What Trump’s war on Iran means for the US energy crunch
Airfind news item
By Justine Calma
Published on March 3, 2026.
The US government's war against Iran has raised concerns about whether it will increase energy costs for Americans, put pressure on power grids, and push companies to pump out more oil and gas in the US. Fuel prices surged after the US government launched strikes against Iran, raising concerns about potential increases in energy costs and power grids. However, this could not necessarily prevent Americans from higher energy prices. The conflict could potentially impact Donald Trump's plans to "drill, baby, drill" if it drags on, but could encourage increased oil production. The US already produces more oil than other countries dependent on fossil fuels from Iran and its neighbors, including Qatar, where attacks have been conducted by Iran. Despite efforts by President Trump to boost the fossil fuel industry since his presidency, forecasts for actual production have not changed little, with BNEF only predicting a 2.5 percent increase in US oil production between 2026 and 2030 due to a global oil supply shortage. Despite this, experts predict that if the conflict lasts longer than four to five weeks, there may be more serious discussion about increasing production as the market moves towards a more supply-constrained environment, experts suggest that this could change. However.
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