{"id":76077,"date":"2026-03-12T11:05:16","date_gmt":"2026-03-11T22:05:16","guid":{"rendered":"https:\/\/www.greenpeace.org\/aotearoa\/?p=76077"},"modified":"2026-03-12T11:05:21","modified_gmt":"2026-03-11T22:05:21","slug":"in-trumps-illegal-war-with-iran-the-only-winners-are-oil-and-gas-companies","status":"publish","type":"post","link":"https:\/\/www.greenpeace.org\/aotearoa\/story\/in-trumps-illegal-war-with-iran-the-only-winners-are-oil-and-gas-companies\/","title":{"rendered":"In Trump\u2019s illegal war with Iran, the only winners are the oil and gas companies"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.greenpeace.org\/static\/planet4-usa-stateless\/2026\/03\/36427a1a-gp1sxc0k-1024x681.jpg\" alt=\"Easter March in Augsburg. \u00a9 Lena Mucha \/ Greenpeace\" class=\"wp-image-76448\" title=\"Easter March in Augsburg. \u00a9 Lena Mucha \/ Greenpeace\"\/><figcaption class=\"wp-element-caption\">\u00a9 Lena Mucha \/ Greenpeace<\/figcaption><\/figure>\n\n<p>On February 28, 2026, Trump&nbsp;<a href=\"https:\/\/theintercept.com\/2026\/03\/01\/trump-iran-attack-war-powers-resolution-united-nations-charter-legal\/\">illegally<\/a>&nbsp;went to war with Israel against Iran,&nbsp;<a href=\"https:\/\/theintercept.com\/2026\/03\/05\/trump-iran-war-plan-cia\/\">seemingly<\/a>&nbsp;without having thought through the likely consequences of his actions. The reckless and violent attack cut short&nbsp;<a href=\"https:\/\/www.cbsnews.com\/news\/us-iran-deal-within-our-reach-oman-mediator-says\/\">negotiations<\/a>&nbsp;with Iran and ever since, the administration has&nbsp;<a href=\"https:\/\/www.nytimes.com\/2026\/03\/02\/us\/politics\/trump-war-iran-israel.html\">struggled<\/a>&nbsp;to articulate consistent goals or strategic aims.&nbsp;<\/p>\n\n<p>This latest war caps one year of bombings, invasions, sabre-rattling, and threats against U.S. allies from the self-styled \u201cpeace president.\u201d Tragically, over a thousand lives have already been&nbsp;<a href=\"https:\/\/www.aljazeera.com\/news\/2026\/3\/1\/us-israel-attacks-on-iran-death-toll-and-injuries-live-tracker\">lost<\/a>&nbsp;and the conflict appears to be growing. Trump and Netanyahu\u2019s illegal military strikes have only inflicted more harm on the people of Iran, who have already endured a&nbsp;<a href=\"https:\/\/apnews.com\/live\/iran-protests-updates-1-13-2026\">brutally violent<\/a>&nbsp;crackdown in which thousands of protesters and bystanders have been killed, with many more still feared dead.<\/p>\n\n<p>Trump\u2019s stated desire to control resources \u2013 especially oil and gas \u2013 is&nbsp;<a href=\"https:\/\/www.greenpeace.org\/usa\/keep-your-eye-on-the-venezuela-oil-bailout\/\">behind most of this foreign policy violence<\/a>. As the Iran attack has illustrated, fossil fuel dependence and waging war in a region responsible for more fossil fuel production than any other region in the world is inherently expensive and dangerous. Yet another war shows us why it is well past time to dump fossil fuels.<\/p>\n\n<figure class=\"wp-block-embed is-type-rich is-provider-bluesky-social wp-block-embed-bluesky-social\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"bluesky-embed\" data-bluesky-uri=\"at:\/\/did:plc:vl7iw2awdpm72srjve3f4fj2\/app.bsky.feed.post\/3mgftlgwoac2c\" data-bluesky-cid=\"bafyreiczf6ake6kpg7ictaauefpdzzcllwny7hqt7fs2uzze6ztwx5uafu\"><p lang=\"en\">Trump\u2019s declaration that he expects UNCONDITIONAL SURRENDER from Iran does not seem to be calming markets<\/p>&mdash; <a href=\"https:\/\/bsky.app\/profile\/did:plc:vl7iw2awdpm72srjve3f4fj2?ref_src=embed\">Paul Krugman (@pkrugman.bsky.social)<\/a> <a href=\"https:\/\/bsky.app\/profile\/did:plc:vl7iw2awdpm72srjve3f4fj2\/post\/3mgftlgwoac2c?ref_src=embed\">2026-03-06T17:28:48.585Z<\/a><\/blockquote><script async src=\"https:\/\/embed.bsky.app\/static\/embed.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n<h2 class=\"wp-block-heading\" id=\"h-fossils-are-global\"><strong>Fossils are global<\/strong><\/h2>\n\n<p>The Strait of Hormuz, a strategic water passage through which&nbsp;<a href=\"https:\/\/www.iea.org\/topics\/the-middle-east-and-global-energy-markets\">20% of the world\u2019s oil<\/a>&nbsp;must transit, has been&nbsp;<a href=\"https:\/\/archive.is\/GclWR\">almost completely blocked<\/a>&nbsp;by conflict in the area. The Strait is particularly important for oil and liquified natural gas (LNG) shipments, and the stoppage of traffic has led to spikes in oil and gas prices globally. As of this writing, crude oil&nbsp;<a href=\"https:\/\/www.theguardian.com\/business\/2026\/mar\/09\/iran-war-drives-oil-price-above-100-a-barrel-for-first-time-since-2022\">spiked<\/a>&nbsp;to over $100 per barrel, and LNG benchmark prices have&nbsp;<a href=\"https:\/\/www.cnbc.com\/2026\/03\/03\/middle-east-war-gas-energy-lng-drone-qatar-strait-hormuz-price-shock.html#:~:text=Natural%20gas%20prices%20have%20risen,Strait%20of%20Hormuz%20to%20ships.\">surged<\/a>&nbsp;in Europe and Asia.<\/p>\n\n<p>Apparent Iranian&nbsp;<a href=\"https:\/\/www.nytimes.com\/2026\/03\/02\/business\/natural-gas-prices-qatar-europe-asia.html\">airstrikes<\/a>&nbsp;on two state-owned LNG facilities in Qatar were another example of how war can directly and immediately change energy markets, access, and security globally. After the military strikes, natural gas&nbsp;<a href=\"https:\/\/www.nytimes.com\/2026\/03\/02\/business\/natural-gas-prices-qatar-europe-asia.html\">prices jumped<\/a>&nbsp;and state-owned QatarEnergy said it would halt LNG production as a result. Two days later, QatarEnergy&nbsp;<a href=\"https:\/\/www.wsj.com\/livecoverage\/stock-market-today-dow-sp-500-nasdaq-03-04-2026\/card\/qatarenergy-says-it-can-t-make-lng-declares-force-majeure-Im7vQrPFD8Deig9YgmHc?gaa_at=eafs&amp;gaa_n=AWEtsqdDrTyh4BtLqhoI74i1SVIh1AQ_9QjeHgppP1HE1m_NsOLedtXMY_Ic3TDH2dA%3D&amp;gaa_ts=69a86004&amp;gaa_sig=g5jdyB8qXQG-3AYH7Lp3_7vtShKMfxyVHxRLAlI6G2P-z7jABQb8JqUjjH5dbkbLUCDB48AtgJhrmAkAmtPwVg%3D%3D\">declared force majeure<\/a>, releasing it from its contracted business deals with energy buyers.&nbsp;<\/p>\n\n<p>Qatar\u2019s disruption to normal LNG trade flows both spiked prices and created immediate uncertainty for buyers about where to source LNG, especially for European countries. This will generate enormous windfall profits for some well-positioned oil and gas companies. One&nbsp;<a href=\"https:\/\/www.energyflux.news\/war-profits-quantified\/\">report<\/a>&nbsp;suggests that traders and exporters of U.S. LNG will likely take in $870 million in&nbsp;<em>additional<\/em>&nbsp;weekly profits \u2013 rising to&nbsp;<a href=\"https:\/\/www.energyflux.news\/war-profits-quantified\/\">$20 billion per month<\/a>&nbsp;if Qatari LNG supply isn\u2019t resumed by the summer.<\/p>\n\n<p>On March 8th, the Israeli Defense Force\u00a0<a href=\"https:\/\/www.argusmedia.com\/en\/news-and-insights\/latest-market-news\/2798142-israel-strikes-tehran-fuel-storage-terminals\">struck<\/a>\u00a0at least five energy sites, including fuel storage facilities used for the military, near Tehran. The strikes\u00a0<a href=\"https:\/\/time.com\/7383099\/iran-news-oil-strikes-tehran\/\">led to<\/a>\u00a0fires at fuel depots burning for hours, unbreathable toxic air, and black rain in an area\u00a0<a href=\"https:\/\/www.aljazeera.com\/features\/2026\/3\/9\/israeli-attacks-on-iran-fuel-sites-aim-to-break-resilience-of\">home to 10 million civilians<\/a>. In response, Iran has threatened retaliatory strikes on energy facilities in neighboring countries. A spokesperson for Iran\u2019s Revolutionary Guards\u00a0<a href=\"https:\/\/www.theguardian.com\/world\/2026\/mar\/08\/iran-new-supreme-leader-selected-says-deciding-body\">told<\/a>\u00a0The Guardian: \u201cIf you can tolerate oil at more than $200 per barrel, continue this game.\u201d<\/p>\n\n<p>A very similar global dynamic played out in 2022 following Russia\u2019s invasion of Ukraine, and the energy market disruptions that followed. Research from Greenpeace USA, Oil Change International, and Global Witness found that U.S. oil and gas companies were positioned to earn&nbsp;<a href=\"https:\/\/www.greenpeace.org\/usa\/briefing-u-s-oil-and-gas-companies-set-to-make-tens-of-billions-more-from-wartime-oil-prices-in-2022\/\">tens of billions in windfall profits<\/a>&nbsp;after the invasion, and that U.S. and European companies had&nbsp;<a href=\"https:\/\/www.greenpeace.org\/static\/planet4-usa-stateless\/2024\/11\/264cb39f-russia-revenues-march-2022-v4.pdf\">contributed nearly $100 billion to Putin\u2019s war chest<\/a>&nbsp;since the 2014 invasion of Crimea.<\/p>\n\n<h2 class=\"wp-block-heading\" id=\"h-a-fossil-fueled-world-is-never-affordable\"><strong>A fossil-fueled world is never affordable<\/strong><\/h2>\n\n<p>When oil and gas prices surge,&nbsp;<a href=\"https:\/\/www.axios.com\/2026\/03\/04\/iran-war-gas-prices-trump\">everyday people feel the impact<\/a>. Consumers face higher costs for heating, electricity, and gasoline, and&nbsp;<a href=\"https:\/\/zerocarbon-analytics.org\/energy\/conflict-in-the-middle-east-drives-inflation-in-fossil-fuel-importing-countries\/\">inflation<\/a>&nbsp;grows.<\/p>\n\n<p>Our economy is tethered to volatile global energy markets when fossil fuels dominate.<\/p>\n\n<p>Crude oil is a globally-traded commodity, which means that a supply crunch in one part of the world will usually raise gasoline and energy prices here in the U.S.&nbsp;<a href=\"https:\/\/www.greenpeace.org\/usa\/more-drilling-hasnt-protected-us-from-high-gasoline-prices-heres-what-will\/\">The fact that the U.S. is the world\u2019s largest oil and gas producer offers little to no protection to U.S. consumers<\/a>. We may \u201cdrill, baby, drill\u201d here at home, but the oil belongs to the oil companies, who will happily export it at a higher price. With the rise of global LNG markets, the same dynamic is increasingly true for gas as well.<\/p>\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Why \u201cDrill, Baby, Drill\u201d Won\u2019t Lower Gas Prices\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/TnsgvX92qUY?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n<p>On March 6th, six days after the U.S. and Israel began military strikes in Iran, gas prices at the pump were&nbsp;<a href=\"https:\/\/gasprices.aaa.com\/\">up an average $0.34<\/a>&nbsp;from the week before. By March 9th, they had&nbsp;<a href=\"https:\/\/gasprices.aaa.com\/\">risen<\/a>&nbsp;to $3.48 per gallon and&nbsp;<a href=\"https:\/\/www.bbc.com\/news\/articles\/c14m57k8vgeo\">airfares<\/a>&nbsp;may also rise as a result of the warfare. Even the price of many consumer goods can increase with fossil fuel price volatility: any product that is made from fossil fuels (think plastics or petrochemicals) and goods that are shipped or transported using fossil fueled vehicles are vulnerable.&nbsp;<\/p>\n\n<p>Trump has said the war with Iran&nbsp;<a href=\"https:\/\/www.nytimes.com\/2026\/03\/01\/us\/politics\/trump-iran-war-interview.html\">could last for weeks<\/a>, but an end to the conflict is not immediately apparent and the situation remains hard to predict. Trump has yet to articulate&nbsp;<a href=\"https:\/\/www.washingtonpost.com\/national-security\/2026\/03\/03\/trump-iran-war-rationale-hegseth-rubio\/\">a serious and consistent rationale<\/a>&nbsp;for the military actions. On gas prices for people in the U.S., Trump says&nbsp;<a href=\"https:\/\/www.businessinsider.com\/us-gas-prices-climb-highest-trumps-term-oil-iran-2026-3\">\u201cif they rise, they rise\u201d<\/a>, discarding his previous campaign promises on lowering gas prices. That instability threatens to keep energy markets in chaos.&nbsp;<\/p>\n\n<p>Many in the U.S.&nbsp;<a href=\"https:\/\/www.cnn.com\/2026\/03\/02\/politics\/cnn-poll-59-of-americans-disapprove-of-iran-strikes-and-most-think-a-long-term-conflict-is-likely\">already disapprove<\/a>&nbsp;of the war, and now U.S. companies are raking in millions, even billions in profits, while individuals and families pay the price. The profits from high energy prices strongly&nbsp;<a href=\"https:\/\/www.nytimes.com\/2026\/03\/03\/climate\/iran-energy-crisis-climate.html\">favor the rich<\/a>, who own the largest stakes in energy companies.<\/p>\n\n<p>The immediate price surges, energy security risks, inflation, and corporate exploitation of wartime illustrate just how&nbsp;<a href=\"https:\/\/oilchange.org\/blogs\/trumps-war-on-iran-as-people-are-killed-big-oils-windfall-will-deepen-our-energy-affordability-crisis\/\">insecure and unaffordable<\/a>&nbsp;fossil fuels are. Phasing out fossil fuels is&nbsp;<a href=\"https:\/\/www.belfercenter.org\/publication\/geopolitics-renewable-energy\">essential<\/a>&nbsp;for long-term, consistent affordability and security of energy. Unlike globally traded oil and gas, renewables&nbsp;<a href=\"https:\/\/www.greenpeace.org\/aotearoa\/story\/the-strikes-on-iran-show-why-quitting-oil-is-more-important-than-ever\/#:~:text=Renewables%20do%20not%20eliminate%20geopolitical,few%20countries%20have%20large%20reserves.\">are not subject to the same geopolitical risks<\/a>&nbsp;of fossil fuels. Notably, the affordability of renewable energy would likely be&nbsp;<a href=\"https:\/\/www.iea.org\/reports\/strategies-for-affordable-and-fair-clean-energy-transitions\/price-shocks-and-affordability\">insulated from global geopolitics<\/a>&nbsp;in&nbsp;<a href=\"https:\/\/www.newsweek.com\/deep-sea-mining-threatens-us-security-ocean-peace-opinion-2108778\">ways<\/a>&nbsp;that are nearly impossible with oil and gas.<\/p>\n\n<p>War is paid for in human lives and shattered futures \u2013 and it poisons land and water, destroys ecosystems, and accelerates climate breakdown. There is no climate justice without peace, and no lasting peace without human rights.<\/p>\n\n<p>The cycle of violence and profit must end. We call for peace, accountability, and for leaders to transition to a just world where security does not depend on fossil fuels and force.<\/p>\n\t\t\t<section\n\t\t\tclass=\"boxout post-65568 \"\n\t\t\t\n\t\t>\n\t\t\t<a\n\t\t\t\tdata-ga-category=\"Take Action Boxout\"\n\t\t\t\tdata-ga-action=\"Image\"\n\t\t\t\tdata-ga-label=\"n\/a\"\n\t\t\t\tclass=\"cover-card-overlay\"\n\t\t\t\thref=\"https:\/\/www.greenpeace.org\/aotearoa\/petition\/petition-choose-clean-energy-future\/\" \n\t\t\t><\/a>\n\t\t\t\t\t\t\t<img\n\t\t\t\t\t\tsrc=\"https:\/\/www.greenpeace.org\/static\/planet4-aotearoa-stateless\/2024\/08\/b684e0fe-gp0su1t4w_medium-res-1200px-1024x683.jpg\"\n\t\t\t\t\t\tsrcset=\"https:\/\/www.greenpeace.org\/static\/planet4-aotearoa-stateless\/2024\/08\/b684e0fe-gp0su1t4w_medium-res-1200px-600x400.jpg 600w, https:\/\/www.greenpeace.org\/static\/planet4-aotearoa-stateless\/2024\/08\/b684e0fe-gp0su1t4w_medium-res-1200px-1024x683.jpg 1024w, https:\/\/www.greenpeace.org\/static\/planet4-aotearoa-stateless\/2024\/08\/b684e0fe-gp0su1t4w_medium-res-1200px-768x512.jpg 768w, https:\/\/www.greenpeace.org\/static\/planet4-aotearoa-stateless\/2024\/08\/b684e0fe-gp0su1t4w_medium-res-1200px-510x340.jpg 510w, https:\/\/www.greenpeace.org\/static\/planet4-aotearoa-stateless\/2024\/08\/b684e0fe-gp0su1t4w_medium-res-1200px.jpg 1200w\"\n\t\t\t\t\t\tsizes=\"(min-width: 1000px) 358px, (min-width: 780px) 313px, 88px\"\n\t\t\t\t\t\talt=\"activist in a dinghy holding up sign saying No New Gas\" title=\"activist in a dinghy holding up sign saying No New Gas\"\n\t\t\t\t\/>\n            \t\t\t<div class=\"boxout-content\">\n\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\tclass=\"boxout-heading medium\"\n\t\t\t\t\t\tdata-ga-category=\"Take Action Boxout\"\n\t\t\t\t\t\tdata-ga-action=\"Title\"\n\t\t\t\t\t\tdata-ga-label=\"n\/a\"\n\t\t\t\t\t\thref=\"https:\/\/www.greenpeace.org\/aotearoa\/petition\/petition-choose-clean-energy-future\/\"\n\t\t\t\t\t\t\n\t\t\t\t\t>\n\t\t\t\t\t\tPETITION: STOP THE LNG TERMINAL\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<p class=\"boxout-excerpt\">We call on the Government to reject plans for an LNG facility, invest in renewables &amp; embrace a Clean Energy Future for NZ<\/p>\n\t\t\t\t                                    <a\n                        class=\"btn btn-primary\"\n                        data-ga-category=\"Take Action Boxout\"\n                        data-ga-action=\"Call to Action\"\n                        data-ga-label=\"n\/a\"\n                        href=\"https:\/\/www.greenpeace.org\/aotearoa\/petition\/petition-choose-clean-energy-future\/\"\n                        \n                    >\n                        Add my name\n                    <\/a>\n                \t\t\t<\/div>\n\t\t\t\t\t<\/section>\n\t","protected":false},"excerpt":{"rendered":"<p>On February 28, 2026, Trump\u00a0illegally\u00a0went to war with Israel against Iran,\u00a0seemingly\u00a0without having thought through the likely consequences of his actions. <\/p>\n","protected":false},"author":106,"featured_media":76085,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_planet4_optimize_post_is_variant":false,"_planet4_optimize_experiment_name":"","_planet4_optimize_variant_name":"","ep_exclude_from_search":false,"p4_og_title":"","p4_og_description":"","p4_og_image":"","p4_og_image_id":"","p4_seo_canonical_url":"","p4_campaign_name":"","p4_local_project":"","p4_basket_name":"","p4_department":"","footnotes":""},"categories":[10],"tags":[],"p4-page-type":[6],"class_list":["post-76077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-greenpeace","p4-page-type-story"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.8 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>In Trump\u2019s illegal war with Iran, the only winners are the oil and gas companies<\/title>\n<meta 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