Trump's seven-month war with Iran is torching his own energy agenda and driving permanent shifts away from the fossil fuels he promised to unleash—and American consumers are paying the price at the pump while Washington chases two foreign conflicts at once.
Oil prices spiked 4% this week before retreating slightly on word that Tehran might talk, with Brent crude settling at $102.13 a barrel and West Texas Intermediate at $91.56, according to Fox News. But the damage is already done. The International Energy Agency now projects global oil demand will fall 2.5 percent in 2026 compared with last year—a sharp reversal from its January outlook, which called for strong growth. Raw Story, citing the Washington Post, reports that the swing is large enough to put global fossil fuel emissions on pace for their first yearly decline since the COVID pandemic.
The bigger problem for the industry—and for Trump's
