Oil industry executives have reportedly warned the Trump administration that energy prices are likely to spike even more as reserves hurtle closer to a danger point.
Gas prices have already risen sharply as a result of the blockade by both the U.S. and Iran on the trade route through which much of the world’s oil travels, the Strait of Hormuz.
‘I hope they are paying attention to inventories right now. You’re hitting tank bottom.’
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According to a Politico report, four executives confirmed that officials of the U.S. energy industry informed the administration that backup oil reserves are being depleted quickly.
“We’re at dangerously low levels already,” said an industry executive who requested anonymity. “We have shared those concerns at the highest levels of government about what’s coming in mid-to-late
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