Trump’s bizarre pitch to Vegas voters: I might send gas prices up

Key Points:

• President Trump claimed at a Las Vegas rally that the U.S. economy is improving, citing efforts to reduce inflation and drug prices, while acknowledging that oil prices remain high due to Iran's control of the Strait of Hormuz.
• Experts like Dr. Ed Gresser and Dr. Robert Shapiro argue that Trump's conflict with Iran will keep oil prices elevated due to risks and damaged infrastructure, and that economic conditions were already weakening before the crisis.
• Gresser highlighted the geopolitical risks of Iran potentially controlling shipping through the Strait of Hormuz, which could destabilize regional exports and energy supply security for Asian countries.
• Shapiro noted that uncertainty from ongoing policies and conflict risks dampens investment and worsens economic deterioration, with no quick resolution expected to reverse these trends.
• The White House responded by emphasizing U.S. energy dominance and production capacity, arguing that America is less reliant on the Strait of Hormuz and that other countries are seeking to improve their energy security through partnerships with the U.S.