Trump, Oil and Iran
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President Donald Trump once boasted of low gas prices. Now, the war in Iran is driving prices back up. What is his job approval rating? See polls.
Democrats have been quick to criticize Trump after the president said he doesn't "think about Americans’ financial situation."
Rep. Jim Jordan was pressed about his remarks during a recent interview with CNN's Kaitlan Collins
Gasoline prices are unusually high, spurred by the war Trump launched with Israel against Iran, which led to the closure of the Strait of Hormuz. Before Iran closed the strait, about one-fifth of the world’s oil flowed through it, and the stalled tanker traffic has hampered oil supplies, increasing prices.
President Donald Trump said May 11 that he wants to suspend the federal gas tax, which requires approval from Congress. Suspending the tax could threaten highway projects and cause a run on gas at a time when supply is low.
I’m fighting to lower costs for Florida families, and that starts with an immediate pause on the federal gas tax to provide immediate relief for Floridians.” Vindman said in a statement.
Government bonds around the world sold off sharply Friday as the price of oil jumped, both driven by developments in the Iran war, politics and trade.
By Mohi Narayan NEW DELHI, May 15 (Reuters) - Oil prices gained more than 1% after President Donald Trump said China wants to buy oil from the United States and as concerns persisted over ship attacks and seizures despite Iran saying about 30 vessels had passed through the Strait of Hormuz.
Our Changing Climate on MSN
Trump just escalated tensions with Iran - and 34% of global oil is caught in the middle
Iran’s importance to the global economy goes far beyond oil exports. This video explains how the Gulf region now controls huge portions of the world’s fertilizer, chemical, helium, and energy trade — much of it flowing through the Strait of Hormuz,