JD Vance has said Americans should comfort themselves with the fact that allies are "suffering more than we are" from soaring gas and oil prices.

The worst and most stupid bit is this:

Speaking to crowds on Wednesday, vice president JD Vance said US allies are “suffering from this, frankly, more than we are.”

He claimed this was because they had “focused on a lot of green energy scams and they’re hurting a lot more than we are.”

Vance continued:"As much as we’ve got to focus on getting these gas prices down, the reality is overseas they’re feeling it far worse than we did because we’ve taken the steps to protect our energy economy.

  • 8oow3291d@feddit.dkEnglish
    10·
    6 hours ago

    Oil prices are pretty global. If you look at the prices for European oil (Brent crude) and US oil (West Texas Intermediate), then they are $14 apart. Which is not nothing, but WTI is still up by 63% from pre-war. That is still going to hurt the US economy, a lot.

    Also, in the US the oil price windfall is privatized, while the oil price pain is socialized. So the US will still feel almost the full pain.

    • humanspiral@lemmy.caEnglish
      1·
      1 hour ago

      There is some fuckery in US price. Asia is $60/bbl higher. Rumors of US export controls seemed contradicted by WH on Friday, and somehow prices went down in US by $1. Possibility of US treasury heavily shorting US futures (in secret or with secret financial allies) to manipulate price. With no export controls, US price should be $4 lower than Brent, and $8-$10 lower than Asia.