Donald Trump has reportedly scrambled energy experts to find an alternative source of energy following the strikes on Iran.
While some experts believe a hold-up in the Strait of Hormuz supply line will be temporary, other insiders are concerned there could be longer-term consequences at play. Nobel Prize winner Paul Krugman suggested the route, which has been used by the US and other Western nations as a supply line through the Persian Gulf, could be cut off for longer than the few days industry experts were predicting.
Ben Lefebvre, writing in Politico, noted two energy industry insiders had been asked by the president's team to find a solution - and fast.
Trump's chief of staff, Susie Wiles, reportedly asked advisers to bring the president ideas on how to tackle the rising oil price and the subsequent effect this will have on gasoline prices.
One insider said the administration had been "looking under every rock for ideas on improving energy prices, especially gasoline prices" for a solution. The unnamed executive went on to say that current energy heads of staff are being "screamed at to find some good news" on the situation.
"Folks are scrambling for announcements and messaging to counter the narrative," they added.
White House Press Secretary Karoline Leavitt said, "I think it speaks to why this action was so necessary that ultimately the energy industry is going to benefit from the president’s actions with respect to Iran, because Iran will no longer be controlling the Strait of Hormuz and restricting the free flow of energy."
Insiders also confirmed a handful of ideas had been pitched to the president or members of his team, but that none were considered viable at this time.
Lefebvre wrote, "Some of the ideas the administration is considering include a temporary holiday on the gasoline tax, people familiar with the discussions said. But that might not bring immediate relief since it would require action from Congress. And there’s no guarantee oil refiners and gas stations would pass the savings along to drivers.
"Some administration officials have also floated using the U.S. military to defend energy infrastructure in the Middle East. But that idea isn’t likely to win over Saudi Arabian officials, who are cool on it given the sensitivities around American boots on the kingdom’s soil."
