continues. we re seeing heavy bombardment from the air, particularly from long-range fires in the north and east. hallie? courtney, thank you. ambassador mcfall, let me go to you and discuss what we talked about a couple minutes ago. this ban on importing russian emergency and oil. mike rightly addressed the daylight, the little crack of daylight now, between the u.s. and european allies. how effective would this be? would it have teeth if if u.s. did this unilaterally? first of all, this is a no brainer. let s cut to the chase, okay? please. don t import that much oil from the russians. by the way, a lot of what we import and refine and export it is something a lot of americans don t understand. we need to cut this oil off right now.
europe. sanctioning the energy sector would kind of have catastrophic consequences for the global economy. that s what they are saying. they re saying that canceling nord stream ii was a big victory and that was something highly valued by russia and that s something they believe will have big consequences for the russian economy moving forward. but that sanctioning russia s energy sector in and of itself is probably not the best move at this point. and it might very well be a last resort. we do know the white house is considering cutting off oil exports, imports from russia. it is not a massive part of the u.s. imports already, oil and gas, they don t import much from russia but it would be a symbolic move. and the united states has been very reluctant to do anything unilaterally. the allies reluctant to do anything that might harm the europeans ability to import oil and gas, especially in winter. so the energy aspect does not seem to be very much on the
big sticker shock here. yeah. thank you. let s jump into this. i have to say, it is hard to imagine a lot of the same republican who s pushed for this ban on russian oil and gas not ultimately blaming biden for gas prices. even though i realize they were high before this, down the road. there won t be a lot of nuanced conversation about this in october. i give the biden administration tremendous credit for the last couple weeks of how they ve handled the ukraine situation. i think they ve managed to unite the europeans, no small task. but gas prices were rising before the conflict started. and the problem is, republican there s say, we re not doing domestic production. we could be producing as many as 200,000 barrels of oil here in the u.s., as opposed to exporting it from russia or even from venezuela or iran. so i think the argument you will see heading into the mid-terms, don t import it from tyrants anywhere. in south america or russia. but also, what are we doing
of global emissions by the end of the decade. they could be trade barriers put in place to prevent the carbon leakage. but put in place to prevent the carbon leakage. put in place to prevent the carbon leakage. but you face the cost anyway? carbon leakage. but you face the cost anyway? so - carbon leakage. but you face the cost anyway? so if - carbon leakage. but you face the cost anyway? so if i - carbon leakage. but you face the cost anyway? so if i put. the cost anyway? so if i put terrace steel the cost anyway? so if i put terrace steel industry - the cost anyway? so if i put terrace steel industry to - the cost anyway? so if i put| terrace steel industry to put the cost anyway? so if i put l terrace steel industry to put a carbon price on the steel industry to get emissions down and i don t import still but we import steel that does not have them, the world is no better off, my workers have lost their jobs, and things have not moved forward. in jobs, and things have not moved
chris stirewalt, our fox news digital politics editor and host of power play on foxnews.com. simon, it is very easy for us to only worry about our problems here at home because we have plenty of them but we need to keep one eye on what is happening over in europe. why? we do. what we have to remember about europe although it is a mess, it is the world s largest trading bloc, the eurozone. it is huge. it is bigger than the u.s. economy, the u.s. economy if it were just a country would be the single largest country but the eurozone is even bigger than that. that is basically going into a deep recession. we re already seeing greece into recession. spain is in recession. we ll see the u.k. in recession. probably won t come out for a while. it won t be long before the others go into recession. that is going to be really bad. when countries are in recession, they don t buy things and don t import as many things and we export to europe. so it will be bad for jobs here in the u.s. on top o