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Reading: Trump “Doesn’t Understand Oil Supply and Demand” as Prices Soar, Says Congressman
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Politics

Trump “Doesn’t Understand Oil Supply and Demand” as Prices Soar, Says Congressman

Published on: March 19, 2026 at 5:02 AM ET

Donald Trump is at the center of growing unease over war and economic fallout.

Yusra Khan
Written By Yusra Khan
News Writer
Donald Trump’s handling of Iran and oil markets sparks growing debate.
Donald Trump’s handling of Iran and oil markets sparks debate (Image Credits: Wikimedia Commons/Author- Jackson A. Lanier)

In an interview with Tim Miller on the Bulwark podcast, Congressman Ro Khanna, a Democrat from California, expressed doubts about the foreign and energy policies of U.S. President Donald Trump. Khanna said the president appeared unaware of the pricing of oil and questioned if he had a plan to end the conflicts in the world.

The congressman pointed to a statement by the president, in which he suggested that the U.S. should completely dismantle what he called a “terrorist state.” The U.S. President also left countries relying on the Strait of Hormuz to manage the fallout on their own.

 Khanna also criticized Trump’s understanding of the oil market. He said that the President does not understand the oil supply and demand situation. He also said that in case the oil flow in the Strait of Hormuz is blocked, oil prices would rise, and at the same time, some oil production regions in the U.S. would benefit from this situation.

pic.twitter.com/d2XqBQvWdM

— Harish Chandra (@HarishChan20246) March 18, 2026

He said that the impact is already being felt at gas stations. He added that as the conflict continues, and with no sign of capitulation from Iran, President Trump has not outlined a plan to change its course, as reported by AlterNet.

Representative Khanna also expressed disappointment at the lack of strategy in the policies pursued by President Donald Trump regarding the situation in Iran. He said, “There’s no coherence to the policy,” and that President Trump seems to think he could win this “by just terrorizing the regime.”

He also said that President Trump mentioned that he does not want the protesters in Iran to “get slaughtered,” but he did not say how he would prevent this. “Like, I don’t understand what the plan is. Even in Iraq, you had to put in ground troops. I don’t know a scenario (that wins in Iran) through just air strikes and bombing.”

Members of Congress’ support for President Donald Trump has largely remained unchanged. The California Democrat said, “While the members of Congress largely buy the president’s narrative on the war, their public expressions of support have been noticeably less intense.”

Since the outbreak of the conflict with Iran, roughly 90 ships, including oil tankers, have navigated the Strait of Hormuz, continuing the flow of millions of barrels of oil despite restrictions on the waterway, according to maritime and trade data. Lloyd’s List Intelligence noted that many of these were clandestine “dark” transits likely connected to Iran, while more recently, vessels linked to India and Pakistan have navigated the strait as diplomatic efforts intensified.

pic.twitter.com/pCRpSx0DWq

— Harish Chandra (@HarishChan20246) March 10, 2026

With crude prices surpassing $100 a barrel, President Donald Trump called on allies and trading partners to deploy warships and reopen the strait to ease rising costs. Since early March, most commercial traffic through this critical passage, which handles about one-fifth of the world’s crude supply, has been largely suspended, and approximately 20 vessels have come under attack.

Despite Western sanctions, Iran has continued to export more than 16 million barrels of oil since early March, according to trade analytics firm Kpler. China has accounted for the largest share of purchases, despite the risks of sanctions enforcement.

According to Kun Cao of consulting firm Reddal, Iran has been able to benefit financially while maintaining control over its own critical export chokepoint in the Strait of Hormuz. Maritime traffic data corroborates these estimates, showing that at least 89 ships, including 16 oil tankers, transited the strait between March 1 and 15, down from roughly 100 to 135 daily transits before the conflict.

About 20 percent of these vessels were likely Iranian, with Chinese and Greek vessels making up much of the remainder. Amid these ongoing oil movements, Khanna warned that Trump does not understand capitalism, leading to higher costs for Americans.

TAGGED:Donald TrumpiranRepresentative Ro Khanna
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