Trump officials prepping for 'nightmare scenario' at gas pumps

[Yo_Mama_Been_Loggin]

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.

“They’re trying to come up with every conceivable idea that might alleviate energy prices, including the exercise of emergency powers and authorities and national defense reasons to address the supply chain disruption in the Strait of Hormuz,” an industry insider told the outlet.

https://www.msn.com/en-us/money/markets/trump-officials-prepping-for-nightmare-scenario-at-gas-pumps-report/ar-AA1ZWmOM

At the same time, they're trying to stymie alternative energy sources.

[pwb]

1. What?

Drill baby Drill was suppose to make us self sufficient? More puke lies.

[dem4decades]

2. "At the same time, they're trying to stymie alternative energy sources."

In other words, you can't save any money, but you can give your last dollar to my oil executive friends.

[BannonsLiver]

9. I've always viewed green energy as just as much of a national security play as anything.

But these pinheads and the GOP pinheads before them have never grasped that or cared more about contributions from fossil fuel companies than national security. Probably a combo of both.

[Ferrets are Cool]

3. They would try to empty the ocean into a bathtub with a childs bucket.

They are clueless.

[Blues Heron]

4. Just when every last redneck has about the least efficient car known to man- the 21st century American pickup

D’oh!

Next time vote woke, or go broke morans

[hatrack]

5. Maybe they can start wars with another 3 or 4 random countries . . . .

That'll distract voters for at least another week or two.

[sop]

6. Trump eliminated the $7,500 federal tax credit for electric vehicles, a vital incentive for buying EVs.

"Analysts predicted an immediate and dramatic decline in EV sales after the Trump administration revoked the tax credit. Ford CEO Jim Farley predicted that EVs would lose half their market share, which had climbed to 8.1% by 2024."

https://carbuzz.com/electric-vehicles-trump-administration/

[tanyev]

7. "All hands on deck! We need lots of meme ideas to deny and obfuscate!"

[Bobstandard]

8. Trump says we produce all the oil we need

If that is so, the easy solution is to set the price that oil companies pumping US oil and producing gas can charge in the US and restrict their sales to the US. This, of course, will never happen. Now that the Gulf of Hormuz is closed, world oil prices have skyrocketed and we wouldn’t want American producers to be denied access to those markets and profits. Screw you and your work pickup!

[ProfessorGAC]

11. Close To The Truth

Not that he knows this, but the US only pumps 2/3rds of the oil we consume.
But, another 15% is produced by Canada, who until last year was our best friend.
So, we were nearly energy independent of all non-North American oil until he opened his stupid trap.
But, he said the US, which is wrong, meaning he just made it up, aka lying.

[IbogaProject]

10. This was the scam

Oil consumption likely peaked last year and now demand will continually fall. Capitalism depends on unending growth. So this is to alter the oil markets and make USA oil better able to compete, while giving big oil extra profits to paper over the impending decline in oil use.

[ProfessorGAC]

12. Requires Strategic Thinking...

...and financial market knowledge not in evidence.
Sometimes the easiest explanation is incompetence.

[ananda]

13. I got my oil changed yesterday.

It cost $115.

Imagine what it will be next month.

I did get a free car wash with it,
and a total checkup of the car.