Given the energy disruptions in the Middle East since the war with Iran began and the wild swings in the price of crude oil since then, here are five facts Americans should be aware of about the geopolitics of energy.
First, America is now producing more oil and gas than ever. Since 2022, we have produced more than any other country, including Saudi Arabia. The best way to protect against foreign supply disruptions is to generate every barrel of oil we can here at home.
Second, the Green New Deal was and remains an energy belly flop. Even after $400 billion in tax subsidies have been spent on wind and solar energy, these remain marginal and non-scalable forms of energy. We get 80% of our energy from fossil fuels. The same as it ever was.
TANKERS WILL RESUME NORMAL MOVEMENT IN MIDDLE EAST IN WORST CASE, ENERGY SEC SAYS, ENDING OIL RISE
Third, the Middle East has always been an unreliable source of energy for the US. Since the 1970s, prices have risen dramatically when there has been unrest in the region – which happens about once every ten years.
Fourth, the US is now a net exporter of oil and gas, with by far the largest increases in production. The US is far less dependent on Middle Eastern oil than it has been in decades.
The Ministry of Energy reports:
America leads the world in oil and natural gas production and is producing at record levels.
• U.S. crude oil production reached a record output of more than 13.6 million barrels per day in 2025. • The US currently produces 24 million barrels of oil and liquid fuels per day – more than Russia and Saudi Arabia combined. • The US produces almost as much natural gas as Russia, Iran and China combined, at 110 billion cubic feet per day.
CLICK HERE FOR MORE FOX NEWS ADVICE
Fifth, higher oil prices drive overall inflation because oil is a primary input for everything we produce and consume – from housing to groceries, from healthcare to technology. If we want to keep inflation low, energy prices must fall or at least be stable.
What all this means is that ‘bubble, baby, drill’ is the best strategy to restore a strong economy. This also underlines why “neutralizing fossil fuels” was a foolish endeavor.
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
If Donald Trump is right in saying that the disruptions in Iran’s oil supply chain are temporary, oil prices will almost certainly return to the $40 to $60 range, and the great economic boom of 2026 will be upon us.
CLICK HERE TO STEPHEN “STEVE” MOORE
