War Windfalls: Following the U.S.-Israeli strikes on Iran, a barrel of oil passed the $100 mark for the first time since Russia invaded Ukraine in 2022. Here, the price per gallon of gas is shown at a gas station in New York, NY on March 9, 2026.

Another War, Another Excuse for Profiteering

by Hal Singer March 10, 2026August 24, 2026

Every energy crisis is a windfall for oil refiners—and consumers pay the price.

Support the Washington Monthly

Founded in 1969, the Washington Monthly is an independent media organization based in Washington, D.C. Our mission: To preserve democracy and champion good governance through honest journalism and thoughtful commentary.

We’re not a subsidiary of a giant media company or a mouthpiece for ideologues. We’re independent, listened to by insiders and willing to take on sacred cows—liberal and conservative.

Yes, I'll Make a Donation

Marathon

Another War, Another Excuse for Profiteering

What Donald Trump Could Learn from Bill Clinton About the Bond Market

Death by a Thousand Papercuts

Beyond Virtue Signaling on Ukraine and Russia

Narrative Vehicles

The Roberts Court: Poised to Bless the Trump Ballroom

Dead Reckoning

Never miss an article!