Nobel Prize economist accuses Trump of ignoring predictable economic fallout

Nobel Prize-winning economist Paul Krugman criticized the Trump administration for failing to anticipate the economic consequences of striking Iran, particularly soaring oil prices. Krugman wrote that decision-makers "should have seen this coming," but evidence suggests they didn't prepare for the resulting crisis. Despite U.S. oil self-sufficiency, the closure of the Strait of Hormuz caused American gasoline, diesel, and heating oil prices to surge because oil trades on global markets at roughly uniform prices worldwide.