The 1970s called and they want their decade back!
Unfortunately, we aren’t joking, British energy policy analyst, Ben McWilliams is starting the whispers that “rationing-style measures” for gas and oil will likely be needed.
McWilliams issued his comments after the Biden Administration banned Russian oil from being purchased in the United States prompting other western countries to do the same.
PAIN AT THE PUMP: A UK energy expert predicts wartime “rationing-style measures” will soon be necessary to have a world without Russian oil and gas.https://t.co/Nzfg0scVHR pic.twitter.com/6VH0SCLIGa
— Valiant News (@ValiantNewsLive) March 9, 2022
It’s not just McWilliams, buried in the bottom paragraph of a report published by Reuters they also said that 1970s styled rationing program may be needed.
From Reuters:
If oil producers cannot make up for the shortfall from Russia, then oil and gas prices need to rise to levels where companies and households use less of it. Analysts at Stifel reckon a barrel of oil might have to fetch $200 for behaviour to change significantly. Bank of America thinks this could knock 2% off American GDP growth. Given public outrage about the invasion of Ukraine, consumers could conceivably show solidarity by agreeing to use less oil. This happened in the 1970s when the Netherlands mandated car-free Sundays, for example.
McWilliams did say that if Europe and other countries could find alternative oil suppliers then rationing would not be necessary.
The answer is so simple, America could increase our domestic oil production and a lot of the financial pain would start to go down.
But not Joe Biden, he would prefer Americans buy electric cars while he revs his corvettes engines at his home.
Doocy: “You guys are pushing electric vehicles today….Does he own an electric vehicle?
Psaki: “Presidents…don’t do a lot of driving.”
Doocy: “He’s posted videos where he’s revving the engine of his Corvette in Wilmington. He owns cars.” pic.twitter.com/tU16Gb6dw3
— Curtis Houck (@CurtisHouck) March 10, 2022
Biden was hoping that Iran would give us some oil however, the recent rocket attacks could an end to that.
We are being led by a bunch of clowns.
So Iran is launching missiles at our bases while the current admin is negotiating to remove most sanctions and give them billions of dollars to fund more such missiles? https://t.co/xKyuVUsld1
— AG (@AGHamilton29) March 12, 2022
