Costly Conflict

As the Iran War continues, energy prices and Uncle Sam’s defense budget are getting pricier. 

This week, Israel and Iran have traded strikes, with Israel hitting Iran’s largest natural gas field, and Iran retaliating by targeting a major natural gas site in Qatar. President Trump said the U.S. “knew nothing about” Israel’s strike (some Mid-East officials contest this) but would “massively blow up the entirety” of Iran’s gas field if Tehran strikes Qatar again. 

Crude oil* and liquified natural gas prices oozed upward in response; Washington is now considering new ways to stopper rising prices, including releasing more U.S. reserves and un-sanctioning ~140M barrels of Iranian oil. 

Meanwhile, the Pentagon is requesting $200B in additional war funding, saying “it takes money to kill bad guys.” Critics say the department’s big-ticket request is “asking for a long war.”

Verse to consider when the headlines are dominated by conflict… “He will settle disputes among many peoples and provide arbitration for strong nations that are far away. They will beat their swords into plows and their spears into pruning knives. Nation will not take up the sword against nation, and they will never again train for war.”
Micah 4:3 (CSB) (read full passage)

*If you’ve ever wondered, “What even is crude oil?,” you’re not alone. We’re doing a shallow dive into all things black gold, Texas tea crude oil tomorrow in TPO Explains. Stay tuned!

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