March 5, 2026

Unleash Prosperity co-founder Stephen Moore says record U.S. oil and gas production will help counter Middle East turmoil and prevent a spike in gas prices in the wake of recent Iran strikes.

Few places on the planet matter more to the global economy than the Strait of Hormuz.

Record U.S. oil and gas production is poised to cushion the global market against potential price spikes amid escalating tensions in the Strait of Hormuz, a critical chokepoint for about 20 million barrels of oil and one-fifth of global liquefied natural gas daily. Recent U.S.-Israeli strikes and Iranian retaliatory attacks have disrupted shipments through this narrow passage, prompting concerns over energy security and forcing shippers to reconsider transit safety as the vital waterway risks grinding to a near halt, underscoring its pivotal role in global energy supply.

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