Despite what you may have heard, US oil production is up, by some 5%, since President Biden took office. We are at capacity for LNG exports to Europe (till more LNG terminals are built). We are exporting oil AND importing (including from Russia) - this is how oil markets work. 2/
I think we should stop importing Russian oil now. But if that's all we do, others will buy it. So if we want Russia to make less money, we'd have to try to shut down their exports to everyone. 3/
Here's the harsh reality: Russia is the second largest oil producer and exporter in the world. You can't take that much oil off the market overnight -- no matter how much we drill at home -- without an even bigger spike in gas prices in the United States. 4/
You can be for the Keystone Pipeline. You can put hundreds of oil rigs off the Jersey shore (though I'l fight you) and lease all our public lands to drillers. But it would take years to ramp up our already record production to begin to make up for shutting down Russia. 5/
If we really want to be serious about denying Putin oil $, count me in.
But Republicans & Democrats had then better be ready to explain to Americans TOGETHER what this will cost us and that the sacrifice is worth it.
Don't demand an oil embargo & then politicize gas prices. 6/
Meanwhile, Democrats should support doing what we can to increase oil production in the short term.
But Republicans should acknowledge: the ONLY way to defeat Russian energy blackmail is to end our dependence on oil and make America the world's clean energy superpower.
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I'm just returning from the Munich Security Conference, where national security leaders from the US & Europe gathered to confront the Ukraine crisis. Some good news: I've honestly never seen more unity among our allies, or our two parties in Congress, on any global issue. 1/
The war Putin is threatening would be a totally unprovoked attack by a dictatorship on a democracy -- a decision by one man to kill thousands of people and to seize the territory of a sovereign country because it won't bend to his will. 2/
Putin appeasers and apologists say we could avoid a war by giving in to his demand that Ukraine never join NATO. They forget Ukraine made that promise in 2010, and Russia still invaded it four years later. brookings.edu/opinions/ukrai… 3/
1/Virtually everyone agrees on the cause of the harmful inflation we're experiencing: people have more money to spend, but that demand is chasing too little supply.
But who we blame and how we propose to solve it reveals a lot about our political divide.
2/It's an incredible fact that despite one of the worst economic crashes in our history, average Americans (not just the super rich) have more household wealth to spend today than they did before the pandemic.
3/Government spending -- bailing out small businesses and state & local governments, helping people who lost jobs, stimulus checks & the child tax cut -- worked in rescuing our economy, and left Americans with the extra cash we are now trying to spend (i.e., higher demand).
In March, @RepSpanberger and I urged a big increase in the budget of a little known agency -- the Treasury Department's Financial Crimes Enforcement Network (FINCEN). Yesterday, the Biden administration agreed and formally asked Congress for a 50% boost!
Here's why this matters.
Last year, we enacted a bill I'd been championing for years to ban the anonymous shell companies foreign kleptocrats and corrupt Americans use to hide their money. The bill requires FINCEN to maintain a registry of the true owners of all companies based in the US.
More than half of Russia's wealth has been stashed abroad, including in the U.S., in fake companies and anonymous real estate. Tracking and cracking down on that corruption, part of FINCEN's mission, is key to countering dictators like Putin & Xi Xinping. nytimes.com/news-event/she…
I walked through the Capitol building today with @RepDeanPhillips to thank the Capitol Police officers who faced down the mob on Wednesday with too little support.
I also just want to be in the Capitol as much as possible. It feels like holding sacred ground.
Here are some images from the Capitol. Officer Sicknick's bicycle. A broken window. The entry to the Speaker's lobby where shots were fired. Some words of wisdom.
One officer who is also an Army National Guardsman told us he was with his unit this weekend, and had to argue with some of his fellow Guardsmen who insisted the assault on the Capitol was fake, or staged. I'm increasingly worried about this problem in the ranks.
You could say this was a close election, except that Biden will have won the popular vote by more than 5 million votes, plus victories in states few thought were truly winnable. This election will be remembered as a powerful statement.
You could say that we're dangerously divided, and that's partly true, except that this election was won by a coalition of decent Democrats and McCain/Romney/Bush Republicans who put aside differences on policy for the sake of the country.
You could say that our democracy is fraying, except that civic participation is at an all time high, and a leader who tried to subvert our democratic institutions was just beaten by entirely peaceful, democratic means, thanks to free elections, a free press, and the rule of law.
If you've seen extra vitriol on my social media, here's why: the "Q" persona dropped a statement targeting me, citing the discredited NRCC (GOP SuperPAC) attacks on me & my resolution condemning QAnon.
In my first debate with Tom Kean, I warned him that he was playing with a dark and dangerous current in our politics with these vile attacks. He and the NRCC have refused calls from fact checkers, religious leaders, even local Republicans, to disavow them.
Now QAnon, an anti-Semitic conspiracy mongering cult that the FBI views as a potential terrorist threat, is directly amplifying the NRCC's press releases to its millions of online followers.