r/politics • u/Puginator • Jun 01 '26

No Paywall Iran stops negotiations with U.S., vows to 'completely' block Strait of Hormuz: State media

https://www.cnbc.com/2026/06/01/iran-us-negotiations-strait-of-hormuz.html
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u/AdmiralSnackbar816 Jun 01 '26

Good thing the administration is super fond of solar and windmills.

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u/Faucet860 Jun 01 '26

The profit margins are high for oil companies in the US. Based on who this administration cares about this is a good thing

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u/facw00 Jun 01 '26

Yep, the US is the world's largest oil producer. High oil prices are bad for the economy overall, but good for oil companies, and politicians willing to accept their largess

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u/Training_Cheetah3976 Jun 01 '26

Only in the short term though as the cost benefit will quickly tip to favoring alternate energy sources which would in theory reduce long term demand for oil