![]() ![]() Vladimir Putin severely “miscalculated” in thinking he could quickly replace the Zelenskyy government in Ukraine in a few days, and “he never expected the extent of the Western sanctions and the unity behind them.”.Yergin is concerned that the President and his advisors are so worried about high energy costs that they will pursue what he calls “panicky policies,” like a ban on petroleum exports.That would be something important – it would be a useful message right now.” Unfortunately, it’s a tool Yergin does not expect the administration to use. The Biden Administration doesn’t have many tools available to address rising oil and gasoline prices, but one that would be useful would be to engage in “jawboning investors to give companies more latitude to increase production. ![]() “We were in a global energy crisis well before Russia invaded Ukraine. ![]()
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