2 years ago

President Joe Biden announced that the US will ban Russian oil imports due to Putin's Invasion of Ukraine. The impact of this will impact you at the pump, your ability to get vehicles and parts.
Americans will start to feel some of its effects in more than higher gas prices. The price of gasoline was rising before Putin began his military buildup on Ukrainian border. The increased gas prices are now the highest since the 2008 recession. Everyone is impacted by higher gas prices even if you own an electric car. Electric vehicles are even more dependent on microchips and rare earth metals than traditional vehicles, making the industry challenges of the past 2 years particularly costly for EVs. These issues should eventually be resolved, but the current state of the world is not friendly to EV production, cutting profits and forcing price hikes. This is a powder keg that you need to now about.

If you have additional questions, put them in the comments below and I'll be happy to answer.

0:00 #Russian - #Ukraine Conflict Will Impact The Autos, EVs and #Gas Prices Hard
1:18 high gas prices
2:19 Nickel, aluminum, palladium @London Metal Exchange
3:04 EV batteries
3:57 what's the answer?
4:26 what does this cost you
4:55 Comments and questions

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