According to White House reporter Bo Erickson, writing alongside Padraic Halpin and Conor Humphries for Reuters, President Donald Trump suggested on Sept. 13, that the United States could stay in Iran and “keep the oil”, drawing a parallel to a U.S. push to take control of a fifth of Venezuela’s vast oil reserves.
Geopolitical Leverage and Petroleum Ambitions in Iran
While visiting Doonbeg, Ireland, for meetings and golf, Trump addressed ongoing conflict dynamics in the Middle East during the Irish Open. According to Reuters, the president stated that the United States might remain in Iran to “keep the oil”, much like the deal he announced regarding Venezuela in August. “We’ll ultimately get out, unless we decide to stay and keep the oil like Venezuela,” Trump said, as reported by Reuters, adding that U.S. revenue from Venezuela has “paid for the war many times.”
Global energy markets have faced pressure due to regional hostilities. According to Reuters reporting, oil traders anticipated prices to rise again on Monday following an attack on a Saudi oil pipeline. Despite this market volatility, Trump maintained that gasoline prices would “drop like a rock” once the conflict concludes. Furthermore, he reiterated expectations that the war would wrap up this year, potentially following the U.S. midterm elections scheduled for November.
Did You Know?
According to reporting by Reuters, oil traders expected prices to rise again on Monday after an attack on a Saudi oil pipeline.
Diplomatic Posturing Versus Market Realities
In his remarks from Ireland, Trump indicated that Tehran is “calling constantly” for peace talks, though he emphasized that he would only make the “right deal” and wouldn’t do one that was “no good”. Tehran has dismissed such assertions in the past, according to Reuters documentation.
The administration’s deal in Venezuela, announced in August, involved a U.S. push to take control of a fifth of Venezuela’s vast oil reserves.
Frequently Asked Questions
What did President Trump suggest regarding U.S. presence in Iran?
According to Reuters, Trump suggested the United States could stay in Iran and “keep the oil”, comparing the idea to a U.S. deal in Venezuela.
When does the administration expect the conflict to conclude?
Reuters reports that Trump expects the war to end within the year, potentially shortly after the November midterm elections in the United States.
How have energy markets responded to Middle Eastern turmoil?
According to Reuters, oil traders expected prices to rise again following an attack on a Saudi oil pipeline, though the administration maintains that gasoline prices will “drop like a rock” once hostilities conclude.
Explore More: Stay informed on global energy markets and international diplomacy by subscribing to the Reuters Power Up newsletter curated by columnist Ron Bousso. Share your thoughts on these geopolitical developments in the comments below.
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