"The US-Israeli war on Iran has already led to hundreds of deaths, created an ecological crisis linked to strikes on oil depots and sent fossil fuel prices haywire across the globe. Critics say the war also shows the inherent instability of dependence on oil and gas: unlike wind and solar power, fossil fuel-based energy requires constant inputs of products whose availability and costs are determined by the global market."
"Since the strikes on Iran began late last month, oil prices soared past $100 a barrel to their highest price since the 2022 Russian invasion of Ukraine before falling back to the still unusually high price of about $92 late on Wednesday. By Thursday morning, the price was back over $100. The spike has pushed up the cost of gasoline in which crude oil is a key component nationwide."
"It's an emperor has no clothes moment for Trump's pro-fossil fuel policies and claims to support the working class, said Collin Rees, US policy manager at the climate research and advocacy non-profit Oil Change International. Americans are seeing, in real time, the deep failings of Trump's strategy."
Military strikes on Iran have caused oil prices to spike above $100 per barrel, the highest level since Russia's 2022 invasion of Ukraine, creating widespread market instability and raising gasoline costs nationwide. The conflict has resulted in hundreds of deaths, environmental damage from oil depot strikes, and concerns about broader inflation triggered by crude price increases. Critics argue this situation exposes the fundamental weakness of fossil fuel dependence, which relies on globally determined availability and costs unlike wind and solar power. Trump dismissed concerns about rising prices, claiming oil spikes are acceptable for national security. However, this contradicts his campaign promises to reduce household electricity and gasoline costs through increased fossil fuel production and energy independence, highlighting contradictions in his pro-fossil fuel policy agenda.
Read at www.theguardian.com
Unable to calculate read time
Collection
[
|
...
]