Trump Team Vows New Energy Fixes, But Oil Tankers Still Playing Dodgeball
KEY POINTS
- •Marco Rubio announced Tuesday that the Energy and Treasury Departments will unveil new efforts to address rising energy prices.
- •Oil prices climbed over $10 per barrel last week, pushing Brent crude to around $83 and U.S. gasoline above $3.11 per gallon.
- •Regional tensions escalated with fires at fuel tanks in Oman’s Duqm port and the UAE’s Fujairah, contributing to global price spikes.
In a plot twist only 2026 can deliver, crude oil prices are gaslighting everyone at $83 a barrel, up a spicy $10 since last week, thanks to a Middle East saga starring Iran, Oman, and the UAE's Fujairah—where fuel tanks went full bonfire mode Tuesday. Secretary of State Marco Rubio, speaking from the Capitol like a reality TV cliffhanger, teased a mystery plan from Energy and Treasury to 'mitigate' prices, while Bloomberg confirms no one’s cracking open the Strategic Petroleum Reserve yet (cause apparently we’re saving the fancy stash for a bigger party). Analysts wink ominously about possible coordinated emergency releases, and one oil analyst tweeted that Trump’s toolkit might include jaw-dropping feats like a gas tax holiday or even easing rules on Russia—because why not try every plot twist in the geopolitical drama? Meanwhile, gas at $3.11 a gallon means Americans are basically paying extra for tension and a really smoky skyline.
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(1 of 3)When oil prices rise, politicians promise mysterious fixes while actual tankers just catch fire and dodge strategic reserves like it’s dodgeball camp.
Nothing says energy security like burning fuel tanks in Oman and vague promises from officials with no actual plans to open the SPR.
The Iran conflict sends oil prices hiking and tankers running scared, while Trump’s team brainstorms ideas at procurement headquarters aka Twitter.
Source: Axios | Published: 3/3/2026 | Author: Ben Geman
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