US Oil Spending Sinks While Producers Take Profits From Iran War but Cut US Production as Trump Administration Accuses Companies of Price Gouging – Jordan Conradson

 As a result of the Iran conflict and U.S. actions in Panama and Venezuela, American control over global oil supplies has expanded significantly, while the power of Iran, Russia, and China has declined. Most major US oil companies are now scaling back capital spending and US production while reaping the rewards of higher global oil prices resulting from the war in Iran, despite continued pressure from the White House to lower prices and give back to the country. Chevron, ConocoPhillips, and other oil giant executives are taking windfall profits and “price-gouging” Americans while cutting capital expenditures across the US to… — Source: The Gateway Pundit – Read More