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Economist Paul Krugman argues that the Donald Trump administration’s attempt to blame Ukraine for soaring fuel prices highlights that Washington is powerless to alter Kyiv’s strategy, as officials have “no cards” left to fulfill promises of cheaper gas. <\/p>\n
Bessent Points to Kyiv’s Drone Attacks <\/p>\n
Speaking on Fox & Friends on Sept. 2, Treasury Secretary Scott Bessent cited Ukraine’s military actions as a major factor behind rising domestic fuel costs. <\/p>\n
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Bessent stated that the world is experiencing an “energy shock” because “Ukraine has decided that they want to blow up Russian energy assets and refined properties,” creating upward price pressure alongside the ongoing conflict in Iran. <\/p>\n
Reacting to the administration’s diminished influence, Krugman said in his Substack post that officials wish Ukraine would stop blowing up Russian energy assets, but “they can’t, in practice, do anything to change Ukraine’s war strategy,” adding: “They’re not in a good position. They don’t have the cards.” <\/p>\n
Trending: Avoid the #1 Investing Mistake: How Your ‘Safe’ Holdings Could Be Costing You Big Time<\/a> <\/p>\n Krugman Explains Washington’s Lost Leverage <\/p>\n Analyzing the political fallout, Krugman argued that the administration’s predicament stems from its own hostile foreign policies. <\/p>\n After Washington attempted to negotiate what Krugman termed a “Belgian Congo” deal to claim half of Ukraine’s mineral revenue, Kyiv rejected the offer as an unenforceable shakedown. In response, Washington cut off nearly all military aid. <\/p>\n Ukraine sustained its defense through European support and developed advanced drone capabilities to target Russian economic assets. Because the U.S. has already halted aid and depleted its missile interceptor stocks during the Iran conflict, Krugman asserts that Washington can no longer threaten or persuade Kyiv to halt its strategic air campaign. <\/p>\n See Also: Skip the Regrets: The Essential Retirement Tips Experts Wish Everyone Knew Earlier.<\/a> <\/p>\n Fuel and Gas Prices Soar <\/p>\n Ukraine’s drone campaign against Russian energy infrastructure has resulted in Moscow slashing its oil output forecast to a 17-year low of 9.88 million barrels per day. <\/p>\n Current AAA data highlights the domestic strain, with the national average for regular gas at $4.14 per gallon and diesel climbing to $5.78. <\/p>\n Story Continues <\/p>\n At the last check, Brent Crude futures were trading near $97 per barrel, about 1.00% higher at $96.59; meanwhile, WTI Crude futures were 1.43% higher at $92.29 per barrel. Brent tracker, United States Brent Oil Fund, LP, was 1.22% higher, whereas United States Oil Fund, LP, which tracks WTI, was 1.43% higher at $143.15 in premarket on Thursday. <\/p>\n Image via Shutterstock <\/p>\n Read Next: Think you’re saving enough for your kids? You might be dangerously off \u2014 see why<\/a> <\/p>\n Building Wealth Across More Than Just the Market <\/p>\n Building a resilient portfolio means thinking beyond a single asset or market trend. Economic cycles shift, sectors rise and fall, and no one investment performs well in every environment. That’s why many investors look to diversify with platforms that provide access to real estate, fixed-income opportunities, precious metals, and even self-directed retirement accounts. By spreading exposure across multiple asset classes, it becomes easier to manage risk, capture steady returns, and create long-term wealth that isn’t tied to the fortunes of just one company or industry. <\/p>\n Arrived <\/p>\n Backed by Jeff Bezos, Arrived Homes makes real estate investing accessible with a low barrier to entry. Investors can buy fractional shares of single-family rentals and vacation homes starting with as little as $100<\/a>. This allows everyday investors to diversify into real estate, collect rental income, and build long-term wealth without needing to manage properties directly. <\/p>\n Qnetic <\/p>\n As electricity demand rises alongside AI, data centers, and renewable energy, long-duration energy storage is becoming increasingly important. Qnetic is developing a kinetic energy storage system designed to provide long-lasting, chemical-free electricity storage<\/a>, <\/a>offering investors exposure to the infrastructure supporting a more resilient and reliable power grid. <\/p>\n EquityMultiple\u00a0 <\/p>\n For accredited investors looking beyond stocks and bonds, EquityMultiple provides access to vetted commercial real estate deals starting at $5,000<\/a>,<\/a> with only ~5% of opportunities passing their due diligence process.\u00a0 <\/p>\n FarmTogether <\/p>\n Farmland has historically held its value through market volatility and delivered returns uncorrelated to stocks and bonds. For accredited investors, FarmTogether offers direct access to high-quality U.S. farmland starting at $15,000<\/a> \u2014 fully managed, with no landlord headaches. <\/p>\n Fundrise <\/p>\n