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TAPPER: When will gas prices go back down? CHRIS WRIGHT: You never know exactly the timeframe of this, but in the worst case this is a weeks, not a month thing

Aaron Rupar

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135,846 views • 4 months ago •via X (Twitter)

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🚨 U.S. Energy Secretary Chris Wright on the Iran war’s impact on global energy prices: 1. Prices shouldn’t rise much further: Wright said oil markets are near their ceiling. “They shouldn’t go much higher than they are here because the world is very well supplied with oil.” 2. “Weeks, not months”: Wright acknowledged a “temporary period of elevated energy prices,” but said “in the worst case, this is weeks — this is not months.” 3. “Emotional reactions and fear”: Wright said the spike in prices reflects market panic about escalation. “What you’re seeing is emotional reactions and fear that this is a long-term war… this is not a long-term war.” 4. Logistics issue, not a supply problem: “There’s no energy shortage at all in the Western Hemisphere,” Wright said, adding the disruption is mainly from crude flows being interrupted to refineries in Europe and Asia. 5. Hormuz threat being reduced: Wright said U.S. operations are aimed at restoring shipping through the Strait of Hormuz, claiming “their missile launches are down 90%, the drone launches are down over 80%.” He added early tankers leaving the Gulf may require direct U.S. military protection or escorts while efforts continue to “defang” Iran’s ability to threaten ships. ➤ Drop Site notes the claim that Iranian missile and drone launches have fallen 90% is not supported by activity observed over the past 48 hours. Source: Face The Nation

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Gas prices are still high despite going down a little bit. Trump's answer? They will come down a lot and go back to where they were before. Not holding my breath on this, but opening the Straits and getting oil flow back to normal is one of the most bullish catalysts we need. The sooner it happens, the better.

Gas prices are still high despite going down a little bit. Trump's answer? They will come down a lot and go back to where they were before. Not holding my breath on this, but opening the Straits and getting oil flow back to normal is one of the most bullish catalysts we need. The sooner it happens, the better.

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15,779 views • 1 month ago

"Do you know what the gas prices are right now compared to last month? Gas is down 2.2%. Do you know what it is compared to when Trump took office? It's down by 11%. Groceries since Donald Trump took office, down by 0.46%. The PPI report, a lot of it is in services, but we want services to cost more if they're being done by American citizens, not by illegal immigrants."

"Do you know what the gas prices are right now compared to last month? Gas is down 2.2%. Do you know what it is compared to when Trump took office? It's down by 11%. Groceries since Donald Trump took office, down by 0.46%. The PPI report, a lot of it is in services, but we want services to cost more if they're being done by American citizens, not by illegal immigrants."

Thomas Hern

683,134 views • 11 months ago