Fox Business Network – The Evening Edit Broadcast March 3, 2026
Morano Excerpt: “The U.S. under President Trump is producing more oil than Saudi Arabia and Russia combined. And we’re producing more natural gas than China, Iran, and Russia combined. There have been over 300 actions President Trump has taken to expand domestic energy, and we are literally energy-dominant with just slightly over a year in office.
The U.S. is better prepared now to weather a war than we obviously were when the Ukraine war started in 2022. That was during the height of the net-zero craze when Biden was president.
If we can keep this war shorter and contained, and the Strait of Hormuz open — as Trump is already talking about the US Navy escorting ships through the Strait of Hormuz, we are talking about a minimal impact on energy prices. But it’s all a question of intensity and length of the war.
But right now, we are better prepared to handle this than at any time in the last 50 years. We are able to handle it in terms of the energy impact from a war in the Middle East.”
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Analysis: Stocks, oil and natural gas know how to deal with regional war.
CNN Analysis: ‘The United States is producing more oil than any country in the history of the planet’ (link) – ‘The US oil boom has prevented bigger price increases’ – This week’s events prove that prices at US gas pumps are controlled not only by domestic wells in Texas, New Mexico and across the United States – but by traders looking at supply and demand around the planet and placing bets on what’s going to happen next. … Unless this war ends quickly, Americans will probably pay a lot more for gasoline, no matter how much is being produced at home. … “The emergence of the United States as an oil giant has definitely smoothed out geopolitical spikes,” said Robert Yawger, commodity specialist at Mizuho Securities. “It’s fair to assume prices for gasoline would have been elevated exponentially from where they are now.” … The fracking boom started in 2009, the first year growth after a decade of declining production. By 2018, output had increased enough to boost US production to first place globally, passing both Russia and Saudi Arabia. … By last year, production had increased 167% from 2008, according to federal data. That’s the biggest growth period in US oil industry since production surged in World War II following the Great Depression.
Global Turmoil Proves Urgency of Energy Independence–
