As gas, oil costs soar, Fox Nation's 'Energy Shock' analyzes magnitude of Russia's influence on global energy
Stuart Varney explains why Russia is 'a giant gas station with imperial ambitions' in the new Fox Nation special, available to stream now
{{#rendered}} {{/rendered}}With gas and oil prices reaching record levels and the United States recently banning Russian energy imports, many are concerned as to how Russia's invasion of Ukraine will continue to affect the global energy market. Fox Nation's new special ‘Energy Shock: The Coming Energy Crisis,' delivers insight into how the conflict is wreaking havoc on global energy prices and why Putin's most potent weapon is energy.
In 'Energy Shock: The Coming Energy Crisis,' available to stream now on the app, FOX Business host Stuart Varney explains how the energy crisis did not happen overnight and takes a step back to assess the events that led to this point.
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In the special, Varney breaks down how, for several years, Putin has been working to make Europe dependent on Russia - who, by building the Nord Stream 2 pipeline, would double the amount of oil volume they can send directly to Germany without having to move across Ukraine.
{{#rendered}} {{/rendered}}In doing so, Russia became a ‘giant gas station with imperial ambitions,’ as described by the ‘Varney & Co.’ host.
Russian President Vladimir Putin attends a meeting with Russian Defence Minister Sergei Shoigu at the Kremlin, in Moscow on February 14, 2022. (Photo by Alexei NIKOLSKY / Sputnik / AFP) (Photo by ALEXEI NIKOLSKY/Sputnik/AFP via Getty Images) ((Photo by ALEXEI NIKOLSKY/Sputnik/AFP via Getty Images))
Putin also recognized that the West needed his energy; so he tightened the supply, anticipating that if he attacked Ukraine, the West would respond with sanctions. According to Varney, the Russian president hedged his bets.
Though critics have been quick to blame President Biden’s domestic energy policies as a self-inflicted wound leading up to Putin's war, America's ban on Russian oil will drive prices at the pump even higher, said Varney, which 'presents us with a monumental inflation problem.’
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{{#rendered}} {{/rendered}}Throughout the special, Varney dives into the mind of Vladimir Putin and his longstanding strategy to create a Russian energy juggernaut to withstand what he was planning to do all along.
"Putin's war has made us all realize the virtues of democracy and freedom," said Varney.
Discover further how Russia prepared for a global response to their invasion on Ukraine and the man behind the curtain. To learn more, subscribe to Fox Nation and tune in to the new special, 'Energy Shock: The Coming Energy Crisis'
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