The G7 just realized diesel comes from somewhere. Took two wars and a supply shock but they got there. Someone drew them a map with arrows and everything.
Europe is holding crisis talks because diesel prices went up. Not regular talks. Crisis talks. The kind where everyone sits in a room and discovers that banning Russian energy while fighting a war means you run out of energy. Breakthrough stuff. They're considering releasing strategic reserves, which is what you do when your strategy was having no strategy.
The U.S. might ban diesel exports. This would hurt Europe's economic outlook, according to officials who apparently just learned that Europe buys diesel from the U.S. The same officials who spent eighteen months telling you sanctions would cripple Russia and leave Europe untouched. They were half right.
Retail traders are now scanning diesel futures charts with crayons, convinced they've found the next short squeeze. They're drawing triangles. Lots of triangles. Head and shoulders patterns on a commodity they couldn't define three days ago. One guy on Reddit just posted his entire thesis: rocket emoji, diesel pump emoji, money bag emoji. Solid DD.
The strategic petroleum reserve was built for emergencies. Not this emergency, obviously. The emergency where you need cheaper gas before midterms. Different emergency. But now they'll tap it again because diesel costs more when you start two wars and ban imports from your largest supplier. Economics is fake but supply and demand apparently still works.
The G7 will release stocks, hold talks, issue statements, and act surprised when prices stay high anyway. They'll blame speculators. They'll blame Putin. They'll blame climate activists. They won't blame the part where they sanctioned their way into an energy crisis and then wondered why energy got expensive. That would require remembering something that happened six months ago, which is asking a lot from people who trade based on headlines they didn't read about wars they can't locate on a map.
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