Those who are focused on soaring gasoline prices are “missing the big picture” about President Trump’s war with Iran and should realize how much worse it could have been, Interior Department Secretary Doug Burgum said.
Speaking at a Breitbart News forum, Mr. Burgum said Mr. Trump’s move to dethrone Nicolas Maduro and forge a partnership with the new leadership in Venezuela meant the U.S. had a cushion to withstand the worst of the price shocks when Iran tried to block access to the Strait of Hormuz.
He said that helped keep the price of oil at about $100 and not $200.
And he said things will get better soon.
“The war with the country of Iran is almost over,” he said. “We are going to have a dramatic drop in prices.”
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The secretary, who oversees oil exploration on federal lands in the U.S., also said the artificial intelligence race against China is an existential threat that will require energy dominance.
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