Trump's "Drill, Baby, Drill" Fails Amidst Iran War Oil Crisis

The "Drill Baby Drill" Delusion

Right so Trump's shouting "drill baby drill" like he's found the bloody golden ticket. But let's be honest it's about as useful as a chocolate teapot in this crisis. He ramped up fossil fuel policies opened up new land for leasing and slashed regulations faster than I can yell at a bloody incompetent cook. And what's the result? A load of hot air when the Strait of Hormuz goes belly up. We're staring down the barrel of an oil crisis and all he can do is repeat a slogan like a parrot.

Hormuz Hellhole: A Crisis Too Big to Drill Out Of

The Strait of Hormuz is blocked taking 20% of the world's oil supply with it. Senator Heinrich's right you can't drill your way out of this mess. Even if you drained every last drop from the Strategic Petroleum Reserve it wouldn't be enough. We're talking about global market conditions not some bloody local farm shop. Speaking of which did you see Luxury Stocks Tumble After LVMH Fails to Dazzle? Now that's a real disaster. All that fancy champagne and caviar going to waste. Anyway back to the oil fiasco the repercussions will sting for months.

Palin's Pipedream: Empty Promises and Dry Wells

Ah Sarah Palin and her "drill baby drill" mantra. It's like listening to a broken record. They tout drilling in Alaska and the Gulf of Mexico but what happens when the Cook Inlet opening gets zero bids? Zero! It's a joke. Currently the U.S. churns out about 13.7 million barrels a day while refining around 16 million. But oil is still held hostage by the global market. The Strait of Hormuz dictates the tune and Trump's domestic dance routine is off key.

Market Mayhem: Supply Demand and a Whole Lot of Trouble

Heinrich is spot on; it's all about supply and demand. With the Middle East in turmoil things are out of balance for a considerable time. Analyst Brian Prest confirms it: drilling domestically to offset the Strait of Hormuz shutdown is a pipedream. Even with sky high U.S. production we can't just conjure oil out of thin air. It took 15 years to reach this production level; don't expect miracles overnight. This ain't "Hell's Kitchen," you can't just yell at it and expect it to improve.

Producers Pause: No Rush for Black Gold

Despite oil prices skyrocketing after the Russian invasion of Ukraine U.S. producers aren't exactly stampeding to drill more. The rig count increased slightly but overall crude oil production has been steadily climbing since 2010 thanks to fracking and horizontal drilling in places like the Permian Basin. It's not a frantic fire sale. It is a slow calculated play. Honestly I have seen more urgency in a snail race.

The Long Game: A Distant Dream of Energy Independence

Even Republicans are conceding that more drilling won't solve the immediate crisis. Senator Hoeven admits that the increased drilling might lower prices in the long run but the pressing matter is opening the Strait of Hormuz. It's a longer term strategy. Meanwhile U.S. oil futures are hitting over $95 Brent's topped $100 and Iran's new supreme leader is digging in his heels. This is more than a kitchen fire; it's a bloody inferno and "drill baby drill" ain't going to cut it.