President Trump is briefed on the Iranian attack at Mar-a-Lago. Secretary of State Marco Rubio and Chief of Staff Susie Wiles sit to his left. (White House photo by Daniel Torok)
Really ugly consequences are beginning to show because of President Trump’s ill timed and totally unnecessary war against Iran.
Oil is not flowing from the Middle East to lubricate our economy as Iran threatens to attack ships in the narrow Strait of Hormuz, roughly 37 miles wide.
Iran’s long time Supreme Leader Ali Khamenei, 86, was killed in the U.S./Israeli attack. (Photo: Irani.tr)
Saudi Aramco CEO Amin Nassar called the interruption in the flow of crude oil leaving the Gulf states, “the biggest crisis the region’s oil and gas industry has faced.”
He added: “There would be catastrophic consequences for the world‘s oil markets,’’ if these interruptions continue.
If they do continue, it is by Iranian design, and there is no end in sight other than a negotiated conclusion to this war which Iran and Trump have both refused.
The Iranians struck three oil tankers in the Strait of Hormuz yesterday, assuring that no other oil tankers will attempt to make that perilous run to open sea.
Aircraft on the flight deck of the USS Abraham Lincoln (CVN 72) in support of Operation Epic Fury, Feb. 28, 2026. (U.S. Navy photo)
Although Trump has said that the US Navy will escort oil tankers, the Navy contradicted him and said that’s quite impossible at this time.
Crude oil hit $120 per barrel on Monday, and while it backed off this high on Tuesday, it topped $100 again on Thursday (Mar. 12). The cost was still 50% more than it was just two months ago.
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This is not sustainable.
Both sides to this war are posturing, and while they do, their heels are dug in and they are not budging from their positions.
The interruptions in the flow of oil, however, are real. A drone strike hit the biggest refinery in the UAE after which it shut down production.
Other nations, unable to ship their crude oil are not producing anymore; instead they’re selling from their reserves, stored outside the region. This will not last forever, and it will take time for them to resume production once they feel it is safe to do so.
Against this background, and not even necessarily related to the oil issues, Moody’s and other credit rating bureaus have downgraded the United States’ credit ratings.
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This will mean a rise in interest paid by the government on its debt, and that will impose more strain on the economy.
What in the world was Trump thinking, if anything, when he jumped into this war with both of his golf shoes on and his eyes closed?
So far he and his amateur administration play the moron. No peace prizes, but Oscars all around.
The Dignified Transfer at Dover Air Force Base, Delaware of six U.S. soldiers killed in an Iranian drone strike, March 7. (White House Photo by Daniel Torok)
Trump’s stated positions flip-flop like a flounder on the deck of a fishing boat.
On one hand, he has said that if gas prices rise, so what? On the other, he seems to have an eye on the stock market and he has made quips to the press indicating that the war will soon end because he has won.
Yet at the same time, he says the war could go on for weeks. What a sh*t show.
He has warned Iran not to attack ships or they’ll suffer the consequences; the Iranian reaction is to do exactly the opposite of what he is demanding.
This is the sort of resistance he faces from a hostile Iran who is well aware that a tanker is a large target and an attack will cease shipping of oil through the straits.
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Here’s the thing. Oil is critical to the American economy. Some estimates indicate that oil contributes 8% to the GDP although some of that may be attributable to our domestic oil production.
The US consumes more than 20 million barrels of oil every day and it is our primary source of energy for industry and for transportation.
Fertilizer, plastics, fuel, all come from oil. Oil also create substantial tax revenue for federal and state governments.
The United States is a major producer of oil, but it is still a net importer, especially of the sort of crude oil needed to produce gasoline and diesel fuel.
Prices of crude and it’s refined results are rising quickly. Inflation rates are rising.
Seven percent of oil imported into the United States comes from the Middle East and the US economy is vulnerable to supply interruptions.
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Consider that every $10 a barrel increase in the price of oil will cost consumers $450 per year if the prices stay up over that period. It’s no wonder that voting consumers are very price sensitive to oil and gas.
While the Middle East is normally in a position to release more oil in times of hardship in order to balance out supply and demand, if the producers cannot get their oil to market they can’t help with our supply problems.
Have you been to a gas station recently? If not, best to prepare yourself for the shock. (Prices have increased by 50 cents a gallon on average since the war started)
Trump’s war has caused this situation and his war has become so dangerous to the economy that the International Energy Agency is planning to release 400 million barrels of oil into the world economy.
Unfortunately, that will probably not reduce prices at the pump.
Economist have warned that a continuation of this war with Iran could lead to a recession.
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“The US is and has been on the precipice of a recession for quite some time. It only requires one thing to knock us over. Could oil do it? Absolutely,” said Justin Wolfers, a University of Michigan economics professor.
Against all of this, Trump continues to wage his unnecessary and highly dangerous to our economy war against Iran.
Trump does not care or understand that our economy is driven by consumer spending, and that most consumers live on a fixed income from salary or retirement.
Nor does he care or understand that many consumers have no financial reserves to fall back on. As they dig deeper into their wallets to pay for gasoline, other spending will give away.
When consumers reduce spending for a sustained period, jobs are lost and capital does not get spent by businesses. This is the scenario we are looking at unless Trump finds a quick exit ramp from his war.
If Iran allows him to do so. He may think he is, but he is not in control of this war. And then, there is the Israeli position to consider. What will they do?
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What in heaven’s name was Trump and Hegseth thinking when they attacked Iran while negotiations were in progress? Were they even thinking?
Did even one thought cross their collective minds? Did they even begin to comprehend the risk to the economy? Did they understand that they were playing with fire? Such arrogance.
Did they consider whether they could even end a war they started with such BS false bravado?
My advice to plaintiffs who want to file suit is that once you do, you are no longer in control of the litigation. There are now two parties on the dance floor. Neither controls the tune.
Did these child-like chronological adults understand for a nanosecond that Iran had the capabilities of striking back? When they killed the supreme leader, might it have occurred to them that a new, more aggressive and even angrier leader would take his place?
That oil would not ship through the straits? Did they understand that some companies would stop production? Did they understand anything about this war?
If they did, was this all OK with them? Was it OK with Congress, that insipid branch of government with collective ED that is supposed to provide checks and balances on the executive branch but has failed miserably in its constitutional duties? Miserably.
Iran is well aware of the leverage it has with oil and it is not going to give up. It’s endgame is damaging the US economy, and turning voters against this administration and those in Congress who have done nothing to rein in this administration’s war efforts.
Why couldn’t Trump understand this leverage before he started this war?
We may soon learn just how stupid our so-called leaders are. How long will it take — and at what cost to the economy and to the American consumer — for them to understand that while they may destroy physical Tehran, some of its military and replenish-able oil stockpiles, Tehran will not back down from the United States.
Does Mr Trump understand the reason are not civil, but are deeply rooted religious reasons. Muslims against the infidels?
At the same time that this oil related damage is occurring to our economy and the world’s, Trump’s fully unnecessary war is costing the Amercan taxpayers $1 billion or more per day. We cannot afford this.
With his thoughtless actions and incompetent advisors Trump has ignited a fire storm on our economy and the world’s.
If he and Israel do not end this war and figure out a way to keep the Iranians from stopping oil traffic even post war, we are in deep doodoo.
So who is really in control here?
Trump had no understanding of what he got us into. Hegseth? Oh please.
And now that we’re there, we, as well as the Iranians, appear to be in a fight for our lives, at least in our case our economic lives.
AMERICA FIRST; NO MORE WARS. Uh huh.
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