Higher prices for fuel, groceries, and insurance along with higher taxes-- Brought to you by the war with Iran

 



Trump’s war with Iran has reimbursed his oil company executives for their campaign contributions as he had promised he would. The war has decreased the world-wide supply of oil that normally moves through the Strait of Hormuz and has dramatically increased the price of oil. This is Trump's gift to his oligarchs.

With the increase in oil prices, the Texas “Oil Barons” immediately re-opened old wells that were no longer profitable and also began drilling new wells in old unproductive areas in the Permian Basin in Texas. This oil does not reduce the cost of gasoline and diesel in the United States because it is being sold worldwide at the current higher price. 

To add insult to injury, the oil companies are releasing massive amounts of pollutants into the atmosphere with these wells. Old wells and well fields in the Permian basin contain larger amounts of natural gas than they did when they were first pumped, a feature that is well known by the oil industry. The natural gas from these old fields could be sold, if it could be transported to the market.

Unfortunately, the present pipeline capacity does not exist to transport the natural gas, and the oil companies are either directly venting the natural gas illegally into the atmosphere or flaring it. Flaring is a very incomplete and inefficient burning of the gas at a vent pipe. Natural gas, of which methane is a major component, is one of the most powerful greenhouse gases. It is 28 times stronger than carbon dioxide.  Natural gas flaring releases a mix of greenhouse gases, toxic air pollutants, and particulate matter (see note 1). Both processes are very polluting practices that are worsening the local air pollution of the surrounding communities as well as accelerating the heating of the atmosphere. Trump’s EPA is turning a blind eye to this.

The solution offered by the oil industry is to build another pipeline that will not be operable until 2030. Since a resolution to the war would bring the price of oil back down to the level that would make the old wells and well sites unprofitable, it is unlikely that they will ever get the funding for a new pipeline.

For the foreseeable future we can look forward to high prices at the pump; more storms; droughts and wildfires that will continue to increase the price of food and taxes. Higher local taxes will be needed to provide emergency services to the regions destroyed by these events.



(1) Natural gas flaring releases a mix of greenhouse gases, toxic air pollutants, and particulate matter. 
Major Pollutants Released
Carbon dioxide: The primary byproduct of burning natural gas. It traps heat in the atmosphere.
Methane: Released unburned or partially burned when flares operate inefficiently or blow out. It is a powerful greenhouse gas.
Black carbon (Soot): Tiny particles formed during incomplete combustion. It darkens clouds and snow, speeding up warming.
Volatile organic compounds (VOCs): Hazardous chemicals like Benzene, toluene, xylene, and hexane. They harm health and create smog.
Nitrogen oxides and Sulfur dioxide (SO2): Gases created by the high-heat combustion process. They irritate the lungs and cause acid rain.
Carbon monoxide (CO): A poisonous gas formed when the gas does not burn completely.
Polycyclic aromatic hydrocarbons (PAHs): Toxic compounds, including naphthalene, linked to cancer risks.
Formaldehyde and Acetaldehyde: Toxic organic pollutants created during the burning process

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