The Trump administration definitively ruled out restricting U.S. oil and gas exports despite mounting pressure from energy price spikes. "Oil and gas export restrictions are not under consideration," an administration official stated Thursday, dismissing rumors that had circulated in recent days about potential curbs on American energy shipments.
U.S. gasoline prices have surged nearly 90 cents per gallon since the current conflict began, according to AAA data. Meanwhile, dozens of refineries, oil fields, gas plants, and ports across the Arabian Gulf have sustained damage from missile and drone strikes over the past three weeks, further straining global energy supplies.
The administration has instead pursued alternative measures to address price pressures, including releases from the Strategic Petroleum Reserve, waiving sanctions on Russian oil, and relaxing shipping rules for U.S. ports. Treasury Secretary Scott Bessent indicated that waiving sanctions on Iranian oil could be the next step in the administration's response toolkit.
Energy analysts warn that export restrictions would likely backfire economically and geopolitically. Columbia University energy scholars argued such measures would offer "limited relief to US consumers while imposing economic and geopolitical costs," as the U.S. has become a major player in global energy markets after years of expanding shipments.
The ongoing conflict in the Gulf region threatens to further disrupt global energy flows, potentially offsetting domestic policy measures as critical infrastructure continues to face damage from sustained attacks on energy facilities.