I bet Prozac sales are skyrocketing.
Skyrocketing oil prices is a 70-80’s mindset. Now we have American energy dominance. Rising oil prices are tamed thanks to drill, frack, crack, everywhere right now. More oil more gas more coal more nuke.
Power was handed to ME oil countries thanks to idiotic energy policies and price controls. Prices skyrocketed based on artificial scarcity. Then what little was left of domestic production we hammered with windfall profits tax.
We can easily get back to those days. Even now on FR you will hear calls for export controls on oil and gas. Or the whining about greedy gasoline refiners.
WSJ has a good explainer article on why Iran doesn’t hold the only cards on oil, the US does also. In terms of win/lose if Iran closes the Straight the losers are Iran biggly, China big, and the US teams even or may even benefit slightly.
China now is beholden to Trump for keeping their cheap oil flowing from Iran. Wonder what he got for that?
To no one's surprise, gas prices in oregon have risen steadily.
Now over four bucks a gallon.
oregon's super majority illiberal state representatives have
submitted legislation to greatly increase the fuel tax.