economy
March 12, 2026
Trump pivots to celebrate rising oil prices: 'We make a lot of money'
President Donald Trump pivoted on concerns over rising oil prices, saying that it was poised to make the United States “a lot of money.”
TL;DR
- President Trump now views rising oil prices as beneficial for the U.S., stating that it allows the country to "make a lot of money."
- He believes stopping Iran from obtaining nuclear weapons is a far greater priority than the concern over oil prices.
- The U.S. is the world's largest producer of oil.
- Transit through the Strait of Hormuz has been affected by Iranian drone strikes, despite Trump's claim of it reopening.
- Rising oil prices could significantly influence the Republican party's performance in the upcoming midterm elections.
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