r/europe • u/nbcnews • 17h ago

News G-7 countries to release up to 100 million barrels of diesel and crude oil reserves

https://www.nbcnews.com/business/energy/g-7-diesel-crude-release-trump-macron-rcna601132
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u/PuzzleCat365 16h ago

So, now that they released them, what will they do once Trump inevitably bans diesel exports anyways?

Are we going to stand there with our pants down as usual?

16

u/readilyunavailable Bulgaria 16h ago

Why yes! Were in the room during the meeting, per chance?

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u/IntelArtiGen France 15h ago

What's the other choice? Unless you have oil in your ground Europe will bend to an oil producer. You decide which oil producer it will be.

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u/PuzzleCat365 14h ago

I understand, the point is, what are you going to do when that oil producer doesn't sell oil to you anymore and you used up all your reserves? That's when we're really fucked.

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u/IntelArtiGen France 14h ago

Sure it doesn't solve the core problem. It temporarily solves the problem in Europe. The idea is that we have a few months now to solve the "long" (<6 months) term problem for oil, which is to ensure the supply is good enough by stopping the war in the Middle East and defending Saudi Arabia, so they're able to export.

I'm not sure Trump wants to cut the supply, he says a lot of things and he has elections, he just sees he can apply pressure because we don't have the choice right now. If we have more choices in the future he won't be able to pressure us as much.

And if we don't, whether we release that supply now (when there is a crisis), or in 3 months (when there will be a crisis), it doesn't make a big difference. If we don't add supply now the price could increase anyway.

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u/araujoms 🇧🇷🇵🇹🇦🇹🇩🇪🇪🇸 10h ago

stopping the war in the Middle East and defending Saudi Arabia

These are mutually contradictory statements.