OIL & DIESEL SHORTAGE MAY COLLAPSE THE GLOBAL ECONOMY & SECURITY STARTING WITH EUROPE
Written by Michael Thervil
[EUROPE OIL DIESEL SHORTAGE] In an effort to align the world and specifically Europe for every increasing oil and diesel prices, the Group of Seven (G7) nation which consists of Italy, France, Germany, United Kingdom, Canada, Japan, and the Americans have reached an agreement to collectively release tens of millions diesel and crude oil into the global market. The release of oil by the G7 Nations is set to begin within 20 days and span over the course of four months. With diesel prices averaging over $6 a gallon, American Truckers have threatened to go on strike to protest the rising cost of diesel in America. If American Truckers decide to go through with a strike, the blowback from their action could not only threaten national security, but it very well shut down entire industries across America.
Compounding the issue of the rising cost of diesel on the world stage is the fact that the Trump Administration has threatened to cut Europe off from American oil and diesel if they fail to utilize their oil reserves to aid in combating rising oil and gas prices internationally. It should be noted that America supplies Europe with roughly half of its oil and diesel. Europe remains hesitant to initially comply with the demands of the Trump Administration because they have very limited diesel and oil reserves as the reserves that they do have would only power Europe for an estimated four months.
Global energy experts point to the fact that the reason why Europe has been hesitant to comply with the demands of the Trump Administration is because winter is quickly approaching and with uncertainty in the market combined with the unpredictability of present trump, the war between America and Iran may not only extended for an unknown period of time, but the war may continue to widen throughout the middle east with no end in sight. In response Italy, Germany, France, the United Kingdom, and Ireland have decided to collectively come together to counter the threatening demands of the Trump Administration.
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With a global shortage of diesel happening, if the war between America and Iran doesn’t end, the blowback associated with this war will send a deep ripple effect throughout the global economy which will affect everything from oil and gas, to transportation, trade, food, and even the cost of energy production and consumption. This in combination with the bombing of oil refineries throughout West Asia and Russia by the hands of the Ukrainian with the help of the Collective West is nothing short but a recipe for disaster.
In the case of Europe, if they decide to fully comply with the demands of the Americans, it may compromise both the economic and energy security of all of Europe in the next few months. It's been said that war is a racket, the question that’s being asked is can the world afford to pay for play.
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