The G7 plan to create another economic sanction against Russia by capping the price anyone could pay for Russian oil has a serious downside. If Russia slows down the export of oil, global oil prices will jump dramatically. That policy outcome would mean a massive increase in the price of gasoline for U.S. consumers. Because the consequences are horrible, that’s precisely the reason Joe Biden might push to have the Russian price cap. Every policy Joe Biden has historically supported, has been the exact opposite of what should have been done. Biden has a profound and innate ability to […]
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