How rising oil prices today compare to 1974’s energy crisis
The economic risks of the war in Iran are getting real for Americans at home. Stock markets ended the week down again as the conflict dragged on. This as U.S. crude oil costs are pumped up. Andres Gutierrez has more on the energy shock.
#oil #gas #us
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18 Comments
The Biden releases of the Strategic Petroleum Reserves were initiated to stabilize rising gasoline prices in the short term, which spiked following Russia's invasion of Ukraine and the global COVID-19 recovery where refineries output were low. It was to stimulate the US economy. Trump’s release of the Strategic Petroleum Reserves is because of his mess. The refineries output because of Trump won’t recover anytime soon. “Countries agree to record release of emergency oil reserves as prices surge…All 32 of the International Energy Agency's (IEA) members…will release 400 million barrels…, it would only amount to around three or four days' worth of global supply…”11 Mar 2026 BBC. Trump’s mess is becoming a problem in Western countries now. The 1974 oil embargo was started by the Arab oil countries, this is all Trump's doing.
Typical GOP foreign war tax cuts 4 the wealthy economy 🤔 enjoy
Where is that MAGA troll (J Scott?) who was posting "thanks Trump for $1.95 gas" comments on every single news video?
The worst decision in the history of the world!!!! Thank you DJT!
Thanks to the last 4 republican presidents 😂
Thanks to Donald Trump We might have the gas lines of the 70s back in service.
US produces oil from 32 states that can maintain cheaper ice but instead of that they sale the oil & buy from canada thats not stupid that is corruption to create inflation
so how did that compare anything to 74? other then there were lines and ration coupons that were never used? and could we get an explanation as to why helium is up? what does that have to do with oil? and what do we use helium for? are we worried our zeppelins will now have to be filled with hydrogen like the hindenburg?
Remember the good ole days when autopen was president and gas was around 5 dollars a gallon
Operation epic fail 😂
IRAQ AFGHANISTAN USA and UK colonized Iran and stole its oil 1979 and Kimani stepped in and daid USA UK GTFOH!! https://youtu.be/4DL9E40eEfY?si=PJR_sAGs6WPT9BKr
I blame Trump. Who do you blame?
Operation Epic Blunder.
It was 1973
I rather still prefer this president to fight the war then democrat presidents
Americans is about to feel the steel of starting the war that will crush the US.
Btw – Americans, don't forget to thank Trump and Israel for this, send them a thank you card:)
operation aipac fury
I find the American people kind, but their government is terrible. The president is elected by the people, but they use the money of wealthy tycoons to campaign, so whoever comes to power is just a puppet of those tycoons. They talk about "America First," but homelessness and drug addiction are rampant, while wealthy corporations get richer. Wherever America intervenes, there is political instability. Why? Because instability necessitates American protection and arms sales. In fact, without wars in the world, American arms corporations would starve. Therefore, as long as America remains the world's number one superpower, the world will continue to experience chaos and war.