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Latest

White House Freaks Out Over Unsolvable Trump Crisis

The Daily Beast ·
White House Freaks Out Over Unsolvable Trump Crisis

Eric Lee / REUTERS Donald Trump’s closest White House aides are scrambling to control the fallout from his ill-advised war on Iran as fuel prices hit new highs ahead of the midterm elections.

The conflict, launched by Trump in February without congressional authorization, has disrupted the global energy market and closed the Strait of Hormuz, a crucial route for oil shipments, driving up energy prices worldwide.

Brent crude climbed to around $109 a barrel on Monday, its highest level since May, while gasoline has reached $4.32 a gallon and diesel a record $6.23, according to AAA.

According to Politico, the crisis has led to “frustration” in the White House as officials desperately seek an exit strategy before elections that could see Trump lose his grip on Congress.

The cost to American households is mounting.

Brown University’s Iran War Energy Cost Tracker estimates the conflict has added more than $100 billion to U.S. gasoline and diesel costs, with the average household paying more than $750 extra.

The squeeze is also hitting supplies.

An ExxonMobil refinery in Joliet, Illinois, suffered a power outage Sunday and is expected to operate at reduced output through the end of the week, while Costco has reportedly imposed limits on purchases of its Kirkland Signature motor oil.

And there is little sign of a quick way out.

A key Saudi pipeline has been shut down following an attack, while an Iranian-backed group has tightened its grip on another major energy chokepoint as negotiations to end the war continue to stall.

Trump has repeatedly suggested the conflict will end soon.

But former Pentagon chief Leon Panetta warned this month that the war could drag on for at least another six months, raising the prospect of prolonged pressure on energy prices.

Inside the White House, the mood is reportedly grim.

“The mood in the White House is ‘frustration they can’t get this resolved,’” Stephen Moore, a former Trump economic adviser, told Politico.

Read the full article on The Daily Beast ›

5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on www.thedailybeast.com — the content belongs to The Daily Beast.

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