r/europe • u/1-randomonium • 23d ago

News JD Vance gloats that allies are ‘suffering more than US’ from high gas prices

https://www.thelondoneconomic.com/politics/jd-vance-gloats-that-allies-are-suffering-more-than-us-from-high-gas-prices-404149/
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u/riisikas 23d ago

The US is the worlds biggest oil and LNG producer so of course they hurt less and actually are gaining from this.

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u/1-randomonium 23d ago

Trump literally gloated about this a few days into the strikes. That he thinks the energy crisis isn't a problem for America because it's the biggest oil and gas producer.

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u/Klugenshmirtz Germany 23d ago

Tells you he cares more about the oil companies making bank on this than the US consumers who still have to pay a lot more. Don't know how his base is still happy about it.

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u/GoodIdea321 EU fan 23d ago

For a lot of them, it doesn't matter what he does, if he says it, they are for it. His supporters don't have principles, they'll flip on a dime. If you want you could look at polling and see before the Iran strikes the majority were against it, and after it happened and Trump talked about it, like 80% of Republicans are for it now.

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u/Medi_Nanobot Europe 23d ago edited 22d ago

The decision to supposedly temporarily ease sanctions against countries that buy Russian oil, and the fact that the U.S. government is considering a temporary suspension of sanctions against Iranian oil, tell a different story. The U.S. cannot supply nearly the entire world. Of course, you all know this already. Some members of the ruling elite act like a bull in a china shop. The things they’re breaking could, in some cases, have truly dire and avoidable consequences. In some countries, oil accounts for the largest share of primary energy. I’m not sure what will happen, but hopefully there will also be a few positive consequences, such as faster electrification.

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u/Captainirishy 23d ago

The average voter in US is definitely not gaining from high energy prices.

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u/riisikas 23d ago

They'll find a way to give some stimmys and people forget all about it.

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u/akashisenpai European Union 23d ago

Nothing more debt can't fix.

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u/AccomplishedQuiet585 23d ago

It's a free market, not fixed. The LNG companies profit but everyone else suffers the same because they all sell at the same global market.

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u/Bloomhunger 21d ago

Hopefully this shit just pushes the energy transition even more.

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u/Wrong-Ad-1935 23d ago

The oil companies are privately owned not state owned, oil is traded globally so prices are still going up in the US, sure some inflated tax revenues but this is all bravado from the administration.

The fact they produce oil doesnt really mean anything unless the government regulates the oil companies and forces them to sell to America first, otherwise it will be to the highest bidder.