Imperialist Delusions and the Price of Fuel
Trump and Bessent tried to betray Ukraine. Now they don’t have any cards.
During the 2024 campaign Donald Trump promised to cut energy prices in half. He has, instead, presided over soaring prices at the pump, which have played an important role in his collapse in the polls.
Some might attribute this disaster to Trump’s decision to go to war with Iran, ignoring what appear to have been near-unanimous warnings by experienced military and intelligence officials that such a war would, in addition to disrupting oil supplies, overstretch the U.S. military and dangerously deplete stocks of munitions — which is exactly what happened.
But Scott Bessent, Trump’s Treasury secretary, has found someone else to blame: Ukraine.
Yesterday Bessent went on “Fox & Friends,” where he pinned the blame for high energy prices largely on Kyiv:
We are going through an energy shock right now due to both the war in Ukraine, because Ukraine has decided that they want to blow up Russian energy assets and refined properties, so that is creating upward price pressure on a global basis, and the conflict in Iran.
