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"Fossil Fuels as a Weapon of War": U.S.-Israeli War on Iran Exposes World's Dangerous Reliance on Oil
Oil prices surged past $100 a barrel this week as the U.S.-Israeli war against Iran threatens global energy supplies and the broader economy. Iranian officials say no oil will be allowed to leave the Middle East until the bombardment stops, raising fears of disruptions in the Strait of Hormuz, the waterway through which about 20% of the world’s oil and gas flows. This comes as Israel has struck oil depots in Tehran, blanketing the capital in smoke and toxic rain. “What we’re seeing is just one of the clearest depictions yet of the frailty of a global order that is grounded in fossil fuels. All sides in this war are using fossil fuels as a weapon of war,” says independent investigative journalist Antonia Juhasz, who reports on energy and climate.
Trump Contradicts His Own Defense Secretary on Iran War Timeline
Donald Trump doesn’t appear to be on the same page as his Defense Secretary Pete Hegseth when it comes to a timetable on the Iran war. On Monday evening during a press conference, a reporter asked Trump about his comments earlier Monday stating that the war is “very complete,” in contrast to Hegseth, who said, “This is only just the beginning” on CBS’s 60 Minutes on Sunday. “So which is it, and how long should Americans be—” the reporter continued before Trump cut in with his answer.“Well, I think you could say both. The beginning, it’s the beginning of building a new country. But they certainly, they have no navy, they have no air force. They have no anti-aircraft equipment. It’s all been blown up. They have no radar. They have no telecommunications, and they have no leadership. It’s all gone,” Trump responded. “So you know, you could look at that statement, we could, we could call it a tremendous success right now as we leave here, I could call it, or we could go further, and we’re going to go further.”Q: You said the war is 'very complete.' But your defense secretary says 'this is just the beginning.' So which is it?TRUMP: You could say both pic.twitter.com/4orXm5ZM4b— Aaron Rupar (@atrupar) March 9, 2026On the surface, it looks like Trump wants to downplay ongoing military action while others in the administration like Hegseth, and perhaps Israel, are being somewhat more realistic. The president seems to be trying to put a positive spin on further action, suggesting that the U.S. could also stabilize oil prices by moving on the Strait of Hormuz in the Persian Gulf.“I will not allow a terrorist regime to hold the world hostage and attempt to stop the globe’s oil supply,” Trump said Monday. “And if Iran does anything to do that, they’ll get hit at a much, much harder level.”He reiterated that threat in a Truth Social post, saying that if Iran stops the flow of oil in the strait, “they will be hit by the United States of America TWENTY TIMES HARDER than they have been hit thus far.” Trump may be trying to keep international markets stable and the price of gasoline from spiking further, as the war continues to cause wild fluctuations.Ultimately, though, it’s not the words of Trump, Hegseth, or anyone else that will determine the economic impact of the war. It’s going to be what actually happens on the ground, and whether oil installations keep getting attacked from all sides of this reckless war.
"The Gulf Fears Whoever Wins This War": U.S.-Israeli War on Iran Could Destabilize Entire Region
We speak with Kareem Shaheen, Middle East editor at New Lines Magazine, about the regional response to the U.S.-Israeli war against Iran. He says the Gulf countries are in a no-win situation, stuck between a belligerent Israel that has no qualms about using violence to achieve its strategic aims and a desperate Iran lashing out against U.S. allies in the region as it tries to survive. He says that no matter which side prevails, Gulf states have realized how vulnerable they are despite U.S. security guarantees. “In either scenario, I don’t think that the Gulf states will be happy with the outcome,” he says. Shaheen’s recent article is “The Gulf Fears Whoever Wins This War.”
Gulf airlines grapple with long-term cost of war
Even when peace is restored, super-connectors like Emirates and Qatar Airways will find it harder to persuade passengers to transit via their hubs.
Chinese exports surge despite US tariffs
Chinese exports surged 22% in the first two months of 2026 compared to the previous year.
Foreign workers in the Gulf bearing brunt of Iran strikes
At least nine civilians have been killed so far across the region, and only one was a Gulf citizen.
Aramco CEO warns of 'catastrophic consequences' for oil markets
The blockage of the Strait of Hormuz due to the Iran war is “by far the biggest crisis the region’s oil and gas industry has faced,” Amin Nasser said.
Ret. Col. Lawrence Wilkerson: Netanyahu Could Turn to Nuclear Bombs If Iran War Escalates
As President Trump gives conflicting statements about the length and objectives of the war he launched with Israel against Iran, fears are growing that the conflict could continue to expand throughout the region and beyond. Lawrence Wilkerson, retired U.S. Army colonel and former chief of staff to Secretary of State Colin Powell, says the U.S. and Israel are committing wanton “war crimes” in Iran. “We have bombed civilians relentlessly. We have bombed a school. We have bombed a hospital,” says Wilkerson, who also suggests Western media outlets are downplaying the extent of the damage in Israel and how successful Iran has been in defending itself. “This is a war with long legs. Trump has completely misinterpreted it,” says Wilkerson. “The only one who’s interpreted it correctly is Bibi Netanyahu, and I think he’s ready to use a nuclear weapon, should it become as bad as it looks like it might right now, because Iran has not even began to shoot its most sophisticated missiles.”