White House officials are bracing for oil prices to surge past the $150-a-barrel mark as the Iran war stretches into its second month and the Strait of Hormuz remains largely closed, according to a new report.
In recent weeks, the average cost of a barrel of crude has hovered around $100, a figure that the Trump administration now sees as the new “baseline,” though a potential spike to $200 hasn’t been ruled out, a source familiar with the matter told Politico.
As a result, officials have entered “all hands on deck” mode, urgently evaluating options to tame soaring oil prices — which pushed gas above $4 a gallon this week and risks inflating costs across the broader economy.
If only in the decades since the oil embargo of the early 1970s we kept investing in alternative energy sources we could have been in a much better place energy wise.
Yeah, but windmills cause cancer and solar is basically gay. And EVs - I’m pretty sure if you drive those when you are male, your penis shrivels up, falls off and you grow a vagina.
Sarcasm: That’s anti-profit! The shareholder nobility will starve!