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.

  • Tja@programming.dev
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    9 days ago

    The European barrels are expected to hit the market over the next four months.

    We just need a month for paperwork and stuff, we’ll start around middle of November. Hope this helps!

  • Impractical_Island@lemmy.world
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    9 days ago

    I’ll pay a nickel to suck every dick Trump adds to the economy in this way the war is going on oil so the drugs have more than there ever were before then.

  • Tango@piefed.ca
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    9 days ago

    So it’s the Group of Seven again when he wants a favor, huh? Why didn’t he just ask his G8 buddy Putin?

    • Tja@programming.dev
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      9 days ago

      I know it’s rethorical, but Putin already banned exports of diesel well into 2027. Kinetic sanctions…

    • im_fine_sandy@nord.pub
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      9 days ago

      I’m genuinely asking, would getting the fuck out be enough?

      He would need to capitulate. He would need to acknowledge his fuckup, to the satisfaction of Iran. I don’t think he’s capable of that. Not simply that he doesn’t want to, although that’s also true. I mean he’s not equipped to negotiate an end to this hostility.

    • PancakesCantKillMe@lemmy.world
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      10 days ago

      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.

      • bus_factor@lemmy.world
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        10 days ago

        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.

        • PancakesCantKillMe@lemmy.world
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          10 days ago

          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.

          • CompactFlax@discuss.tchncs.de
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            10 days ago

            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

            • PancakesCantKillMe@lemmy.world
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              10 days ago

              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.

                • bus_factor@lemmy.world
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                  9 days ago

                  True, but you can find a perfectly good 20 year old IC. With an EV that old you’re going to be making bigger compromises.

              • bus_factor@lemmy.world
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                10 days ago

                Regarding privacy, I’m pretty sure Google is harvesting all of that through my phone anyway, so I consider it sunk cost.

  • ProwlsInSoup@lemmy.world
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    9 days ago

    I really hope spinless cowards who runs my home country won’t help him… they will probably help him…

  • humanspiral@lemmy.ca
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    8 days ago

    WSJ/US press repeating them, are pretending that 90% of prewar transit has occurred this one time at band camp. If it were true, China would be buying it and getting massive refining profits from exports. Iran has hit over 7 ships in last 2 weeks attempting to transit without its permission. Even if they were getting out some oil, region needs ships to go back into SoH.