When it comes to situations that scream “Oh, the Irony!” Trump’s recent deal with Putin charges to the top of the list.
Cue Up: Last week’s Hail Mary for the Mid Terms as Trump and Putin agree to a trade deal for diesel.
On the surface it sounds like Trump has saved America from the diesel crisis claiming he negotiated a deal for 4.8 million tons of diesel.
But upon closer inspection, the deal calls for 300,000 tons immediately with another 500,000 tons in November, and 1,000,000 tons “Thereafter.”
And the remaining 3,000,000 tons falls into the “Thereafter” category as well.
On his Truth social media, Trump added…depending on “the condition of their Diesel Refineries.”
Hmmmm!
That condition remains to be seen as Zelenskyy keeps bombing Russian refineries.
But, as expected, Trump closed his announcement with another ALL-CAP flurry saying:
“Our TOTAL CONTROL of the Strait of Hormuz, and this great announcement on Russian Energy, Diesel Prices for Americans and, indeed, the World, will be COMING DOWN, IN RECORD NUMBERS, AND FAST!”
Hold on!
Before all the MAGA fans cheer over Trump’s accomplishment, let’s do some math.
First, 300,000 tons of diesel doesn’t even put a dent in what’s needed.
Why?
The United States uses approximately 490,000 to 525,000 metric tons of diesel and distillate fuel daily.
So, in another month we get another 500,000 tons and sometime “Thereafter” we get another million tons…and sometime “Thereafter” another possible 3,000,000 tons assuming the Russian refineries are operative?
Altogether, the 4.8 Million tons agreed upon would last us less than 10 days…and that’s if we got it all at once and not “Thereafter.”
Ironically (or NOT) saying diesel prices will be coming down in record numbers is like Jim Cramer saying (back in March) that oil has topped.
