Politico Morning Tax

Trump and the Myth of American Oil Independence

President Trump announced the United States will wind down its war on Iran, asserting that America no longer depends on oil flowing through the Strait of Hormuz because it is now the world’s top producer. While imports from the Gulf have indeed fallen, oil executives warn that Persian Gulf supplies remain critical and are pressing the administration to keep the strait secure. The renewed focus on the region highlights how the shale boom’s slowdown is pulling major oil companies back toward volatile Middle‑East markets, intertwining energy strategy with national security once again. The development signals a shift away from the “energy independence” narrative that has guided U.S. foreign policy for two decades.