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Why the G7's 100 million barrel oil release won't actually lower the price you pay at the pump. The headlines said the G7 was releasing 100 million barrels of oil to bring down diesel prices. Justin Wolfers explains why that's mostly a repackaged press release — a promise to do what was already agreed back in March 2026 — and why it does nothing to address the real shortage. Joined by producer Augusta Chapman fielding your questions, he digs into what would actually help, starting with the unglamorous answer: don't go to war when you don't have to. Here's the part that hits your wallet. Even though the U.S. produces about as much energy as it uses, you're still paying more every time you fill up. Why? Because American producers can always sell abroad at the world price, so they'll never sell to you for less. When the global oil price rises, drivers pay more and oil company shareholders cash in — a straight redistribution from people with cars to people with stock. If you own shares, your 401k is winning; if you're driving your kids to school, you're footing the bill. Along the way Justin lays out the economic theory of war (spoiler: don't), why stock ownership could ease the old conflict between workers and owners, and what a diplomatic communiqué is really worth. Chapters: 0:00 The dumbest thing in the world 0:08 The G7's 100 million barrel release 2:06 The economic theory of war 5:39 When sides can't see each other's strength 8:18 What actually releasing oil would do 11:45 Who wins from higher oil prices 15:31 Workers, owners, and your 401k 20:10 A press release pretending to be a deal Subscribe — it's the one thing that costs less than a tank of gas and never spikes when the Strait of Hormuz gets twitchy: on YouTube 👉 https://youtube.com/platypuseconomics on Substack 👉 https://newsletter.platypuseconomics.com the Podcast 👉 https://platypuseconomics.com/podcast Follow on Social Media @PlatypusEconomics and @JustinWolfers

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