Vice President JD Vance has backed President Donald Trump‘s economic measures against Iran, touting them as an effective tool for reopening the Strait of Hormuz.
Oil Is Flowing Through the Strait Of Hormuz
On Thursday, the White House’s Rapid Response handle posted clips of Vance during an interview on The Clay and Buck Show.
Vance acknowledged the elevated oil prices during his appearance, but they had “come down substantially from their high point,” due to the U.S. military being able to “get a lot of oil and gas out of the Strait of Hormuz,” something which was also said by Trump’s Energy Secretary Chris Wright.
He then said that the waterway was a “leverage point” for Iran, while also adding that the amount of oil being transported through the area would need to increase. “If we can get enough oil and gas out to give Americans some ease at the pump,” while the Iranians are “punished for shooting at commercial ships,” would apply “a lot of economic pressure” on Tehran.
Vance said that the U.S. would “do everything that we can to make sure” that Iran is not able to shoot at commercial vessels. “I think we’ve been quite successful,” he said.
Economic Pressure Signals New Phase, Says JD Vance
During the same appearance, Vance also touted a “new phase” of the situation and that the U.S. had put pressure on Iran’s weapons manufacturing capabilities. Vance said that the “most effective” tool at the U.S.’s disposal was “economic pressure.”
Vance also called the situation “delicate” because the Iranian government could try to apply economic pressure on the U.S. too. “They’ve felt a lot more pressure than we have,” Vance said.
“We’re going to keep that going because we think that’s the best way to ultimately accomplish the final objective,” which was denuclearization. He also said that the U.S. wanted to ensure that Iran would also not build nuclear facilities.
Trump Releases Winter Blend Gas Early
The Environmental Protection Agency (EPA), on Thursday, issued an emergency fuel waiver to allow for an early shift to winter blends of gasoline, which would increase the supply of gas by hundreds of thousands of barrels per day, according to the agency and result in lower prices at the pump.
Meanwhile, diesel prices in the U.S. remained high as the diesel crack spread, which defines the refiners’ profit margins for refining crude oil into diesel, had earlier reached $102/bbl.
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