Why hasn’t the U.S. blocked Iran from the Strait of Hormuz?
Iran is exacting an economic toll on noncombatants, and the U.S. is not only letting Iran’s exports reach the market but helping Iran with the release of sanctions—all at the expense of Saudi Arabia, Kuwait, UAE, Bahrain, Qatar.
Right. But the issue that may upset voters/taxpayers is that almost all of the SPR oil that will be released will go overseas. The U.S. is not going to have shortages and gasoline lines. Canada’s exports to the U.S. guarantee it. The U.S. consumer will have just have to endure the higher fuel prices.
#Gas & #Oil supply disruptions push prices higher as the #StraitOfHormuz shuts amid rising #WestAsia tensions.
OMCs, petrochemicals, paints and airlines are among the worst hit.
@sonalbhutra
Today is the 10th anniversary of @Cheniere shipping the first U.S. LNG export cargo. It is an example of a market growing because the guarantee of sufficient LNG allowed consumers to build the infrastructure necessary to use LNG. Supply created its own demand. https://t.co/aoAurFwF4n
@SenWhitehouse is upset because his constituents are upset. As the @nytimes pointed out, his state of Rhode Island uses natural gas power plants for more than 80% of its electricity supply. The price of natural gas has increased year over year for the past two years. The state has made little progress weaning itself off of fossil fuels. Contrast that with Texas (see https://t.co/Y2fBJjTlUY) where, during daylight, more than half of the electricity will be from wind and solar farms.
https://t.co/AnkLolAB59
@dajpearl @mattyglesias ERCOT is the state electricity monopoly. The state overcharged $28 billion prior to 2021; $4+ billion during the freeze in 2021; $12 billion alone in 2023; $1+ billion in 2024. https://t.co/ZOIgXq88FF
President Donald Trump at AI Summit: "We're building a future where American workers will forge the steel, produce the energy, build the factories and really run a country like I believe this country has never been run before."