out of the country, according to a report.
Sources told the Wall Street Journal that the soft drinks giant doesn’t want to cease its operations in Russia because of concerns around the toll this would take on both its thousands of Russian employees and its consumers who rely on the company for essentials like milk and baby formula.
Rachel Sharp reports.
PepsiCo ‘reluctant’ to pull out of Russia but exploring options
PepsiCo is facing mounting pressure from consumers, politicians and other Western businesses to take a stand over the invasion of Ukraine
Coca-Cola and Starbucks suspend operations in Russia
Coca-Cola and Starbucks have joined the ranks of major US companies suspending their operations in Russia in protest of the invasion of Ukraine, both firms announced on Tuesday.
Josh Marcus reports.
Coca-Cola and Starbucks suspend operations in Russia
Announcements come after many US companies already cut ties
Recap: Biden announces ban on Russian oil imports
The United States will ban imports of Russian petroleum products into American markets in hopes of choking off funds for Russian president Vladimir Putin’s invasion of Ukraine, US President Joe Biden said Tuesday.
“Today, I’m announcing the United State is targeting the main artery of Russia’s economy — we’re banning all imports of Russian oil and gas and energy,” said Mr Biden, who explained that the ban would mean Russian oil “will no longer be acceptable in US ports”.
Mr Biden said the ban would enable the American people to “deal another powerful blow” to Mr Putin’s “war machine”. He added that such a ban has “strong bipartisan support” and strong support from everyday Americans who’ve “rallied to support the Ukrainian people”.
Andrew Feinberg reports for The Independent from Washington, DC.
Biden announces Russian oil ban and warns of ‘Putin’s price hike’ at gas pump
A ban on Russian oil imports would deal a significant blow to Russia’s government, which is heavily dependent on fossil fuel sales
PepsiCo suspends drinks sales in Russia
PepsiCo has suspended all drinks sales in Russia following Vladimir Putin’s invasion of Ukraine but says it will continue to sell essential products such as baby milk and foods.
Graeme Massie reports.
PepsiCo suspends drinks sales in Russia but will continue to sell other items
PepsiCo has suspended all drinks sales in Russia following Vladimir Putin’s invasion of Ukraine but says it will continue to sell essential products such as baby milk and foods.
US congress reaches deal on $14bn emergency aid to Ukraine
Senate Minority Leader Mitch McConnell announced a deal between the two parties to provide $14 billion in additional assistance to Ukraine on Tuesday while lashing out at Democrats over the speed of negotiations.
Speaking at a news conference, Mr McConnell announced the settled-upon figure before claiming it had been like “pulling teeth” negotiating a higher dollar-value with Democrats, whom he said were willing to block passage of the bill. Some progressives have raised questions about the scale of weapons shipments being sent to militia groups aligned with Ukraine’s government some of whom experts have warned have white nationalist ideologies.
John Bowden reports.
US congress reaches deal on $14 billion emergency aid to Ukraine
Much of the assistance will focus on humanitarian aid, lawmakers say
Majority of Americans back Biden’s Russia oil ban including 72% of Trump voters
Two new polls show that voters overwhelmingly back President Joe Biden’s announcement that the United States will ban Russian oil imports to the United States, with even 72 per cent of former president Donald Trump’s voters backing the move.
The Wall Street Journal released a poll on Tuesday that showed 79 per cent of Americanssupport a ban on Russian oil imports as Russian President Vladimir Putin continues his assault on Ukraine. Similarly, 77 per cent of Republicans, including 72 per cent of Republicans who say they will back Mr Trump if he runs again in 2024, said they support the ban.
Eric Garcia has more details.
Majority of Americans back Biden’s Russia oil ban including 72% of Trump voters
Polls show this comes even if oil prices climb
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