The Group of Seven Nations agreed Friday to release 100 million barrels of oil from its stockpiles—following a desperate plea from the White House.
The G7 held an emergency meeting Friday morning to discuss global energy costs. The discussion came in the wake of a pressing call between Donald Trump and French President Emmanuel Macron, during which the U.S. leader asked for assistance amid the current oil crisis and floated the idea of banning U.S. diesel exports, according to CBS Chief Foreign Affairs Correspondent Margaret Brennan.
Donald Trump announced after the meeting that “Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil. The process will begin immediately.”
The European barrels are expected to hit the market over the next four months.
Prices would plummet tomorrow if he got the fuck out of Iran.
I don’t know about “plummet” as they always seem to fall like a feather if that’s the trend, but you are otherwise right.
Which is fair, because there’s a good chance we’d be back at it in three days.
Also, prices will never be the same, because the risk calculus for the Strait of Hormuz has changed forever. Insurance premiums for shipping through there will never go back down.
Completely agree. I am leaning harder into renewables as the dino-fuel prices will never be what they used to be. Maybe this is the push the world needed…? Sure is ugly though.
One of the few reasons I haven’t installed solar this year is simply that i want to stay close to my savings in case of job loss.
But imagine buying a petrol car in this economy. I’d rather have a used Musk car
I understand. I was able to muster enough to set some solar up and am happy about that. I am due to replace my vehicle and I am no longer looking at petrol autos and instead am trying to tell myself that the loss of privacy going into a newer EV might not be so bad? Maybe…? I do not like the choices, but am fortunate to even have those.
The loss of privacy has nothing to do with EVs that’s the same on all modern cars.
True, but you can find a perfectly good 20 year old IC, but with an EV that old you’re going to be making bigger compromises.
Nobody said otherwise. I am not looking at all cars. Just EVs.
Regarding privacy, I’m pretty sure Google is harvesting all of that through my phone anyway, so I consider it sunk cost.
I will scratch and claw as much as I can, but yah it’s an uphill battle.