Donald Trump is not worried about the surge in oil prices caused by the war with Iran, noting that America is the largest producer. Therefore, when oil prices rise, the U.S. earns a substantial amount of money.
On Thursday, 12 Mar 2026 GMT+7, U.S. President Donald Trump sought to ease concerns over soaring oil prices and market volatility linked to the conflict with Iran, stating that the U.S. would benefit when energy prices increase.
"The U.S. is the world's largest oil producer by a wide margin over other countries. So when oil prices surge, we make huge amounts of money," Trump said in a post on Truth Social.
"But what I, as president, care about and prioritize much more is stopping the evil empire of Iran from possessing nuclear weapons and destroying the Middle East, as well as the world. I will never allow that to happen!" Trump declared.
Trump’s remarks came as the International Energy Agency (IEA) warned the world may face the "largest supply disruption in the history of the global oil market" amid escalating Iranian attacks on shipping routes.
Rising oil prices have begun to affect American farmers. Chris Abbott, CEO of Pivot Bio, said the U.S. agricultural sector relies on the Strait of Hormuz for importing significant production inputs, including about 20% of liquefied natural gas (LNG), roughly 30% of nitrogen urea fertilizer, and sulfur "in even greater proportions."
Abbott emphasized that at the conflict’s outset, many American farmers had not yet received necessary inputs because the planting season was still weeks away. "Before this conflict began, the U.S. had only purchased about half of its total fertilizer needs," he noted.
Now, with the planting season approaching, farmers nationwide are scrambling to secure supplies. Abbott said prices have surged significantly since the conflict started on 28 February.
"We have seen urea prices increase by as much as 50%," he explained, adding, "In northern regions, prices have nearly doubled."
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Source:cnn