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Why is United States gasoline expensive if we buy so little fuel and oil from Russia? Given that energy items are priced based upon world commodity exchanges, the pricing in other places worldwide ultimately impact rates in US markets. The response lies in the globalization of oil pricing. Even if USA never bought any oil…
Oil sanctions against Russia will be difficult to attain since Russia is among the leading 3 oil producers, in addition to USA and Saudi Arabia, and replacing the oil currently provided by Russia will be impossible in the short term and will require challenging choices in the long term. An immediate world boycott of Russian…