Politics & Policy

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Food

Not just gasoline: Rising costs from Iran conflict will impact food, plastics and electronics

The Strait of Hormuz is an artery through which oil, natural gas, petrochemicals and nitrogen fertilizers flow. Just about every consumer product will be more expensive with increased costs of diesel, gasoline, fertilizers, plastics and helium, all of which require oil products. How high prices go and what the impact will be on the economy will depend on how long the conflict continues, and its eventual outcome.

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Chevron

Chevron denies conspiracy to increase Calif. gas prices

“Plaintiffs’ conspiracy theory also fails because it is nonsensical. If the goal was to conspiratorially increase prices, Defendants could have just raised their prices—there is no need for the convoluted, roundabout mechanism Plaintiffs invent here.”