The Trump administration has started to panic about the spiking price of oil.
While senior Trump aides had anticipated some brief surge in oil prices in the first days of the war with Iran, the size and sustainability of the market reaction caught them off guard, people familiar with the internal discussions told CNN.
Now, as oil prices hover near $100 a barrel just over a week into the war and US gas prices are moving sharply higher, it’s prompted a belated rush to try to reassure investors and seek ways to tamp down the impact. But the administration is confronting the limits of its power — and the reality that Donald Trump’s decision to wage war abroad threatens to wipe out some of his key economic accomplishments at home.
80 Comments
MagicShel@lemmy.zip · 180 pts · 175d
Would that be devastating the economy though tariffs? Or devastating the economy through unemployment? Or devastating the economy through imprisoning our inexpensive labor force? Or devastating the economy through outright theft?
I think the word being sought was exacerbate.
That reads much more accurate.
WhatAmLemmy@lemmy.world · 16 pts · 175d
It's CNN; an Epstein-class owned propaganda operation. They are one of hundreds of domestic enemies Americans should do something about before their nazi party murders millions of people both at home and abroad.
driving_crooner@lemmy.eco.br · 118 pts · 175d
Are the economic accomplishments on the room with us?
stoy@lemmy.zip · 47 pts · 175d
Well give him SOME credit, no other president has managed to cause this much economic damage to the US in this little time.
xerxes@piefed.social · 1 pts · 174d
No they are in the room with him and his rich friends. The ones who profited off his crypto scams and insider trading.
sturmblast@lemmy.world · 59 pts · 175d
He has no economic accomplishments
foggy@lemmy.world · 17 pts · 175d
Now now, he made quite a pretty penny on that crypto rug pull.
sturmblast@lemmy.world · 2 pts · 175d
No one reads...
rozodru@piefed.world · 10 pts · 175d
I don't know, bankrupting casinos is quite the accomplishment.
sturmblast@lemmy.world · 1 pts · 175d
.... context
CharlesDarwin@lemmy.world · 8 pts · 175d
LOL, I know, right? I find it hilarious that the RWAs think that CNN is "liberal", LOL. Someone typed that up and expected people to take that sentence at face value.
Mulligrubs@lemmy.world · 7 pts · 175d
Sure he does!
The man pissed through his $400 million dollar inheritance in just a few years, say what you want, that's impressive!
raman_klogius@ani.social · 53 pts · 175d
vaultdweller013@sh.itjust.works · 13 pts · 175d
I know this is an edit but I could definitely see Scooby doo doing this as a skit at least once. Specifically the OG, a pup named Scooby doo, or Mystery Incorporated. Also shout out to the early aughts movies who did some similar gags.
orwellianlocksmith@lemmy.world · 10 pts · 175d
Wow, big Scooby Doo nerd over here.
StarryPhoenix97@lemmy.world · 51 pts · 175d
I recently blocked a childhood friend on Facebook over this. They shared one of those stupid Biden stickers with a $5 a gallon price Tag.
Their point was, of course, the democrats made it worse than Trump ever did. I don't know how this happened. How people got so turned around. Arguing with him seemed pointless. Pointing out that Biden didn't do that. Pointing out that it's going to get worse. Pointing out that democrats in general are just status quo bitches...
I just blocked him. I can't fix whatever shit has pickled peoples brains.
N0t_5ure@lemmy.world · 37 pts · 175d
We're living in the disinformation age, where people silo themselves in media, including news, that reinforces whatever they want to believe. Eventually their views will run into cold, hard reality, but even then some will continue to live in denial.
StarryPhoenix97@lemmy.world · 15 pts · 175d
Yep. I try not to do that. Discussion is good when done in good faith. It's too bad the disinformation age also has AI agents and censorship. Man. It's just wild. The censorship. We educated ourselves and now we have the next generation growing up in slop but not knowing their in slop. Or worse, knowing but having know way to escape it as all methods of escape are cut off. So many sides of digital enlightenment being attacked. I don't know if we'll escape it. Information has become entertainment. Activism is just performance.
People aren't mad enough.
I hope you're right though. I hope we find a way. Likely the US is fucked but that doesn't mean humanity is fucked. Action still has inpact. It's hard to remember that, but it does.
N0t_5ure@lemmy.world · 1 pts · 175d
Things tend to turn in cycles, and we are experiencing the end of a cycle similar to that which occurred in the late 1920s and led into WWII. Billionaire Ray Dalio put out a nice ELI5 type video a few years back summarizing his book "Principles for Dealing With the Changing World Order" that basically puts into the context of history what we are currently going through. I had read his book back in 2022, and things have significantly progressed precisely as anticipated in the 4 years since it came out. In my opinion, things will come to a head this year, probably in the fall. I believe that we are currently in the late stages of excess, similar to the late 1920s, and that we will have a "blow off top" in the stock market and the biggest financial crisis of all time, and I'm not the only one. Look at what has been happening to the price of gold, which is currently over $5K/oz and has been on the greatest bull run of all time, which has largely been driven by purchases from the world's central banks. This is the world shifting away from the dollar as the reserve currency, which will only accelerate as the dollar collapses. My greatest concern is that Trump will use the chaos that erupts to nakedly seize power and dispense with the ruse that he's a president and not a king.
FaceDeer@fedia.io · 8 pts · 175d
Ironically, sites like this very one we're on now seem tailor-made to enhance that effect.
Like what someone said? Upvote and respond with supportive comments. Don't like it? Downvote, denigrate, block, defederate. Eventually people sort themselves out into communities where they "belong" and stop seeing what other people are saying, and they start to think that everyone shares their views.
StarryPhoenix97@lemmy.world · 9 pts · 175d
I try not to lock myself into a community like that. I like data and fact supported by evidence. I tend to filter myself as needed. Federation has a tribalism problem but I haven't seen it as toxicity present in most of the main spaces. The fringe server like hexbear...sure. I keep my nose there too. They're funny. The smart phone and social media in general has wrecked our ability to self regulate in public digital spaces. And the algorithm broke the upvote system that used to help show a level of class solidarity between people in different backgrounds. I can't say how much was intentional and how much we slipped into, but we all need to make an effort to regulate ourselves.
Tribalism is the enemy of progress.
StarryPhoenix97@lemmy.world · 1 pts · 175d
FaceDeer@fedia.io · 4 pts · 175d
Even more ironically, my point is illustrated by my comment itself. It's already getting downvoted heavily.
Guess that's not an opinion that people want to see here, eh?
StarryPhoenix97@lemmy.world · 7 pts · 175d
Yeah, I'm tired and got snippy myself. It's late and I should be asleep. There's a thread-bare line between keeping a line of dialogue open and being suseptible to brainwashing. It's hard to self-regulate sometimes.
Sorry about that. The instinct to just bark at someone online is pavlovian. Trained into us by doom scrooling and positive reinforcement from having the behavior upvoted.
I wrote a paper on it actually. More people should try to be aware of how many ways they're getting happy chemicals from comments and upvotes.
I try to keep social media (in general) framed as a casino.
tigeruppercut@lemmy.zip · 5 pts · 175d
There are plenty of reasons to not want to engage with the "other side". Exposing yourself to different viewpoints in general? All well and good. Having a discussion with people who think a fascist bombing Iran means Biden is responsible for rising gas prices? What exactly does that add to my life? Until MAGA cultists can prove they understand basic reality their opinions are useless (at best) cult propaganda lies that should be shunned from public discourse.
Granted there aren't too many trumpets on the fediverse, but in light of the gas price comment OP of this thread I don't think lemmy shows the echo chamber you accuse it of.
FaceDeer@fedia.io · 0 pts · 175d
To be fair, the vote ratio on the comment I above that I said was being heavily downvoted has now recovered; it initially got hammered with nothing but downvotes but now it's at about a 2:1 upvote:downvote ratio.
The subjects that get "filtered" vary from community to community, but it's pretty easy to find non-political topics where it's clear that there's no desire to "expose yourself to different viewpoints in general" in most Fediverse communities. You can't just dismiss them all as being "well that particular viewpoint is just cultist propaganda" without that being exactly the thing I'm pointing out as a problem.
MrSulu@lemmy.ml · 5 pts · 175d
I'm with you. Village idiots with an audience become emboldened
OptimusPrimeDownfall@discuss.tchncs.de · 39 pts · 175d
They're figuring out that the president has both a lot less and a lot more power over oil prices than they ever claimed.
Drank their own kool-aid.
inclementimmigrant@lemmy.world · 38 pts · 175d
Name one there asshat journalist.
Also, keep in mind that a fat ego wounded animal and his psycho pack will be lashing out with this kind of news and respond with stuff like passing the SAVE act to save their own skins.
TheObviousSolution@lemmy.ca · 9 pts · 175d
The economic accomplishment of helping the Warner Bros Discovery buyout to change how CNN reports on him: https://edition.cnn.com/2025/12/10/media/trump-cnn-sold-paramount-warner-bros-netflix
Pacattack57@lemmy.world · 2 pts · 175d
Regardless of what you think about him, gas prices have been great the last few months. That was like the only thing that was going well for him.
Gas prices affect literally everything else so we can expect costs for groceries to spike as well pretty soon.
Tingle@lemmy.world · 5 pts · 175d
Who would have guessed that invading another country with oil would help american oil prices...
RememberTheApollo_@lemmy.world · 3 pts · 173d
The gas prices I was paying were almost exactly the same as I paid in October 2024. IOW I don’t see him doing any better than Biden.
laranis@lemmy.zip · 1 pts · 173d
ThE DoW. tHe dOw IS oVeR 50,000!
Machinist@lemmy.world · 36 pts · 175d
$4.99 for 100ea on Etsy, showing as a 'hot' item and bestseller. I doubt we'll see them in the quantities we saw the Biden stickers but it's pretty funny.
psycho_driver@lemmy.world · 14 pts · 175d
I'd buy some if they added "along with many, many girls aged 12-14"
CharlesDarwin@lemmy.world · 7 pts · 175d
Christ, I hope we see a lot more, given it'd actually be accurate in this case.
Spot@startrek.website · 2 pts · 175d
Ooo, I have a few left from the grocery hike, time to go dig 'em out.
ChunkMcHorkle@lemmy.world · 33 pts · 175d
Jesus fucking christ, name ONE. And by name one, I specifically mean a net positive that would actually be reversed by this new negative, instead of just adding to the colossal overdraft of negatives already accruing on all our accounts.
N0t_5ure@lemmy.world · 32 pts · 175d
In what world is it a surprise to see oil prices spiking when you launch an attack on an oil producer in the middle east? Iran has repeatedly threatened to shut down the Strait of Hormuz over the years, which would stop the flow of ~30% of the world's oil. It's one of the very few levers of power Iran has to pull, and anyone with an ounce of common sense knew they'd do it if attacked. Fortunately, we're in a midterm election year, so the catastrophe Trump has teed up will hopefully torpedo Republicans' grip on Congress.
blackbearjesus27@lemmy.world · 22 pts · 175d
Because an inherent distrust of experts leads to a reduction in expertise which leads to imbeciles being surprised their ideas don’t actually work in the real world.
themaninblack@lemmy.world · 4 pts · 175d
This is key to why dictatorships decline and fall. Dictators cast out naysayers and refuse to listen to evidence that contradicts them. So they are eventually surrounded by incompetents or manipulators.
But being surprised at increased oil prices after bombing Iran like a week ago?
Are his advisors that deep in their media and social echo chambers? Is this just a line fed to the press?
ebolapie@lemmy.world · 22 pts · 175d
They didn't see this coming?
mierdabird@lemmy.dbzer0.com · 30 pts · 175d
They didn't even bother to fill up the strategic oil reserve
Jaysyn@lemmy.world · 14 pts · 175d
If you're trying to wreck the dollar, this is what you want to happen.
FaceDeer@fedia.io · 5 pts · 175d
It was presumably planned to be a three-day special military operation. The people would rise up and support the invaders once the leaders were taken out in the initial decapitation strike.
rozodru@piefed.world · 1 pts · 175d
apparently Baron did, the rest? not so much.
ameancow@lemmy.world · 1 pts · 175d
Monstrosity@lemmy.today · 17 pts · 175d
"his key economic accomplishments at home" lol sure, CNN. Maybe you can list those out for us?
Soulphite@reddthat.com · 13 pts · 175d
Here's some advice...
STOP POINTLESS WARS ASSHOLES.
For a party that campaigned on no WARS, they sure have started lots of them in various ways over the past year. Fucking moron pedophiles.
Mulligrubs@lemmy.world · 3 pts · 175d
It's not pointless for Boeing, Northrup, Israel, and other "donors". They will make a KILLING
Soulphite@reddthat.com · 3 pts · 175d
Oh right, sorry. How could I forget about the poor military industrial complex. My bad! They gotta eat!
TrollTrollrolllol@lemmy.world · 1 pts · 175d
Hey don't let Congress of the hook there, it's the congressional military industrial complex, to quote Eisenhower.
luciferofastora@feddit.org · 1 pts · 175d
In our industrial era, infrastructure and trade are generally much more effective investments into prosperity than war.
But selfish greed is gonna do as selfish greed does...
Soulphite@reddthat.com · 2 pts · 175d
For sure. Wealth disparity keeps the control and power among the few.
altphoto@lemmy.today · 12 pts · 175d
Oh boy! My neighbor's with their big ass truck are going to get a heart attack:
brap@lemmy.world · 16 pts · 175d
While I can appreciate the shock of the sudden increase to you guys, it does make me chuckle that even the most expensive there is at a price so low compared to the UK that I can’t recall the last time it was even close to that.
tmyakal@infosec.pub · 12 pts · 175d
Yes, but it's because of subsidies. Your taxes pay for healthcare; our taxes pay for fuel. Which we also then pay for.
brap@lemmy.world · 9 pts · 175d
Yeah I think I’ll stick with being able to stay alive.
Damage@feddit.it · 7 pts · 175d
As another European, it doesn't make me chuckle, it makes me fucking furious. But not as furious as genocide and bombing little girls.
ameancow@lemmy.world · 2 pts · 175d
TrickDacy@lemmy.world · 9 pts · 175d
There is nothing plural about apostrophes.
blimthepixie@lemmy.dbzer0.com · 4 pts · 175d
Why are some Arcos capitalised and some not?
WindyRebel@lemmy.world · 3 pts · 175d
My best guess is it’s pulling in Google Business listings. A business, or SEO, either didn’t harmonize the naming schemes for all locations or there are duplicate listings with varied naming conventions that are still out there that get displayed.
altphoto@lemmy.today · 1 pts · 175d
You mean Arco's vs arco's vs ARCO's? I hope that's plurally correct. Auto correct.
balsoft@lemmy.ml · 1 pts · 175d
Google's data quality is shit. Even openstreetmap figured out how to (mostly) normalize names of chain establishments.
Mulligrubs@lemmy.world · 11 pts · 175d
He didn't have any economic accomplishments at home, so he doesn't have to worry about wiping said accomplishments out.
Minimum wage is seven bucks and change an hour; each of those "reasonable" Tomahawk missiles cost two million
so, no school lunches, times are tight
Triumph@fedia.io · 10 pts · 175d
They are not panicking. Higher oil prices mean they get more money.
This is all by design.
Hegar@fedia.io · 14 pts · 175d
The rich benefit in some way from almost everything that happens, that's how being an elite works.
But that doesn't mean that the regime intented to massively spike oil prices. They'll have so much more voter suppression to do now.
Yes, they're evil, but they're also frequently stupid. They fuck up a lot.
MutantTailThing@lemmy.world · 10 pts · 175d
Remember when they asked Ukraine to stop bombing Russian oil infrastructure and Ukraine told them to go suck a fat one.
nukeforyou@lemmy.zip · 10 pts · 175d
Didnt he raid Venezuela to steal their oil? If so he WANTS prices to go up to sell that stolen oil for more $$$
GreenBeanMachine@lemmy.world · 2 pts · 175d
Buffalox@lemmy.world · 1 pts · 175d
I wouldn't be surprised, also the rising oil prices help his friend Putin.
CharlesDarwin@lemmy.world · 9 pts · 175d
Just what did these nine dimensional chess players think was going to happen by doing Israel's bidding and attacking Iran?
SaveTheTuaHawk@lemmy.ca · 5 pts · 175d
you can bet Putin knew what would happen. Ca-chingski.
takeda@lemmy.dbzer0.com · 7 pts · 175d
He will lift sanctions on Russia.
Corporal_Punishment@feddit.uk · 6 pts · 175d
He already has done for India's benefit
crystalmerchant@lemmy.world · 7 pts · 175d
Well what the heck did ya think would happen dumdum
aarch0x40@piefed.social · 6 pts · 175d
I wonder which scandal they’ll be starting to distract from this one
Lemmyoutofhere@lemmy.ca · 5 pts · 175d
They are talking about attacking Cuba again.
psycho_driver@lemmy.world · 6 pts · 175d
Bomb Exxon, you dumb twats.
A_norny_mousse@piefed.zip · 5 pts · 175d
This Leopard Is Eating His Own Face
scaredoftrumpwinning@lemmy.world · 2 pts · 175d
Someone finally remembered the way through this president other than bribes is the stock market.
Mulligrubs@lemmy.world · 1 pts · 175d
It's not a "this President" problem, it's the norm. See Citizens United and Super PACs for further details.
It's not a bribe when it's a legal "donation"!
both candidates had a billion dollars "donated", and there's so much that we don't often get to see.
No healthy, functioning Republic would elect Trump. Twice. He's the natural result of decades of corruption (legal though, so it's not officially corruption, wink wink)