Why high oil prices may outlast the war in Iran

Global oil prices have surged after the U.S. war with Iran, and they may not fall anytime soon even if the conflict ends quickly. POLITICO’s Scott Waldman explains why high oil prices could persist long after the fighting stops, presenting a political problem for President Donald Trump and the Republican party as voters focus on affordability issues in the run-up to the midterms. Plus, the Justice Department has sued California for effectively imposing an electric vehicle mandate, and the Energy Department announced it is opening up $1.9 billion in funding to help upgrade the U.S. power grid. Scott Waldman is the White House reporter for POLITICO’s E&E News focused on climate change.  Stefan Todorovic is the video producer of POLITICO Energy. Nirmal Mulaikal is the co-host and executive producer of POLITICO Energy.  Matt Daily is the energy editor for POLITICO. Cyril Zaneski is executive editor of POLITICO’s E&E News. Debra Kahn is the editorial director for energy and environmental coverage at POLITICO. Our theme music is by Pran Bandi. Follow the show on Apple, Spotify, Youtube and Instagram. Follow POLITICO here:    ➤ X: https://x.com/politico/ ➤ Instagram:  / politico      ➤ Facebook:  / politico   For more reporting on energy and the environment, subscribe to Power Switch, our free evening newsletter: https://www.politico.com/power-switch And for even deeper coverage and analysis, read our Morning Energy newsletter by subscribing to POLITICO Pro: https://subscriber.politicopro.com/newsletter-archive/morning-energy