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Just dropped · Trial Balloon · Ep. 193

The Magnificent Seven

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Trial Balloon · Ep. 193: The Magnificent Seven

White House Panicking About Gas Prices

March 5, 2026 · 6:35 am ET · Leave a Comment

“President Donald Trump’s chief of staff, Susie Wiles, is telling his advisers to bring ideas to the Oval Office to lower gasoline prices in the wake of the U.S. attack on Iran,” Politico reports.

“The attack and Iran’s subsequent targeting of the Persian Gulf’s energy sector has sent crude oil up more than $10 a barrel, lifting gasoline prices to their highest levels since Trump took office last year.”

Playbook: “Wiles knows a crisis when she sees one. Ideas under discussion in the White House include a temporary holiday on the gasoline tax — although that would require action from Congress, and there’s no guarantee oil refiners and gas stations would pass savings along. Some administration officials also floated using the U.S. military to defend energy infrastructure in the Middle East.”

Energy

Doug Burgum Heads to Venezuela

March 4, 2026 · 2:14 pm ET · Leave a Comment

Interior Secretary Doug Burgum is traveling to Venezuela today, with plans to meet with acting President Delcy Rodríguez and announce an oil agreement, Bloomberg reports.

Energy, Foreign Affairs

U.S. Will Escort Oil Tankers Through Strait of Hormuz

March 3, 2026 · 3:50 pm ET · Leave a Comment

“President Donald Trump said the US will provide insurance guarantees and naval escorts to ensure safe passage for oil tankers and other vessels through the Strait of Hormuz, aiming to head off a potential energy crisis caused by the war with Iran,” Bloomberg reports.

Energy

Republicans Dismiss Energy Cost Concerns

March 3, 2026 · 11:55 am ET · Leave a Comment

“When the U.S. and Israel launched a wave of strikes on Iran over the weekend, some Democrats warned about the impact on energy costs. Now that those predictions have come to pass with an uptick in global prices for natural gas and crude oil, Democrats are pouncing — and Republicans are pushing back,” Politico reports.

“Senate Majority Leader John Thune (R-S.D.) started to set the tone for the GOP’s messaging Monday afternoon, saying he expected prices to return to prewar levels soon.”

Said Thune: “I think that there will be, hopefully, a cessation of this in the not-too-distant future, at which time my assumption is that that’ll stabilize a bit. Anything that happens in the Middle East seems to set off an increase in oil prices.”

Energy

MAGA Suddenly Loves Solar Power

March 2, 2026 · 2:55 pm ET · Leave a Comment

Washington Post: “These full-throated endorsements of a renewable energy source that has been much maligned by Trump and his advisers represents a departure from what had been a pillar of the MAGA energy agenda.”

“It reflects a realization taking hold more broadly among Republicans that solar power — long embraced by liberals — is increasingly indispensable to America’s bid to dominate AI, close a yawning ‘electron gap’ with China and contain runaway residential electricity costs.”

Energy

Iran Strikes Risk a Trump Priority: Low Gas Prices

March 2, 2026 · 6:35 am ET · Leave a Comment

“President Trump took the stage Friday against a backdrop of crude storage tanks at the Port of Corpus Christi in Texas and touted low fuel prices to a small crowd of supporters,” the Wall Street Journal reports.

Said Trump: “Slashing energy costs is among the most important actions we can take to bring down prices for American consumers.”

“Just a few hours later, the U.S. and Israel launched overnight strikes against Iran that risk sparking a wide conflict in a region that churns out about one-third of global crude—potentially snarling Trump’s stated goal to make life more affordable for U.S. consumers.”

Energy

Oil Prices Surge, Stock Futures Fall

March 2, 2026 · 6:12 am ET · Leave a Comment

“Oil prices were sharply higher and U.S. stock futures pointed to sizable losses on Wall Street as investors brace for the economic fallout of an extended regional war,” the Wall Street Journal reports.

Energy, Financial Markets

Oil Prices Spike Higher

March 1, 2026 · 1:48 pm ET · Leave a Comment

“Brent crude jumped 10% to about $80 a barrel over the counter on Sunday, oil traders said, while analysts predicted that prices could climb as high as $100 after U.S. and Israeli strikes on Iran plunged the Middle East into a new war,” Reuters reports.

Energy

Iran Gives Democrats New Opening on Energy Prices

March 1, 2026 · 7:08 am ET · Leave a Comment

“Democrats on Saturday seized on President Donald Trump’s decision to attack Iran as a new front in their energy affordability campaign,” Politico reports.

“Crude prices had already begun climbing on Friday in anticipation of military action in Iran, a major oil producer that also sits at the Strait of Hormuz, a key chokepoint for fossil fuel shipments.”

Energy

Democrats Hold Edge in Energy Cost Battle

February 10, 2026 · 10:55 am ET · Leave a Comment

Slightly more Americans think Democrats are the party most committed to reducing energy prices, a new Politico poll has found — yet another sign of potential trouble for President Trump and the GOP on the issue of affordability.

Energy

Trump’s Oil Grab in Venezuela Shatters a Taboo

February 9, 2026 · 6:40 am ET · Leave a Comment

New York Times: “American presidents have long been accused of plotting to control foreign oil. But while the United States has built relationships and even intervened abroad for oil, it has never simply seized control of another country’s oil reserves.”

Energy

Trump Pollsters Finds MAGA Likes Solar Energy

February 4, 2026 · 8:52 am ET · Leave a Comment

“A majority of Trump-coalition voters back solar power, especially if the panels are made in the U.S. and without Chinese materials,” Axios reports.

“Trump officials are moving against renewables on several fronts, including Interior Department permitting restrictions and the GOP budget law hastening the end of project subsidies.”

“But the poll commissioned by U.S. manufacturer First Solar suggests that a big swath of his coalition is partial to the tech.”

Energy

U.S. Shuts Off China From Venezuelan Oil

January 18, 2026 · 7:12 am ET · Leave a Comment

Wall Street Journal: “Ultimately, the slowdown in Venezuelan oil flows threatens China’s status as the world’s most prolific oil buyer. The country has shopped for heavily discounted crude from places like Russia, Iran and Venezuela, but as its options become more limited, it risks slowing down its buying as the global oil market anticipates a supply glut.”

Energy, Foreign Affairs

Trump Tries to Tame Electricity Prices in the Northeast

January 16, 2026 · 1:33 pm ET · Leave a Comment

“President Donald Trump mounted a dramatic intervention into the nation’s largest power market on Friday, aiming to quell political headaches over rising electricity prices fueled by new data centers across a clutch of swing states,” Politico reports.

“The unprecedented move by the White House is an attempt to ensure one of the brightest spots in the economy — the surge in construction of data centers devoted to artificial intelligence — isn’t hamstrung by one of the biggest drags — the rising cost of energy.”

Energy

U.S. Forces Seize Sixth Oil Tanker Near Venezuela

January 15, 2026 · 1:18 pm ET · Leave a Comment

“U.S. forces seized a sixth oil tanker on Thursday morning,” the Wall Street Journal reports.

Energy

Trump ‘Inclined’ to Keep Exxon Out of Venezuela

January 12, 2026 · 6:26 am ET · Leave a Comment

“President Trump said he might block Exxon Mobil from drilling in Venezuela after the company’s top executive publicly acknowledged the barriers involved in doing business in the country,” the Wall Street Journal reports.

Said Trump: “I’ll probably be inclined to keep Exxon out.”

“During a meeting with oil-company executives at the White House on Friday, Exxon Chief Executive Darren Woods said that Venezuela is currently ‘uninvestable’ without significant changes to the country’s commercial frameworks, legal system and hydrocarbon laws.”

Energy, Foreign Affairs

Trump Declares Emergency to Shield Venezuela Oil Cash

January 11, 2026 · 11:50 am ET · Leave a Comment

“President Trump declared a national emergency to shield Venezuelan oil revenue held by the U.S. government from seizure by private creditors, framing it as critical to U.S. national security and regional stability,” Axios reports.

“Control of Venezuelan oil — some $2.5 billion worth — is now a cornerstone of the White House’s strategy in the Western Hemisphere and an opening for U.S. companies in the wake of Nicolás Maduro’s capture.”

Energy, Foreign Affairs

Trump’s Oil Grab Is a Big Problem for the OPEC Cartel

January 11, 2026 · 6:25 am ET · Leave a Comment

“OPEC members struggling to preserve their market share amid a sinking price for oil now have an unexpected new variable to contend with: President Trump’s move to dominate Venezuela’s oil supply and push the market in a direction that would benefit American consumers,” the Wall Street Journal reports.

Energy

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Taegan Goddard

Taegan Goddard

Taegan Goddard is the founder of Political Wire -- which for more than two decades has been one of the nation's most influential political news sites.

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