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.
At least it’s a little harder everywhere else because most people haven’t devolved into a political system of only A and B. That shouldn’t make people elsewhere feel safer. It just means you have more time.
I used to think the EU was pretty solid but I’ve been seeing the ratcheting effect over there in recent years. With one or two bad actors completely stalling out protections. They better watch out.