Trump’s Iran Attack Fuels Oil Price Spike, Energy Push
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- Trump launched a full‑scale attack on Iran over the weekend, initiating a new Middle‑East conflict.
- Energy analysts anticipate a double‑digit increase in U.S. gasoline prices two days into the war, adding to a 17% rise since January tied to Trump’s saber‑rattling.
- Trump eliminated the $7,500 electric‑vehicle tax credit on September 30 last year, prompting a steep slide in domestic EV sales by the end of 2025.
- Trump met with Nevada Governor Joe Lombardo to discuss restarting utility‑scale solar projects in the state after a lobbying session aimed at attracting data centers.
- South Dakota regulators green‑lit the 87‑turbine, 300‑MW Phillip Wind Project, with construction slated to begin in June.
- A federal judge affirmed that a president can stop issuing new offshore wind leases but cannot interfere with existing ones, and later blocked Trump’s emergency stop‑work order on five Atlantic Coast wind farms, which a court overturned.
Why it matters: American drivers will pay more at the pump as the Iran war drives oil prices higher, while the renewable sector gains policy attention and project approvals; yet the removal of the $7,500 EV tax credit under Trump hurts electric‑vehicle sales, shifting advantage to traditional automakers.
