this post was submitted on 02 Apr 2026
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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.

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[–] BigMacHole@thelemmy.club 14 points 7 hours ago

If ONLY Iran would OPEN up the Straight ~~that was ALREADY Open BEFORE Trump bombed them for some Reason!~~ WE wouldn't be in This Mess! We NEED Trump to Fix ~~Trump's Fuck Up!~~ Iran!

-NOT Sheep Republicans!

[–] HulkSmashBurgers@reddthat.com 34 points 9 hours ago (3 children)

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.

[–] CharlesDarwin@lemmy.world 9 points 6 hours ago (1 children)

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.

[–] mycodesucks@lemmy.world 6 points 5 hours ago

your penis shrivels up, falls off and you grow a vagina.

[–] prole@lemmy.blahaj.zone 18 points 8 hours ago (1 children)

Jimmy Carter put solar panels on the White House roof. Reagan took them down. Pretty succinct summary of the past 40 years.

[–] Quill7513@slrpnk.net 13 points 7 hours ago (2 children)

before anyone says "those solar panels didn't work very well" THAT'S NOT THE FUCKING POINT. they represented a commitment to invest in the technology. the presidency is the bully pulpit. a person can change a lot about the direction of the country there without making meaningful change in the moment. Grant and Carter are probably the two presidents who tried the hardest to do something positive with that power

[–] prole@lemmy.blahaj.zone 6 points 7 hours ago (1 children)

Exactly.

Grant and Carter are probably the two presidents who tried the hardest to do something positive with that power

I would say both Roosevelts did too. Admittedly, my Grant knowledge isn't super deep, what was it that he did that you think puts him in that group?

[–] Quill7513@slrpnk.net 6 points 7 hours ago

he had this crazy idea that the treasury department should give money to poor people and that someone should kick the KKK's ass

[–] natecox@programming.dev 2 points 5 hours ago (1 children)

Let's not idolize Carter too much. I like a lot of what he did, and I obviously love his "old man building houses for the needy" golden years, but Carter was also the beginning of the dismantling of antitrust which is the primary reason we have wealth consolidation and market capture as the de facto norm today.

He started the ball rolling with a bizarre policy of "big businesses are good for everyone" which meant antitrust laws--while still on the books and our official policy--simply stopped being enforced. Regan capitalized on this but Carter started it.

[–] Quill7513@slrpnk.net 2 points 5 hours ago

oh for sure. and Grant wasn't great for indioenous people. America has never had a good president. just a limited selection who qualify for "most least worst"

[–] Napster153@lemmy.world 2 points 8 hours ago

Sarcasm: That's anti-profit! The shareholder nobility will starve!

[–] anon_8675309@lemmy.world 10 points 9 hours ago

He really wants to kill the economy so his rich buddies can buy everything up cheap.

[–] wonderingwanderer@sopuli.xyz 48 points 23 hours ago (2 children)

Oh hey, maybe if they didn't dismantle all the green energy and EV initiatives then the impacts would be mitigated a little bit...

Funny how that works...

[–] Corkyskog@sh.itjust.works 27 points 23 hours ago (2 children)

Literally couldn't be doing anything different to help Russia more.

[–] wonderingwanderer@sopuli.xyz 7 points 20 hours ago (1 children)

That's gotta be the point, isn't it? It's not really a secret that trump's a russian stooge...

[–] TehWorld@lemmy.world 3 points 8 hours ago (1 children)

I think about this. Functionally he’s a puppet of Putin, but I don’t think that it’s an “active” stooging. Trump wants to BE a dictator and Putin is very intelligent, so he’s able to ply Trump to his will. Trump probably cares more about the pee-tapes than it’d actually affect him.

[–] nomy@lemmy.zip 1 points 4 hours ago

"P-tapes"

It's been pedo tapes the whole time.

[–] Dionysus@leminal.space 5 points 22 hours ago

Just as they planned.

[–] VinegarChunks@lemmus.org 7 points 19 hours ago* (last edited 19 hours ago) (2 children)

Automakers have billions of dollars in brand new EV manufacturing equipment and lines sitting around doing nothing since the new administration changed all the regulations and incentives.

[–] wonderingwanderer@sopuli.xyz 2 points 19 hours ago (1 children)

And they arrested/deported most of the engineers who were supposed to train manufacturing employees...

[–] grrgyle@slrpnk.net 1 points 7 hours ago

Gotta subsidise the undead oil economy or else the old farts might actually have to read a journal and try to figure where else to invest the money they don't need!

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[–] Maggoty@lemmy.world 15 points 23 hours ago (2 children)

They're gonna nationalize our oil aren't they? Required sale to the government at a set rate and then government will turn around and sell into the domestic and international markets to balance prices at our pumps.

It's about the only option other than stop bombing Iran and that's not happening.

[–] Corkyskog@sh.itjust.works 9 points 23 hours ago (1 children)

That would be hilarious actually

[–] Maggoty@lemmy.world 14 points 23 hours ago

Oh Undoubtedly. I look forward to all the explanations as to why it's Capitalism when we do it and Socialism when Venezuela does it.

[–] VinegarChunks@lemmus.org 3 points 19 hours ago (2 children)

Trump could ban US oil export. That would bring the price of gas down here.

He won’t do that.

[–] zarkony@lemmy.zip 1 points 16 minutes ago

That would bring the price of gas down here.

I'm doubtful of that. Oil is a globalized commodity, and international prices will still affect local sales, even if none of our oil actually comes through the straight of Hormuz.

I'm convinced the straight being closed is the whole point of this mess. It's just an excuse to charge more despite local production costs not changing. If export were banned, I think they'd just lower production to keep their margins high.

[–] Bassman1805@lemmy.world 1 points 9 hours ago (1 children)

The oil refineries we have in the US attention equipped to handle the type of oil we can actually produce here. We export just about all of our oil, and just about all of our oil product are refined from foreign oil.

If we didn't export US oil, we wouldn't be able to do much with it.

[–] TehWorld@lemmy.world 1 points 8 hours ago (1 children)

I’m nowhere near an expert, but that’s solely a cost issue. We certainly have the tech and the oil companies would be happy to retool with taxpayer dollars. What’s another trillion or three between friends?

[–] bearboiblake@pawb.social 1 points 7 hours ago

It's not just cost, but also time. This issue is quite a pressing concern, I am no expert but from what I've read they can't quickly retool for a different type of oil, it would be a longer term kind of thing, not fast enough for the current crisis

[–] BilboBargains@lemmy.world 24 points 1 day ago

Trump officials bracing for nightmare scenario of renewable energy and end of global hegemony.

[–] prole@lemmy.blahaj.zone 70 points 1 day ago (7 children)

It honestly makes me sick that this appears to be the line for most Americans. Fuck this country.

[–] innermachine@lemmy.world 53 points 1 day ago (5 children)

To be fair, once fuel prices go up the cost of EVERYTHING also goes up. So no it's not just about pain at the pump, it's pain at the grocery check out. Pain when the oil truck comes to deliver your liquid heat. Pain when you buy anything plastic, anything grown with fertilizers. People don't realize petroleum is in almost everything! And if it doesn't use a petroleum product in manufacturing, it certainly does in shipping.

[–] cmbabul@lemmy.world 2 points 2 hours ago (1 children)

Youre right, but also if we weren’t using up as much for fuel as we do there would be much more left for other applications

[–] innermachine@lemmy.world 2 points 2 hours ago

No kidding. I think our world leaders have forgotten that there is only so much oil in the ground, once it's all burnt up that's it poof it's gone. Makes it even more insane that their bombing oil fields and refineries. If u want a small example of how our billionaire rulers have boned us look at the racket from synthetic rope getting hemp banned. The tldr is DuPont made synthetic rope, but hemp which is sustainable and strong got outlawed due in part to them lobbying. We have a government that exists only to stuff rich peoples pockets from what it seems. There's more examples than can be listed of private corporations creating rules to make themselves the winners at the expense of the people and the planet, and it's been going on for over a hundred years and just getting exponentially worse. There's a reason wealth just keeps consolidating.

[–] CharlesDarwin@lemmy.world 2 points 6 hours ago

Exactly. Your house could be solar, you could be charging your EV from your solar, and so your house power and transportation costs mostly negated, but everything else would still have an increase.

[–] HulkSmashBurgers@reddthat.com 2 points 9 hours ago (1 children)

Ive never heard liquid heat before, interesting. We call it heating oil where I'm from (southern new england).

[–] innermachine@lemmy.world 3 points 9 hours ago (1 children)

I'm in northern New England, moved here from Southern New England. Moved there from Texas. Moved there from Italy. I'm not "from" anywhere so I picked up some odd sayings in my travels LOL. I also make stupid shit up on occasion, gotta keep people on their toes.

[–] HulkSmashBurgers@reddthat.com 2 points 9 hours ago
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[–] IronBird@lemmy.world 9 points 1 day ago

$ is the only thing sacred in america, always has been

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[–] humanspiral@lemmy.ca 16 points 1 day ago (2 children)

One idiotic move administration has made is to increase ethanol content of gasoline. Ethanol is corn based in US. Cost of corn is fertilizer based. The futures price of corn has only increased about 10%, while fertilizer costs are up 100%, and so no logical reason to plant corn that has been losing money for farmers for last 5 years.

Easiest plan to bring down energy prices would be to import chinese solar tariff free, to use on ethanol corn fields in Nebraska. Leaving room for Corn between panel rows when it is viable to grow corn for food again. There's even a path towards 0 cost electricity for 24/7 datacenters or other loads. https://lemmy.ca/post/59615557?scrollToComments=true

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