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TEHRAN — March 29, 2026 : Iranian President Masoud Pezeshkian has cautioned senior leadership of the Islamic Revolutionary Guard Corps (IRGC) that Iran’s economy could face total collapse within three to four weeks if a regional ceasefire is not achieved, according to informed sources cited by Iran International. The warning reflects growing internal divisions between Iran’s civilian administration and military leadership as the ongoing conflict enters its fifth week, intensifying both economic strain and governance disputes. Internal Tensions Over War Strategy The reported disagreement centers on the direction and management of military operations. President Pezeshkian is said to have directly...

President Donald Trump oversaw record levels of domestic energy production in 2025, including close to a billion barrels of offshore oil, according to the Department of the Interior.Last year saw a record of 714 million barrels of offshore oil produced, according to a press release from the Interior Department. Interior Secretary Doug Burgum underscored that the United States is tapping into its true energy potential.“President Trump has made it clear that America should fully develop its abundant energy resources in a way that strengthens our economy and benefits American families,” Burgum said in a statement.“By providing regulatory certainty, streamlining processes...

Trump’s former national security advisor has slammed European leaders’ inaction on the war in Iran as a “mistake” that invites the US president to halt support for Ukraine against Russia’s full-scale invasion. Europe’s stance on the Iran war risks US President Donald Trump walking away from the conflict in Ukraine, his former national security advisor, John Bolton, has said, criticising the EU’s reaction to the situation in the Middle East. In an interview with Euronews, Bolton, who also previously served as the US’s ambassador to the UN, branded the Iran conflict as “Europe’s war.” “Europe is just as much, if...

Two weeks into Operation Epic Fury, the dominant narrative has settled into a comfortable groove: The United States and Israel stumbled into a war without a plan. Iran is retaliating across the region. Oil prices are surging, and the world is facing another Middle Eastern quagmire. US senators have called it a blunder. Cable news has tallied the crises. Commentators have warned of a long war. The chorus is loud and, in some respects, understandable. War is ugly, and this one has imposed real costs on millions of people across the Middle East, including the city I live in. But...

As we reported Friday, President Donald Trump issued an executive order authorizing the Energy Department to invoke the Defense Production Act, a 1950s Cold War-era law, to force the restart of a dormant offshore oil operation along the California coast.Oil prices have been volatile as the Iran conflict continues, and the Islamic Republic threatens the crucial Strait of Hormuz, the Middle Eastern waterway through which over 20 percent of the world's oil flows. According to the Santa Barbara News-Press, that oil could start flowing immediately:A federal order Friday directed Sable Offshore Corporation to restart its pipelines to transport oil from...

Oil pumping operations are expected to begin imminently off the coast of California after President Trump issued an executive order Friday to resume oil drilling operations near Santa Barbara, The Post has learned. Officials for Sable Offshore Corp. informed local fire officials of their intent to “resume pumping operations within 24 hours.” The notification is a standard protocol for industrial activities involving hazardous materials pipelines. “This coordination allows the department to maintain readiness for potential emergency response, including resource staging, personnel alerting, and collaboration with other agencies, in the event of any incident such as a leak, spill, or fire,”...

President Trump said Thursday there is an upside to rising oil prices as a result of the war against Iran — the U.S. will make money as a major producer. Mr. Trump, posting on Truth Social, was responding to oil prices that flirted with $100 per barrel as Tehran clamped down on tanker traffic through the Strait of Hormuz, where about 20% of the world’s oil supply transits. “The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money,” Mr. Trump posted. Mr. Trump’s post on...

You might feel like you're seeing a lot of stories about strategic oil reserves on Wednesday. That’s because the U.S.-Israel conflict with Iran has caused volatility on the market, and the International Energy Agency (IEA), a Paris‑based intergovernmental organization that counts over 30 countries among its members, is releasing 400 million barrels to tackle the problem. Senate Minority Chuck Schumer (D-NY) meanwhile has been “demanding” that we tap into our reserves (why does a minority leader get to “demand” anything?), and Sen. Tom Cotton (R-AR), is, as RedState’s Becca Lower wrote, “asking the Energy Department (DoE) to look into what...

Maintenance problems affecting the Strategic Petroleum Reserve are in the spotlight after oil releases under former President Joe Biden. President Donald Trump pledged to replenish the nation’s Strategic Petroleum Reserve after the Biden administration sold nearly 200 million barrels of its stock — but that won’t be as simple as buying more oil. Energy Secretary Chris Wright told the House Energy and Commerce Subcommittee on Energy this week that SPR drawdowns under former President Joe Biden resulted in structural damage to facilities. More than $100 million of repairs are needed to bring the storage facilities back to full capacity, Wright...

"The USA Strategic Oil reserve is an imporatant safeguard to buffer the effects of any event that could cause problems to the general supply and price of the main products such as diesel or gasoline. So, how's it looking?" My latest blog analyzing data to see how long would it really take to refill the Strategic Oil Reserve.

About two years ago, Sonar21 released an article detailing how the Biden Administration tapped the Strategic Petroleum Reserve (SPR) to reduce oil prices and bolster the faltering economy, a move aimed at gaining political advantage during the 2022 midterm elections. Biden released approximately 260 million barrels rapidly, potentially damaging the aging salt caverns through deformation and shrinkage. In 2000, the SPR office estimated that the facilities had a remaining life span of twenty-five years, assuming routine maintenance. Assuming refiling the SPR at three million barrels a month, it would take a staggering seven years to replace the 260 million barrels....

The Biden Administration announced Tuesday that it would release 42 million gallons of gasoline from the Northeast Gasoline Supply Reserve. The release, the Department of Energy explained, is “strategically timed and structured to maximize its impact on gas prices.” This will, according to the DOE, help lower prices at the pump during the summer months when prices tend to go up along with demand. The Northeast Gasoline Supply Reserve was created in 2012 following Superstorm Sandy, which damaged two refineries and shut down 40 terminals in New York Harbor. Some New York gas stations went as long as 30 days...

Bidenomics is really about insane money printing after Covid and the installation of Biden as President. Biden and The Federal Reserve are both pushin’ too hard. Biden to fundamentally change the US and The Fed trying to cope with the inflation reaction. With Covid and then Biden’s selection as President, Federal outlays exploded (blue line) and remain elevated under Biden. To help finance the (outrageous) spending The Federal Reserve massively increased the M2 Money supply (green line). Now, The Fed has withdrawn some of the excessive monetary stimulus, but there is a staggering amount monetary stimulus still swimming around the...

President Joe Biden’s administration dropped its plan to buy oil to refill the Strategic Petroleum Reserve (SPR) due to rising oil prices. The oil would have gone to Louisiana’s Bayou Choctaw SPR site in August and September. The administration canceled the purchase despite depleting the emergency supply by 43%, the lowest since the 1980s. U.S. Won’t Buy Oil to Refill Strategic Petroleum Reserve The administration canceled the purchase despite depleting the emergency supply by 43%, the lowest since the 1980s. Posted by Mary Chastain Wednesday, April 3, 2024 at 05:00pm 18 Comments FacebookTwitterTelegramLinkedInWhatsAppRedditEmail President Joe Biden’s administration dropped its plan...

The Biden Regime canceled its plan to refill the Strategic Petroleum Reserve because oil is “way too expensive.” Biden drained the U.S. Strategic Petroleum Reserve to its lowest level in 40 years. Now, the Biden administration is CANCELLING their plans to refill it because oil is "way too expensive." pic.twitter.com/NYqEZ2Aosa — RNC Research (@RNCResearch) April 3, 2024 This comes as gas prices are once again skyrocketing. Recall that Biden drained the SPR to its lowest level in 40 years. Biden sold the U.S. Strategic Petroleum Reserves (SPR) to Europe, India and China. Joe Biden depleted the SPR to help China....

Joe Biden’s America. The Strategic Petroleum Reserve is near historic lows after Biden drained the SPR down to just 17 days of supply as war broke out in the Middle East. And Biden has no plans to refill it anytime soon.

Global benchmark Brent crude futures soared to $87.20 per barrel on Monday morning, while West Texas Intermediate futures in the United States landed on $85.7 per barrel, having initially passed $86. This represents an increase in oil prices of over 3.1 percent globally and over 3.5 percent domestically, as the markets react to Israel declaring war over the weekend in response to an armed incursion from Gaza. The United States is particularly exposed to the price surge. President Joe Biden drained much of the nation’s Strategic Petroleum Reserve last year in an effort to hold down the price of gas,...

The rising gas prices are causing a familiar concern for Americans as they approach the $4.00 mark once again, reminiscent of the situation in August 2022. However, a key difference is that back in August 2022, the US Strategic Petroleum Reserves (SPR) had 100 million more barrels of oil in its arsenal, providing a cushion against price spikes. Similarly, in March 2022, gas prices had breached the $4.00 threshold, but back then, the SPR boasted an even more substantial 220 million additional barrels of oil, offering a sense of stability. Fast forward to the present, and we’re grappling with a...

Another week under Biden, another economic disaster. This time, its the mortgage market with mortgage demand (applications) down 6% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 29, 2023. The Market Composite Index, a measure of mortgage loan application volume, decreased 6.0 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 6 percent compared with the previous week. The Refinance Index decreased 7 percent from the previous week and was 11 percent lower than the same week one...

Its hard to watch Biden and The Progressive Greens destroy the enegy security of this great nation. Biden is draining the Strategic Petroleum Reserve, probably in a misguided attempt at ensuring we never go back to abundent petroleum again. Crude oil inventories are now the lowest since 1985. Authored by Simon White, Bloomberg macro strategist, Household spending has kept the US economy afloat, but as growth slows a continued rise in oil and gas prices is poised to push personal consumption expenditure (PCE) lower and thus trigger a near-term recession – with stocks and bonds unpriced for such an outcome....