Larry Johnson joined as the Treasury Secretary offered a new explanation for the pump.
On camera, Bessent said upward pressure on prices comes partly from Kyiv's strikes on Russian refineries:
"Ukraine has decided that they want to blow up Russian energy assets"
Larry's diesel research points somewhere Bessent didn't.
American refineries are producing plenty, but substantial volumes are being shipped abroad, to Israel and to the US military according to his sources, which he can't independently confirm.
If true, the squeeze on farmers and truckers is partly a paper shortage of Washington's own making:
"the United States is creating its own shortage"
The global shortage is real, and Russia made it worse by halting its own diesel exports, though two Americans just back from driving Vladivostok to Moscow report fuel everywhere and no crisis.
The bigger picture came from two summits.
At the G20 in North Carolina, China reportedly refused to sign a declaration that Hormuz must be open.
At the SCO in Bishkek, India joined Russia and China in calling the strait Iran's business.
Larry calls the new world multimodal, many neurons firing at once, and for the next two weeks those neurons meet in Vladivostok and Delhi with no American in the room.
@NewSonof @WeTheBrandon
