The Oil Crisis That’s Becoming an ‘Everything Crisis’
3/11/202625 min
The war in Iran is setting off a global economic shock wave. In this episode, the Opinion editor Steve Stormberg speaks with the Bulwark economics editor and MS NOW anchor Catherine Rampell on how the Trump-made war is likely to affect global trade and the cost of living for Americans.
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This episode of “The Opinions” was produced by Derek Arthur. It was edited by Kaari Pitkin and Jillian Weinberger. Mixing by Pat McCusker. Original music by Isaac Jones, Carole Sabouraud and Pat McCusker. Fact-checking by Mary Marge Locker and Kate Sinclair. Audience strategy by Shannon Busta and Kristina Samulewski. The deputy director of Opinion Shows is Alison Bruzek. The director of Opinion Shows is Annie-Rose Strasser.
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Transcript preview
First 90 secondsLauren Dragon0:00
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Speaker 10:30
[upbeat music] This is The Opinions, a show that brings you a mix of voices from New York Times Opinion. You've heard the news. Here's what to make of it.
Steve Stromberg· Host0:40
[somber music] I'm Steve Stromberg, an editor for New York Times Opinion. We are in the second week of war with Iran. We have already seen thousands of casualties in Iran and the Gulf region, as well as American military deaths. And then there's the economic fallout, and that's what we're going to be talking about in this conversation. We're taping on Monday as the price of oil is fluctuating wildly. President Trump tried to deflect criticism in a press conference Monday evening.
Donald Trump· Soundbite1:13
I knew oil prices would go up if I did this, and they've gone up probably less than I thought they'd go up. But I don't think anybody thought we were gonna be this quickly successful. This was a, a military success the likes of which people haven't seen. We have the best military.