Bessent partly blames Ukraine for ‘energy shock’ pushing up prices
Bessent said Ukrainian strikes and the Iran conflict are driving higher global energy prices, which he called an energy shock.
- On Wednesday, Treasury Secretary Scott Bessent blamed Ukraine's strikes on Russian energy infrastructure for creating a global "energy shock" and contributing to rising fuel prices worldwide.
- Speaking at the G20 meeting in Asheville, North Carolina, Bessent conceded "prices are too high" while also identifying the conflict with Iran in the Strait of Hormuz as a factor impacting energy markets.
- Bessent noted that "the bottom 25% of wage earners' wages went up 4.7%" and highlighted Chevron's $7 billion investment in Venezuela as evidence of economic relief efforts.
- The remarks drew swift backlash from analysts; Max Boot accused Bessent of "literally blaming the victim," while CNN chief national security analyst Jim Sciutto questioned if the administration aims to save Russian industry.
- Critics including Nicolas Tenzer and The Dispatch's Jonah Goldberg argued the administration's stance repeats narratives favorable to the Kremlin, potentially undermining efforts to restrict Vladimir Putin's ability to fund his invasion.
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Bessent Blames Ukraine For High Energy Costs
The Hill reports: Treasury Secretary Scott Bessent on Wednesda blamed Ukraine for the “energy shock” caused by the Iran war and Russia’s 4 1/2-year war with the Eastern European country. Bessent said the Trump administration’s trade war with Canada will have “virtually no impact on American prices.” “We are going through an energy shock right … The post Bessent Blames Ukraine For High Energy Costs appeared first on Joe.My.God..
Bessent says Ukraine causing high gas prices: ‘They want to blow up Russian energy assets’
Treasury Secretary Scott Bessent on Wednesday blamed Ukraine for causing high oil prices by attacking Russian energy targets — as the Trump administration scrambles to lower prices at the pump ahead of the Nov. 3 midterm elections.
Bessent Blames High Energy Prices On Ukraine
"Treasury Secretary Scott Bessent said Ukrainian drone strikes on Russian energy facilities were one reason for rising global energy prices, citing those attacks before mentioning the war against Iran when asked about the elevated cost of living in the U.S," Bloomberg reports.Said Bessent: "We are g
Bessent blames Ukraine strikes on Russia for global energy market instability
Treasury Secretary Scott Bessent pointed to Ukrainian strikes on Russian energy infrastructure as a root cause of rising global energy prices on Wednesday, saying the Russia-Ukraine war and the war with Iran have created an “energy shock.” Bessent, speaking from Asheville, North Carolina, where the Group of 20 finance ministers’ meeting was held this week, told […]
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