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.

  • prole
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    13 days ago

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

    • innermachine@lemmy.world
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      13 days ago

      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.

        • innermachine@lemmy.world
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          13 days ago

          Yep and the same cart of groceries I spent 100 bucks on last year is about 200 now :( Trump was right. So much winning we’ll get sick of it. Trouble is only the billionaires are winning, at our expense. I’m not having fun anymore.

        • innermachine@lemmy.world
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          12 days ago

          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.

      • cmbabul@lemmy.world
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        12 days ago

        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
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          12 days 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
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        12 days 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.

    • dan1101@lemmy.world
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      13 days ago

      The only thing that keeps most people complacent is they can manage to scrape by with their meager salary buying crappy goods. Take that away and Americans might get more revolutionary.

    • SaveTheTuaHawk@lemmy.ca
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      13 days ago

      No one cares about victims of rape and pedophilia, that’s other people, caring about other people is un-American.

    • chiliedogg@lemmy.world
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      12 days ago

      When people are struggling to get by and exhausted from the news, they end up focusing on themselves. The reality is most Americans don’t have the energy, time, or resources to focus on something that’s disconnected from their lives - including attrocities on the other side of the planet.

      But gas prices hit HARD. When you’re spending 20-30% of your income on gas and the price of that gas doubles, it’s a problem even before it makes everything else skyrocket in price.

      • iegod@lemmy.zip
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        12 days ago

        That excuse is honestly not acceptable. Americans have had ample time and opportunity to consider the impact of their voting decisions. This is their choice. Collectively, the country has failed.

        Too ignorant, selfish, or stupid.

  • protist@retrofed.com
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    14 days ago

    The best part is that even if everything in the Strait were to return to normal tomorrow, the oil price shock is just barely beginning to filter through the system, so there’s absolutely nothing Trump can do to stop what he caused.

    • empireOfLove2@lemmy.dbzer0.com
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      14 days ago

      Oh yeah. Global logistics with slow-boat tankers are scheduled multiple months in advance to keep the machine flowing. With every single route now completely thrown awry, there’s no going back for at least a year.

      • Aceticon@lemmy.dbzer0.com
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        13 days ago

        And then there is the whole inflation feeding through into Fertilizers (mainly from higher Natural Gas prices rather than Oil prices), in turn feeding through into Food prices, all of which carries even long delays to fully emerge in consumer prices because of the time food takes to grow (more so if you think cattle since fertilizer prices indirectly push costs up through the increase in feed prices, so there’s even more delay there than for something like corn).

        Just the first month of war has baked in many months of rising Inflation.

      • CileTheSane@lemmy.ca
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        13 days ago

        At which point gas stations will just keep prices the same as people have gotten used to it and blamed Trump for it.

    • Lemmyng@lemmy.world
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      13 days ago

      “there’s absolutely nothing Trump can do to stop what he caused.”

      Assuming he won’t just abandon it and make it someone else’s problem, like he does with literally everything else he touches.

  • wonderingwanderer@sopuli.xyz
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    13 days ago

    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…

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          12 days ago

          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.

    • VinegarChunks@lemmus.org
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      13 days ago

      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.

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          12 days 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!

      • mrgoosmoos@lemmy.ca
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        13 days ago

        they’re also putting some new programs on hold, so at least they’re not all outright cancelled yet

        but oh boy have a lot been cancelled. we built a huge cell that was shipped to the customer and scrapped the next year. the customer actually ended up taking apart the tools we built and shipping us back a bunch of the components to build them another cell for a different project. that was neat.

  • HulkSmashBurgers@reddthat.com
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    12 days ago

    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.

    • prole
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      12 days ago

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

      • The D Quuuuuill@slrpnk.net
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        12 days ago

        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
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          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?

          • The D Quuuuuill@slrpnk.net
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            12 days 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

        • Nate Cox@programming.dev
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          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.

          • The D Quuuuuill@slrpnk.net
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            12 days 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”

    • CharlesDarwin@lemmy.world
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      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.

  • TigerAce@lemmy.dbzer0.com
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    13 days ago

    The only big difference between Adolf Hitler and Donald Trump is that Hitler didn’t sexually abuse children.

    Comparisons:

    • never drinks alcohol
    • tariff war which is worst for themselves
    • oil shortages by bad planning
    • declaring wars
    • stealing Nobel peace prize (was Goebbles, but whatever)
    • fucking up the economy
    • started a world war
    • is senile AF
    • blames minorities for everything
    • wants to get rid of minorities by any means necessary
    • doesn’t care about rules or laws, human rights or war crimes
    • wants to build megalomaniac buildings
    • only recognizes self appointed judges
    • builds a close circle of radicalized idiots around him who can’t say no to him
    • empoweres criminal enterprises, surrounds himself with and protects criminals, steals from the poor, creates a regime enriching itself illegally

    Should I continue?

          • TigerAce@lemmy.dbzer0.com
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            12 days ago

            Napoleon III was born 20-04-1808

            There were more than one Napoleons.

            Napoleon III, a descendant of Napoléon Bonaparte (Napoleon I), became France’s first President in 1848. After his four years term, he seized power through a Coup d’état in 1851 and became the country’s Emperor.

            Birthday: april-20 1808

            Birthplace: Ajaccio, France

            Death Year: 1873

            Age at death: 65 years old

            • samus12345@sh.itjust.works
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              Ah, so he was. However, if you just say “Napoleon” he’s not the one that people will think you’re referring to. That III is very important.

              • TigerAce@lemmy.dbzer0.com
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                Yeah my bad. I only know it because a friend of mine has his bday that day and he always says it’s the same bday as Hitler and Napoleon. I assumed he was right, I also just found out it was Napi III.

      • captainlezbian@lemmy.world
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        13 days ago

        His older brother, Fred, died of alcoholism related illness. If you believe Fred’s daughter (the anti trump psychologist who wrote a book on her uncle) his alcoholism was a byproduct of the abusive household that they (Fred and Donald) grew up in.

        Sobriety (alcohol) in response to that seems to be a rare bit of Donald making a wise choice, though it could easily be him attempting to one up his brother

      • TigerAce@lemmy.dbzer0.com
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        Hitler never drank, and Trump can’t drink because it would kill his only braincell. But he is also known to never, or rarely, drink alcohol.

    • Kage520@lemmy.world
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      They are bracing for the voters to finally turn on them. Commit fraud? It’s fine my gas is cheap. Sex with children? Eh whatever I don’t want to consider if that’s true or not as long as my gas is cheap. Bomb a school overseas? Whatever you’ve gotta do to keep my gas cheap. GAS PRICES ARE UP?! WTF IS THIS ADMINISTRATION DOING?! VOTE THEM OUT.

      It’s sickening, but it seems the price of gas is really all that matters to the Republican voter.

      • RememberTheApollo_@lemmy.world
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        This country has done nothing except wait for someone else to solve the “trump problem.” Protests are great to show unity and dissatisfaction, but I don’t think the regime cares. Protests are not force, and the only thing, if it isn’t obvious, this administration understands is abuse and use of force. They’d probably be fine with a Tiananmen Square scenario in the US, it would justify the final grab for power.

        That said, I hope you’re right and gas is finally enough to force change. Hopefully we don’t replace one idiot with another.

  • wuffah@lemmy.world
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    14 days ago

    The cost of diesel, the lifeblood of the U.S. economy powering freight and manufacturing, also pushed past $5 a gallon this month, marking the highest rate since 2022. Experts have warned that the elevated price of diesel, made from crude oil, will trigger knock-on effects on groceries, shipping and construction.

    Around 80% of Americans live in cities, where there is nowhere to grow realistically self-sustaining quantities of food. If people can’t buy groceries because it’s no longer economically viable to ship food products to stores, what’s the point of anything else?

    • Shindo66@lemmy.world
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      Kind of an off point, but in the US, if the options are: grow your own sustaining quantity of food or starve to death. We’re all starving to death.

  • tal@lemmy.today
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    14 days ago

    On March 20, he fumed that NATO allies have refused to help secure the strait, but he later appeared unconcerned. “At a certain point it will open itself,” he said.

    I’d say that that sounds promising for EV manufacturers.

    • Lemmyng@lemmy.world
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      He really expects everything to “open itself” for him like some sex worker with “9th layer of Hell” standards.

    • TheHighRoad@lemmy.world
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      12 days ago

      I just bought a vehicle after a lengthy search because an affordable, good quality EV landed in my lap just the other day like manna from heaven. Divine providence? Probably not, but I’m feeling pretty good about it right now.

  • BigMacHole@thelemmy.club
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    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!

    • FaceDeer@fedia.io
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      14 days ago

      Do you sometimes find yourself needing to buy things? Those need to be shipped to the places where you buy them. And the parts they’re made of need to be shipped to the places where they’re manufactured. You pay for all that when you buy them.

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          You’ll have the same amount of money, but things will cost more so you won’t be able to buy as much.

          This is some very basic economics.

          • Catoblepas@piefed.blahaj.zone
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            I don’t know how else to explain that by taking public transit I’m not paying for gasoline to power a personal car, meaning money I would have spent on gasoline from the gas station is money I now have for more expensive goods I can’t avoid buying, like food. People who aren’t taking public transit are paying for more expensive shit and also more expensive gasoline.

            This is basic math.

            • FaceDeer@fedia.io
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              And I don’t know how else to explain that your laughter is misplaced because you’re going to suffer right along with everyone else anyway.

              You’re saving a bit on gas by taking public transit. Whee, bully for you. Lots of people save a bit by doing little things to save money. I keep the thermostat in my house lower than most people do because I like wearing fluffy housecoats instead, but I’m not laughing. It doesn’t protect you when everything gets more expensive.

              • CerebralHawks@lemmy.dbzer0.com
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                13 days ago

                They’re laughing at you/us because they don’t pay for a car, which means either they don’t have a job or they live in a very population dense metropolitan area where the cost of living offsets the money they save by not having/needing a car. So yes in those areas you can have a car, but parking is severely limited, you pay for a parking space, parking just about anywhere else gets you towed, so most people just take the bus/train. If the bus/train is late, you might lose your job, but there are other jobs and your boss is probably late sometimes because they also can’t afford a car. They get accustomed to this life and shame people who have cars because they envy their freedom, and their lower cost of living. Misery loves company, after all.

                But they are right in that they don’t have to pay for gas, or car insurance, or car maintenance. They still pay it in higher rent, utilities, and goods and services in the area. But they consider those costs sunk and therefore, do not factor them in. They think they’re winning, when really, at best, they’re no better than we are, and in some ways they are, but in many ways they’re just as bad if not worse. But they’re also shaming us for living the way we live, so that’s worse too.

            • Fondots@lemmy.world
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              The goods you buy are transported to the stores you buy them from with fossil fuels

              The public transit is, in all likelihood, powered by fossil fuels, which may make prices go up

              Even if it’s an electric train, or your goods are being delivered by electric trucks, etc. there’s a good chance that the electricity is being generated by fossil fuels

              But even if it’s not and it’s coming from solar, hydro, nuclear, etc. those are still likely reliant in some way on fossil fuels some extent for vehicles used to provide maintenance, deliver new/replacement parts, etc. and probably for backup generators to make sure critical systems stay powered in the event of an emergency shutdown, so the price of the electricity is going to go up.

              You’re really not as insulated from this as you seem to think, basically our whole economy is based around fossil fuels, when the price of them goes up, the price of literally everything else does as well. Sure, you’re not outright paying directly for fuel, but everything else you are paying for is going to go up before too long.

              Edit: also a lot of plastics and countless other materials you almost certainly use daily are made from petroleum.

  • Maggoty@lemmy.world
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    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.

      • Maggoty@lemmy.world
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        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.

      • zarkony@lemmy.zip
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        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 strait of Hormuz.

        I’m convinced the strait 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.

        • VinegarChunks@lemmus.org
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          The point is that banning the export of US oil would cause oil to stop being a globalized commodity (in the US.) US production and US consumption have not changed since the Iran war started. But US prices are up since US production is being shipped to places where their supply from Hormuz is cut off.

          Other responder said that US refining can’t refine US oil, which would be extremely odd and I hadn’t heard that before but if true would indeed destroy my logic here.

      • Bassman1805@lemmy.world
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        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
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          12 days ago

          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 [he/him]@pawb.social
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            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

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    14 days ago

    The GOP already knows that they have lost the majority, so they try every trick in the book to keep non-republicans from voting. But with those gas prices, even hardcore country yokels who voted for anything with “REP” to it, dead or alive, might start thinking about this.

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      If you live in the city there’s probably a bus that runs nearby even if it sucks. If you live in rural Montana you probably try though F-150 over a dozen miles to the nearest grocery store