Energy
Trump Planned for Big Oil’s Global Dominance. Then He Went to War With Iran
The conflict carries heightened risk for energy companies as executives gather for the CERAWeek conference in Houston.
Smoke over destroyed vehicles following an overnight airstrike on the Shahran oil refinery in northwestern Tehran on March 8.
Source: AFP/Getty Images
From capturing Venezuela’s president to attacking Europe’s methane rules, President Donald Trump had created a slipstream for his oil-industry backers to expand production of fossil fuels and boost profits.
But his war against Iran, now entering its fourth week, is threatening to derail some of their longer-term plans, even as they benefit from the recent surge in crude and natural gas prices.