“Brown University’s Watson School of International and Public Affairs estimates the conflict’s hit to consumers from higher petrol and diesel prices was $41.5bn as of Sunday night — or $316 per US household.”
LockOrganic2730 on
Torching all our money while enriching himself and his family. Somehow still has a very loyal base. I’m not optimistic it’s going to get better anytime soon. Even if the Dems sweep the midterms, the amount of damage to be undone will be too great a task. Also, the old guard Dems are pro-Israel, so we can’t expect a drastic change on foreign policy in the middle east either.
USA46Q on
That’s $40 billion to win an illegal war that’s not a war, and it doesn’t include the cost of the operational name rebrand to hide the fact they’re losing the war they said they’re winning… which is now even more illegal because they’ve passed the 60 day deadline without congressional approval.
AmyWilliamse on
“America first” somehow always ends with Americans paying more at the pump while defense contractors cash another check.
Icy-Reporter-6322 on
The bill always arrives domestically. People sell foreign-policy chest-thumping as strength, then act shocked when fuel prices, insurance, shipping and household costs remember that geopolitics is not a bumper sticker.
PopPalsUnited on
Maybe Trump can foot some of the bill with all of his newly acquired wealth.
supercali45 on
Tariffs and then this .. this isn’t gonna be good in July
Mikethebest78 on
Well he said it himself he doesn’t care about ordinary people.
chowderbags on
It would’ve been cheaper to just pay Iran to not develop nuclear weapons.
bryans_alright on
Tell me again, what was Trumps hidden agenda for starting this war? What wasn’t told to the American people.
Choice-of-SteinsGate on
We’re in this mess because TRUMP’S WAR has caused a global energy security crisis unlike anything we’ve seen in recent history and the price of oil to soar.
Americans have collectively paid tens of BILLIONS more for gas than they otherwise would have.
Anyone who doesn’t blame Trump for these surging energy costs is either in denial or wilfully uninformed (or a sniveling sycophant).
Before the war, Trump foolishly dismissed concerns about Strait of Hormuz closures, even though he was explicitly warned that Iran would resort to these countermeasures that have Trump panicking because of ongoing global trade disruptions, rising oil prices, and major production setbacks, and how these things are affecting his ratings.
We’ve also managed to anger both our European and Middle East allies due to the extent of the impact of this global energy crisis.
Energy costs are rising around the world. Massive oil infrastructure has been damaged or destroyed.
Oil production and global trade will continue to face significant and long-term disruptions.
The Strait of Hormuz absolutely affects us contrary to Trump’s claims. Oil is a global market. When the cost of crude oil goes up, we all pay the price. It’s baffling how Trump doesn’t understand this…
Nearly every country around the world is dealing with the blowback of this crisis.
And even if the war ended tomorrow, the economic toll would still be devastating.
Major oil producers have been forced to shut in production, meaning that they can’t just magically turn the faucet back on.
Tankers also move at a very slow pace and will take a long time to move new oil shipments around the world.
It will take months, even years for energy production to return to prior levels. The cost of crude oil and gas won’t be suddenly restored to their pre-war levels either.
Or as the saying goes, “rockets and feathers.”
Because when the cost of crude oil goes up, gas prices skyrocket quickly, but when the cost of crude oil goes down, gas prices float down slowly like a feather.
And it’s not just the price at the pump that’s skyrocketing. Costs are expected to rise for many goods and services.
There’s also the growing likelihood of a recession.
Rising costs are persisting, recent GDP figures reveal a sinking economy, the inflation rate is expected to climb…
And with the price of fertilizer rapidly increasing, food costs are expected to rise considerably too.
To make matters worse, the greatest beneficiary of the war in Iran is RUSSIA.
Russia’s federal budget relies on oil prices, and because the war is causing Brent crude prices to surge, the US has incidentally saved Russia’s ass by providing the Kremlin with the capital it needs to sustain its war efforts in Ukraine.
Before Trump’s war, Russia’s economy was facing massive hurdles due to economic sanctions and the cost of the war itself. This could have worked out immensely in Ukraine’s favor.
China has also benefitted from this war.
They’ve made significant geopolitical gains because Trump is devoting the US’s attention and resources to another pointless war in the middle east and there’s less strategic focus on Asia, which China is no doubt aware of and is planning accordingly.
Iran is also demanding that it be able to exact tolls on ships and tankers traveling through the Strait, and that these vessels pay in Chinese yuan or stable coin, not US currency.
And while Trump is damaging our alliances and alienating the rest of the world, China is building up its global influence.
Worse yet, thanks to Trump, the Russia-China-Iran axis has hardened. Where it was once a cautious relationship, it is now a more coordinated one.
11 Comments
Per the article:
“Brown University’s Watson School of International and Public Affairs estimates the conflict’s hit to consumers from higher petrol and diesel prices was $41.5bn as of Sunday night — or $316 per US household.”
Torching all our money while enriching himself and his family. Somehow still has a very loyal base. I’m not optimistic it’s going to get better anytime soon. Even if the Dems sweep the midterms, the amount of damage to be undone will be too great a task. Also, the old guard Dems are pro-Israel, so we can’t expect a drastic change on foreign policy in the middle east either.
That’s $40 billion to win an illegal war that’s not a war, and it doesn’t include the cost of the operational name rebrand to hide the fact they’re losing the war they said they’re winning… which is now even more illegal because they’ve passed the 60 day deadline without congressional approval.
“America first” somehow always ends with Americans paying more at the pump while defense contractors cash another check.
The bill always arrives domestically. People sell foreign-policy chest-thumping as strength, then act shocked when fuel prices, insurance, shipping and household costs remember that geopolitics is not a bumper sticker.
Maybe Trump can foot some of the bill with all of his newly acquired wealth.
Tariffs and then this .. this isn’t gonna be good in July
Well he said it himself he doesn’t care about ordinary people.
It would’ve been cheaper to just pay Iran to not develop nuclear weapons.
Tell me again, what was Trumps hidden agenda for starting this war? What wasn’t told to the American people.
We’re in this mess because TRUMP’S WAR has caused a global energy security crisis unlike anything we’ve seen in recent history and the price of oil to soar.
Americans have collectively paid tens of BILLIONS more for gas than they otherwise would have.
Anyone who doesn’t blame Trump for these surging energy costs is either in denial or wilfully uninformed (or a sniveling sycophant).
Before the war, Trump foolishly dismissed concerns about Strait of Hormuz closures, even though he was explicitly warned that Iran would resort to these countermeasures that have Trump panicking because of ongoing global trade disruptions, rising oil prices, and major production setbacks, and how these things are affecting his ratings.
We’ve also managed to anger both our European and Middle East allies due to the extent of the impact of this global energy crisis.
Energy costs are rising around the world. Massive oil infrastructure has been damaged or destroyed.
Oil production and global trade will continue to face significant and long-term disruptions.
The Strait of Hormuz absolutely affects us contrary to Trump’s claims. Oil is a global market. When the cost of crude oil goes up, we all pay the price. It’s baffling how Trump doesn’t understand this…
Nearly every country around the world is dealing with the blowback of this crisis.
And even if the war ended tomorrow, the economic toll would still be devastating.
Major oil producers have been forced to shut in production, meaning that they can’t just magically turn the faucet back on.
Tankers also move at a very slow pace and will take a long time to move new oil shipments around the world.
It will take months, even years for energy production to return to prior levels. The cost of crude oil and gas won’t be suddenly restored to their pre-war levels either.
Or as the saying goes, “rockets and feathers.”
Because when the cost of crude oil goes up, gas prices skyrocket quickly, but when the cost of crude oil goes down, gas prices float down slowly like a feather.
And it’s not just the price at the pump that’s skyrocketing. Costs are expected to rise for many goods and services.
There’s also the growing likelihood of a recession.
Rising costs are persisting, recent GDP figures reveal a sinking economy, the inflation rate is expected to climb…
And with the price of fertilizer rapidly increasing, food costs are expected to rise considerably too.
To make matters worse, the greatest beneficiary of the war in Iran is RUSSIA.
Russia’s federal budget relies on oil prices, and because the war is causing Brent crude prices to surge, the US has incidentally saved Russia’s ass by providing the Kremlin with the capital it needs to sustain its war efforts in Ukraine.
Before Trump’s war, Russia’s economy was facing massive hurdles due to economic sanctions and the cost of the war itself. This could have worked out immensely in Ukraine’s favor.
China has also benefitted from this war.
They’ve made significant geopolitical gains because Trump is devoting the US’s attention and resources to another pointless war in the middle east and there’s less strategic focus on Asia, which China is no doubt aware of and is planning accordingly.
Iran is also demanding that it be able to exact tolls on ships and tankers traveling through the Strait, and that these vessels pay in Chinese yuan or stable coin, not US currency.
And while Trump is damaging our alliances and alienating the rest of the world, China is building up its global influence.
Worse yet, thanks to Trump, the Russia-China-Iran axis has hardened. Where it was once a cautious relationship, it is now a more coordinated one.