Trump Nukes Oil Price Critics, Puts Real Stakes In Perspective

President Donald Trump said that destroying Iran’s nuclear weapons capabilities was worth the price of increasing oil prices. 

Trump made the comments after the price of global benchmark Brent crude oil surpassed $100 per barrel for the second time this week on Thursday morning. The president said increasing prices would generate more revenue for the United States. 

“The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money,” Trump wrote on Truth Social. “BUT, of far greater interest and importance to me, as President, is [stopping] an evil Empire, Iran, from having Nuclear Weapons, and destroying the Middle East and, indeed, the World. I won’t ever let that happen!”

The Pentagon echoed the president’s statement and said the focus of the Iran operation is destroying its ability to develop nuclear weapons for the long term. Secretary of War Pete Hegseth said Iran was developing a conventional shield system to protect its nuclear capabilities. 

While the war continues, Trump said that he would release 172 million barrels of oil from the Strategic Petroleum Reserve. He said Wednesday night that the reserve would be quickly refilled when possible. 

The Trump administration is also considering waiving the Jones Act, a federal law that requires goods transported between U.S. ports to be owned and operated by American citizens. The action could help lower the costs of shipping oil and other products. 

“In the interest of national defense, the White House is considering waiving the Jones Act for a limited period of time to ensure vital energy products and agricultural necessities are flowing freely to U.S. ports. This action has not been finalized,” White House Press Secretary Karoline Leavitt said. 

Since the launch of the Iran operation, gas prices have risen significantly across the United States. The national average on Thursday was $3.59 per gallon compared to $2.94 one month ago, according to AAA.

Trump has also floated using U.S. Navy ships to escort oil tankers through the Strait of Hormuz, where roughly a fifth of the world’s oil flows. Energy Secretary Chris Wright said Thursday that it may happen soon, but said the military was focused on the Iran operation at the moment. 

“It’ll happen relatively soon, but it can’t happen now,” he told CNBC. “We’re simply not ready. All of our military assets right now are focused on destroying Iran’s offensive capabilities and the manufacturing industry that supplies their offensive capabilities.”

“I’ll be over at the Pentagon later today — that is what the military is working on,” he added. 

Mojtaba Khamenei, the new supreme leader of Iran, said in a message released Thursday that they would continue to make passage through the Strait of Hormuz difficult. “Certainly, the lever of closing the Strait of Hormuz must continue to be used,” he said. 

Both Iraq and Oman closed oil terminals on Thursday after two oil tankers were struck by projectiles in the Persian Gulf. Iran took credit for one of the attacks, while Iraqi officials suspected Iran was to blame for the other tanker attack.