United States energy companies could bring in billions of dollars if the war in Iran continues. The global rise in energy prices, which has resulted from the U.S.-Israeli war against Iran, will make the U.S. one of the biggest beneficiaries.
The Financial Times (FT) [behind a paywall] has reported that the U.S. stands to make billions of dollars from the rising cost of fuel, while citing estimates provided by the investment bank Jefferies.
Oil prices have already surged past $100 per barrel due to the fallout from the ongoing war in the Middle East. If they remain elevated this year, American companies will receive a $63.4 billion boost from oil production, according to the energy research company Rystad.
Oil Prices Spike As U.S., Israel, and Iran Intensify Attacks
U.S. President Donald Trump used the opportunity to pivot from a focus on keeping energy prices low to painting high oil prices as a positive. “The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money,” he said in a Truth Social post on Thursday.
Remember when we concluded that the entire Venezuela debacle was all about the oil? It’s starting to feel that way as the U.S. continues its war with Iran.
Trump had tried to sell the ouster of the ruler, Nicolas Maduro of Venezuela, under the guise of “narco-terrorism.” He began by striking civilian boats before using force to kidnap Maduro and take control of Venezuelan oil.
It’s All About The Oil: Trump Wants “Oil Rights” In Venezuela
Trump has focused on oil after pivoting from the Iran nuclear topic, likely in an effort to gain more support for his empire expansion and war-mongering efforts to control more global oil.
The about-face came as Trump’s team faced challenges in presenting a coherent plan for reopening the vital Strait of Hormuz for U.S. ships. The Iranian authorities claim that the Strait of Hormuz is closed to U.S. and Israeli ships, despite not being physically sealed with a permanent barrier, according to a report by RT.
Strait of Hormuz Closure Hinders Global Oil Supply
The American public is the real loser of the rising cost of oil. For a lot of people, choices are already being made between eating and paying rent or other sky-high utility bills. The cost of living crisis had officially collied with the affordability crisis, and it isn’t going to look positive for a good portion of those just trying to get by in the U.S.
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