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.
after the midterms…course he better say thank you, the orange bish
Serious question: if Europe were to fully commit to installing renewables, how much dependence on diesel would it maintain in, say, one year? I mean really putting it all in, like a war economy but with this
The whole transportation business run on diesel. There are currently no good truck EVs and if there are they will require special charging stations, so it would be very difficult to change to renewables and EV overnight.
We will still be dependent on petrol though, but much less, but petrol is needed in the chemical industry for the production of plastic, for plane fuel, etc.
Don’t forget freight ships. A quarter or so of worldwide commerce is international shipping by sea. I’m not aware that there’s any commercially viable solution for powering these ships with renewables. The closest I know of are US Navy Carriers, which don’t require diesel, but they’re powered by nuclear reactors, which are neither renewable nor commercially viable (not that the USN would care about profitability) and require a huge amount of expertise to maintain.
Ships use bunker fuel, which varies in refinement between 1 notch above crude oil to slightly thinner.
Then I have been misinformed, thanks for the correction. Still, they’re dependent on oil for now, which is gonna become more and more of a problem than it already is.
And Fotzenfritz bent right over and greased his butthole.
Have you guys noticed that all of the craziest things he does always hit on a Friday? Just in time to harvest the changes if the atickmarjet but always late enough for the international markets to have closed?
F5 Friday baybee
The Friday News Dump has been around a lot longer than Trump. Market Manipulation Day is every day for Trump. He doesn’t wait until the end of the week for that shit.
Why do people keep helping him???
Why does the rest of the world keep rolling over to his idle fucking threats???
Because he weilds a lot of power :(
They are not helping out of their own volition. It’s extortion. Europe imports 50% of its Diesel from the US. If we say no, not only the consumers will suffer, but the economy as a whole. Massively.
You smile, while you massively uspcale and speed up all the processes of untangling dependencies, building sovereign capabilities in areas that previously relied on the US etc. France is one of the best examples for that.
I just hope this is true. I really think America needs a good 20 years in the wilderness to contemplate what they did by voting in that corrupt, morally bankrupt, buffoon. I hope he rots in jail for all he has done.
What he’s done is what they’ve always done, just more grotesquely and evidently.
There are a lot of reasons, most of them suck.
Short answer is he’s just the front man for a much larger demographic and he’s got a lot of financial systems held hostage because of almost 100 years of the US working to make the dollar the global currency. He’s everyone’s problem.
He’s everyone’s problem.
No, no, no, haven’t you seen the posts all over? He’s America’s problem and it’s their mess to clean up.
There’s absolutely no global impact on the rise of far right ideology and it’s certainly not trending up in pockets around the world.
The puppet regime that is the Trump administration isn’t an indicator of a larger global oligarchy problem at all.
In this case? Because if Trump issues an export ban, gas prices in the EU are going through the roof.
It’s extortion. Plain and simple.
Nukes, most likely. He’s been itching to use one.
This comment deserved more attention. He is going to go nuclear before his term is up. He needs to use that power, it’s in his dna to want to touch that stove.
Because theyre not idle threats he really will tariff the fuck out of you if you don’t comply.
The thing is, it was this b type of hubris that b for him into this mess and it’s not going to get b him out of it
But they did. G7 releases emergency reserves - The Guardian
“in 4 months” kicking the ball forward until November, …when GTA6 comes out.
Of course my representatives are cowards like usual. No wonder the far right gains more traction here every day. I’m not fooled by them, but when the actual leadership is this retarded it’s not hard to fool most of the idiots.
What they actually said:
Was gonna do it if no one else did
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.
Draining Europe for Putin
Well, that will work for 3 days.
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