Souvenir, larmoyant, du concept "panacéen": "Division internationale du travail".
The EU diesel crisis in a nutshell... diesel is at $186 per barrel
- Since 2009, Europe has closed ~30 refineries.
- Domestic diesel production dropped by ~800 kb/d.
So Europe became increasingly dependent on imports.
Then they sanctioned Russia... historically their single most important foreign diesel supplier.
Now:
- Russia extends its diesel export ban.
- China halts fuel exports.
And the Houthis keep attacking Saudi refining infrastructure.
Europe deliberately reduced its ability to produce diesel domestically, cut itself off from its biggest external supplier and became increasingly dependent on a global diesel market that is now breaking apart.
The EU is on a path of economic suicide.