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Forbes - Policy

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In The Wake Of The Iran War The U.S. Must Produce More En...
Steve Forbes · 2026-05-27 · via Forbes - Policy

A small compressor station for a 12' liquified natural gas (LNG) pipeline in Spanish Valley, near Moab, Utah. (Photo by: Jon G. Fuller/VW Pics/Universal Images Group via Getty Images)

VW Pics/Universal Images Group via Getty Images

The Mideast turmoil is once again reminding Americans of a hard truth: Energy security is economic security. When the Middle East trembles, Americans at home feel it at the gas pump, in utility bills and throughout the broader economy.

The national average for a gallon of regular gasoline is around $4.50—a painful jump, even if it’s still lower than the prices in many other countries. President Trump has assured Americans that prices will return to normal as the conflict in the Middle East subsides. History suggests that’s likely. But the real lesson is larger than one temporary price spike.

The U.S. must produce more energy. Period. For too long, Washington pursued what can only be described as a policy of energy subtraction: restricting production, slow-walking permits, strangling infrastructure and pretending that bureaucratic mandates could replace abundant supply. That approach doesn’t lower prices; it raises them. It doesn’t strengthen America; it weakens us.

The Trump Administration has wisely moved in the opposite direction. That means unlocking our vast energy resources, expanding production, building pipelines, approving infrastructure and increasing exports to allies who need reliable alternatives to hostile regimes.

Liquefied natural gas (LNG) is a prime example. In just its first decade as a major American industry, LNG has become a remarkable economic success story. It supports tens of thousands of jobs along the Gulf Coast and in nearly 40 states. It generates substantial tax revenue for local communities. It has contributed nearly $500 billion to the American economy.

Just as important, LNG has become a pillar of U.S. national security. During the Iran conflict—and especially as LNG facilities in Qatar came under assault—American LNG helped keep energy flowing to allies overseas. That’s what energy dominance looks like. It’s not a slogan; it’s a strategic asset.

Predictably, opponents of energy abundance continue to claim that LNG exports raise prices for American consumers. This argument has been disproven by a decade of real-world evidence.

Energy prices are shaped by many factors: supply and demand, weather, infrastructure constraints and geopolitical shocks. Temporary spikes can happen, especially during conflicts like Russia’s invasion of Ukraine or turmoil in the Middle East. However, the broader American story is one of abundant, affordable natural gas.

Since the first U.S. LNG cargo was exported a decade ago, American natural gas production has surged. LNG exports have grown by roughly 16 billion cubic feet per day since 2016, but domestic production has grown by about twice that amount. That’s why Americans continue to enjoy some of the lowest residential natural gas prices in the world.

Prices of LNG have remained stable, recently hovering near $2 despite geopolitical turbulence. Over the past decade, average prices have been more than 50% lower than before LNG exports began. That’s not a record of scarcity; It’s a record of abundance. The lesson is simple: Markets work when government gets out of the way.

Those genuinely concerned about affordability should support more U.S. energy production, not less. Burdensome “green” regulations, endless permitting delays and hostility toward pipelines don’t protect consumers. They impose costs on utilities, discourage investment and reduce supply. Inevitably, consumers pay the bill.

The international stakes are just as clear. The U.S. is now the world’s largest exporter of LNG, giving Europe and other allies a vital alternative to Russian energy. If America pulls back, Russia and unstable Middle Eastern suppliers will gladly fill the void. That would raise global energy risks and, ultimately, put upward pressure on prices here at home. Energy weakness invites economic pain and geopolitical danger. Energy abundance delivers jobs, lower costs, stronger allies and a more secure America.

As the midterms approach, lawmakers in both parties should focus on the policies that actually bring down prices: expand energy infrastructure, approve pipelines, streamline permitting, reduce unnecessary restrictions and produce more energy at home while exporting more to our friends abroad.

The answer to volatile global energy markets isn’t to retreat from American energy leadership; it’s to double down on it. The U.S. has the resources, workers and technology to lead. What it needs now is the political will to do so.