Defense Secretary Pete Hegseth insists “regime change has occurred” in Iran and said that the US is focused on pursuing a deal to end the war.
Defense Secretary Pete Hegseth insists “regime change has occurred” in Iran and said that the US is focused on pursuing a deal to end the war.
If so, petrol prices wouldn’t be the reason. Prices of around $10 per gallon are quite typical for the world’s top economies. While higher prices due to oil prices and due to taxes aren’t economically equivalent, higher petrol prices have numerous benefits to the economy and spur innovation in energy efficiency. The undertaxation of petrol ranks among the significant factors contributing to the stagnation of the US economy.
One has to include shortages of fertilizer, and the shortages of fuel that Asia faces now. As other experts point out, those shortages alone will result in demand collapses that will reach back to the US.
Some believe the US has already collapsed. We’re just experiencing the after shocks.