All posts tagged: Exxon Mobil Corp

Trump says Cuba may face a ‘friendly takeover’ as fuel crisis deepens

Trump says Cuba may face a ‘friendly takeover’ as fuel crisis deepens

Published by Sam Flores

A pedicab drives past a traffic light that is out due to a power cut in Havana on March 4, 2026. Yamil Lage | Afp | Getty Images U.S. President Donald Trump renewed his threat of a “friendly takeover” of Cuba, saying the communist-run Caribbean island is in “deep trouble.” His latest comments come less than a week after he suggested that his administration would turn its sights on Havana after U.S. military operations in Iran ended. The Trump administration has sought to ratchet up the pressure on Cuba since the Jan. 3 military operation to depose Venezuelan President Nicolás Maduro, a long-time ally of Cuba’s government. The U.S. has effectively cut Havana off from Venezuelan oil, called its government “an unusual and extraordinary threat,” and pledged to impose tariffs on any country that supplies it with oil. Speaking at a news conference in Doral, Florida, Trump said on Monday that Secretary of State Marco Rubio was dealing with Cuba’s leadership as the country grapples with a worsening economic crisis. “It may be a friendly …

Trump says Iran war will end ‘very soon’

Trump says Iran war will end ‘very soon’

Published by Sam Flores

President Donald Trump at a press conference on Monday said the war against Iran will end “very soon,” and also said that oil prices will drop. Trump’s rosy prediction came after a weekend that saw the price of oil skyrocket to above $100 per barrel, roiling global financial markets. “We’re achieving major strides toward completing our military objective,” Trump said nine days after launching the war on Iran with Israel on Feb. 28. Trump, who with his deputies has offered shifting explanations of what the war’s objective is, did not on Monday detail his end game, instead touting military successes. “We’ve wiped every single force in Iran out, very completely,” the president said at his Trump National Doral club near Miami, where he touted the destruction of more than 50 Iranian naval ships, and decimation of its air force and anti-aircraft defenses. “They have no leadership. It’s all been blown up.” Asked if the war would end this week, Trump said, “No,” but added, “Very soon.” He proceeded to threaten further military action if he …

Top permitting-reform senators meeting as talks thaw: API chief

Top permitting-reform senators meeting as talks thaw: API chief

Published by Sam Flores

U.S. Sen. Shelley Moore Capito (R-WV) speaks to the media following the weekly policy luncheons at the U.S. Capitol on June 21, 2023 in Washington, DC. Kevin Dietsch | Getty Images Senate Environment and Public Works Committee Chair Shelley Moore Capito and ranking Democrat Sheldon Whitehouse are meeting to discuss reforming the federal energy permitting process, American Petroleum Institute president Mike Sommers told CNBC. “We have both the Republican in the United States Senate … Shelley Moore Capito, and the Democrat Sheldon Whitehouse, who [are] responsible for permitting reform, finally meeting again to discuss how we get this done this year,” Sommers told CNBC. A person familiar with the negotiations, granted anonymity to discuss the details, said they “will be talking frequently this week about permitting since negotiations are back on,” but was unaware of any designated meeting time. The person noted committee staff are negotiating regularly. Capito, R-W.V., and Whitehouse, D-R.I., talking regularly comes after Democrats publicly announced a thaw in permitting talks. Democrats walked away from talks last year after the Trump administration ordered …

Iran warns oil tankers transiting Strait of Hormuz must be careful

Iran warns oil tankers transiting Strait of Hormuz must be careful

Published by Sam Flores

MarineTraffic map showing current ships traffic on Strait of Hormuz dislplayed on a laptop screen and MarineTraffic logo displayed on a phone screen are seen in this illustration photo taken in Krakow, Poland on March 5, 2026. Jakub Porzycki | Nurphoto | Getty Images Oil tankers passing through the Strait of Hormuz “must be very careful,” the spokesman for Iran’s Ministry of Foreign Affairs warned on Monday. The spokesman, Esmail Baghaei, also defended Iran’s attacks on Gulf states, telling CNBC’s Dan Murphy that targeting “military bases and assets” belonging to the United States in the region is “legitimate under international law.” The price of crude oil has sharply spiked past $100 a barrel as the Strait of Hormuz has been effectively closed. “As long as the situation is insecure, I think all tankers, all maritime navigation, must be very careful,” said Baghaei, who is also head of the Center for Public Diplomacy. He said that Iran will fight against the U.S. and Israel “as long as it takes,” and that his nation is preparing for …

Emmer predicts oil prices will drop after Iran war

Emmer predicts oil prices will drop after Iran war

Published by Sam Flores

House Majority Whip Tom Emmer urged calm on Monday as oil prices surged amid fallout from the Iran war, calling the conflict a “short-term experience” during an appearance on CNBC’s “Squawk Box.” “Yes, there are going to be some temporary effects on our domestic economy, but as soon as this is taken care of, those prices will tumble and people will recognize that this was a short-term cost to pay for a major long-term gain in terms of peace and security,” the Minnesota Republican said. Read more CNBC politics coverage Countries in the Middle East have cut oil production due to the U.S.-Israel war on Iran. On Monday morning, West Texas Intermediate crude futures were over $100 per barrel for the first time since Russia’s invasion of Ukraine in 2022. President Donald Trump also predicted in a Truth Social post on Sunday that the rise in oil prices would be temporary. “Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to …

Democrats demand reversal of Russia oil sales to India

Democrats demand reversal of Russia oil sales to India

Published by Sam Flores

U.S. Sen. Ruben Gallego (D–AZ) speaks during the “People’s State of the Union” event ahead of U.S. President Trump’s State of the Union address in Washington, D.C., U.S., Feb. 24, 2026. Elizabeth Frantz | Reuters Congressional Democrats are demanding that the Trump administration immediately reverse a sanctions waiver allowing Indian refiners to purchase Russian oil as the Iran war wreaks havoc on global energy markets. “Your recent decision to provide a 30-day waiver is dangerous, self-defeating, and indefensible,” Rep. Sam Liccardo, D-Calif., and Sen. Ruben Gallego, D-Ariz., wrote in a letter to Treasury Secretary Scott Bessent, which was shared exclusively with CNBC. “This waiver constitutes an inexplicable act of material benefit to the enemy.” The Treasury Department last week issued a temporary 30-day sanctions carveout to allow India to buy Russian oil, an effort to ease skyrocketing oil prices caused by the war and the traffic standstill at the Strait of Hormuz. The oil surge comes less than eight months before the November midterm elections that could flip the House of Representatives and the Senate …

Energy prices will fall when U.S. destroys Iran’s ability to attack tankers in Strait of Hormuz: Wright

Energy prices will fall when U.S. destroys Iran’s ability to attack tankers in Strait of Hormuz: Wright

Published by Sam Flores

U.S. Energy Secretary Chris Wright pumps gas at a gas station in Corpus Christi, Texas, U.S., February 27, 2026. Sheila Dang | Reuters Energy Secretary Chris Wright said oil and gas prices will begin to fall when the U.S. begins to knock out Iran’s ability to hinder tanker traffic through the Strait of Hormuz, as Americans weather spiking gas prices due to the war in Iran. “The plan is to get oil and natural gas and fertilizer and all the products from the Gulf flowing through the straits before too long,” Wright said on Fox News Sunday. “We’re massively attriting their ability to strike with missiles and drones, and that rate of attrition will increase in the coming days. So we’ll be cautious, we’ll be careful, but energy will flow soon.” President Donald Trump was elected to a second term in the White House in part by promising to lower gas prices and defeat high inflation. He has frequently touted lower gas prices ahead of the November midterm elections, which will determine control of Congress …

Iran war threatens to scramble the ‘affordability’ midterm

Iran war threatens to scramble the ‘affordability’ midterm

Published by Sam Flores

U.S. President Donald Trump points his finger as he arrives to deliver remarks on the U.S. economy and affordability at the Mount Airy Casino Resort in Mount Pocono, Pennsylvania, U.S. December 9, 2025. Jonathan Ernst | Reuters November’s midterm was always supposed to be about affordability. Then, the bombs began falling in Iran. The expanding U.S. war in the Middle East threatens to scramble the cost-of-living narrative that has so far defined the contest for control of Congress. The election, now less than eight months away, will determine whether President Donald Trump retains his iron grip on Washington or spends his last two years in office fending off Democratic congressional majorities. Both parties have sought to capitalize on kitchen-table issues, as Americans struggle to keep up with the rising costs of ordinary goods and services. The war in Iran now threatens to exacerbate those concerns — and Democrats are seizing on the opportunity to pillory Trump and Republicans for beginning a conflict that could make life even more expensive for ordinary Americans. “Because there was …

Trump demands unconditional surrender in war

Trump demands unconditional surrender in war

Published by Sam Flores

U.S. President Donald Trump takes questions from the media during a bilateral meeting with German Chancellor Friedrich Merz in the Oval Office of the White House on March 03, 2026 in Washington, DC. Win Mcnamee | Getty Images President Donald Trump said in a social media post on Friday that there would be no deal to end the U.S. war against Iran without an “UNCONDITIONAL SURRENDER” by Iran. The Dow Jones Industrial Average dropped more than 900 points, or nearly 2%, after Trump’s demand, which he wrote on Truth Social. The S&P 500 and Nasdaq Composite fell 1.6% each, and oil futures prices rose. Trump said that after a surrender and “the selection of a GREAT & ACCEPTABLE Leader(s), we, and many of our wonderful and very brave allies and partners, will work tirelessly to bring Iran back from the brink of destruction, making it economically bigger, better, and stronger than ever before.” “IRAN WILL HAVE A GREAT FUTURE. “MAKE IRAN GREAT AGAIN (MIGA!)” Trump wrote, echoing his “Make America Great” movement’s name. Trump’s demand came …

Tough jobs report puts Trump’s Iran war plans to the test

Tough jobs report puts Trump’s Iran war plans to the test

Published by Sam Flores

A difficult jobs report comes at a tough time for the White House. Gas prices are rising due to the war in Iran, while stock market turmoil is making savers and retirees antsy about the state of their 401(k)s. Data released Friday showing a loss of 92,000 jobs in February will put pressure on the Trump administration to reconsider military and homeland security policies that have complicated the nation’s economic outlook. But there may simply not be enough time to force through a substantial policy shift that could improve the economic outlook before the November midterms.  The state of the economy is mixed. The unemployment rate rose to 4.4% in February, reversing a decline from the month before. That rate is still low in historical terms. Meanwhile wages rose 3.8% since the year before, helping to reverse workers’ losses in purchasing power from high inflation under the Biden administration.  The rosy-tinted view of this report is that it shows an economy in rough stasis, with good prospects for improvement. Healthy businesses don’t need to expand …