"Look, again, I can't predict the price of energy in the short term or even the medium term, but what we're doing is ending a 47-year conflict, Wright said. Iran has fought death to the United States for 47 years, death to Israel, and as we saw when the conflict broke out, they attacked all of their neighbors in the Middle East that had no involvement in the conflict whatsoever. If you have a hostile, unstable power like that, you simply cannot allow them to have nuclear weapons. That was a consensus opinion all my adult life, he continued."
"After insisting that prices would come down once the Strait of Hormuz was opened, Welker pressed Wright with a report from JP Morgan Chase that warned gas prices could spike further and spike higher than they are already as refiners prioritize jet fuel production at the expense of other products. Should Americans be prepared for the possibility of paying $5 a gallon for gas? Welker asked."
"I'm shocked to see Democrats come out of the woodwork now, somehow not worried about Iran getting nuclear weapons. I know you're saying you can't predict how high gas prices will go, but I don't hear you ruling out the possibility that they could in fact go to $5 a gallon, Welker pressed. Well, I'm just avoiding price predictions, the"
Energy Secretary Chris Wright declined to predict short- or medium-term energy prices as the Strait of Hormuz deadlock continued to pressure global markets. The strait carries about one fifth of the world’s supply, and Iran’s effective shutdown of the route spiked oil prices. NBC News pressed Wright after JP Morgan Chase warned gas prices could rise further as refiners prioritize jet fuel production over other products. Wright said prices would come down once the strait reopened, but he would not rule out higher prices such as $5 per gallon. He argued ending a decades-long conflict and preventing Iran from obtaining nuclear weapons was necessary, and he criticized Democrats for not appearing concerned about Iran’s nuclear ambitions.
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