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By 4ever.news
6 hours ago
Trump Administration Moves to Counter Rising Oil Prices as Iran Conflict Shakes Global Markets

As tensions in the Middle East continue to ripple through global energy markets, the Trump administration says it already has a plan in motion to keep fuel prices under control—and yes, that plan even includes boosting oil production in California. That’s right, California.

Energy Secretary Chris Wright explained during a Sunday appearance on NBC’s “Meet the Press” that the administration has taken multiple steps to offset rising oil prices following the conflict involving Iran.

The surge in prices began after the military strikes of Operation Epic Fury on February 28, when Iran attempted to block U.S. transport vessels from moving through the Strait of Hormuz. That narrow waterway between Iran and the Gulf States carries roughly 20 percent of the world’s oil supply, so when shipping slows down there, markets get nervous fast.

But according to Wright, the administration didn’t sit around waiting for prices to spiral.

“We have done many, many actions to mitigate that price rise,” Wright said during the interview. “You saw the announcement of a coordinated release of 400 million barrels of oil with over 30 nations of the world participating in that. We’ve had allies in the Middle East that moved oil overseas before the conflict started.”

In other words, the administration worked with international partners to release massive oil reserves into the market to stabilize supply.

And that’s not all.

Wright revealed that the administration has also pushed forward new offshore oil production in California—a move that has sparked predictable outrage from the state’s leadership.

“Heck, we just announced yesterday bringing on a meaningful amount of oil production in the state of California from offshore that California has fought foolishly to prevent new American oil to go into their own state,” Wright said. “And we said, ‘Enough is enough,’ and we’ve got new oil production coming on in California.”

California Gov. Gavin Newsom looks on during a press conference. (Photo by Justin Sullivan/Getty Images)

Yes, you heard that correctly. After years of state policies restricting domestic energy production, the federal government stepped in to restart a pipeline system operated by Texas-based Sable Offshore Corp.

The Department of Energy said the decision was made to address supply disruptions created by California’s energy policies, which have left the region—and even U.S. military operations—more dependent on foreign oil.

According to the Department of Energy, California once produced nearly 40 percent of America’s oil. But decades of restrictive policies targeting traditional energy sources have dramatically reduced domestic production, even while fuel demand in the state remains among the highest in the country.

Today, more than 60 percent of the oil refined in California comes from overseas, with a significant portion traveling through the Strait of Hormuz—hardly the most stable supply route during a conflict involving Iran.

Not surprisingly, California Governor Gavin Newsom strongly criticized the move, accusing the administration of trying to restart a pipeline that he says faces legal restrictions.

Newsom claimed the decision would threaten coastal communities, the environment, and the state’s coastal economy.

Meanwhile, Wright made it clear he believes the conflict with Iran could end relatively soon, estimating that the situation may resolve within a few weeks.

During the interview, NBC host Kristen Welker raised concerns about predictions from Iran suggesting oil prices could skyrocket to $200 per barrel.

Wright was quick to dismiss the claim.

“So Iran for 47 years has called the United States ‘the great Satan,’” Wright said. “So because they call us ‘the great Satan’ — I don’t think we are the great Satan; in fact, clearly we’re not — so I don’t listen much to Iranian projections of what’s going to happen.”

In other words, the administration isn’t taking economic advice from Tehran.

Despite the turbulence in global energy markets, the Trump administration says it is using every available tool—from strategic oil reserves to expanding domestic production—to keep American energy flowing.

Because when the United States leads on energy, it doesn’t just stabilize markets—it strengthens national security and keeps the country moving forward. ??