G20 Meetings in Texas Promote 'Energy Abundance' Amid Iran War Shock

The meetings are scheduled to continue until Wednesday in Houston, Texas, a U.S. state rich in oil.

The gatherings will feature delegations from the world’s largest economies, including China, India, Japan, and Germany, alongside top oil producers such as Canada and Saudi Arabia.

In early September, Russian Finance Minister Anton Siluanov participated in a Group of Twenty (G20) meeting in North Carolina at Washington’s invitation, a move that sparked displeasure among Ukraine’s European allies.

These allies expressed disappointment over the U.S. decision to invite Russia, viewing it as contrary to efforts to isolate Moscow due to its invasion of its neighbor.

One of Washington’s stated priorities as host of the G20 meetings is to expand access to affordable, reliable, and secure energy. However, supplies have been significantly affected since the U.S. and Israel launched attacks on Iran in February.

The United States has seen a sharp surge in fuel prices, with diesel (3.78 liters per gallon) hitting a record high, averaging $6.20 currently, according to data from the American Automobile Association.

The price of regular gasoline has also risen by 44% compared to levels before the war began.

This unpopular war and its repercussions have raised concerns within the Republican Party, to which Trump belongs, about the possibility of suffering a defeat in the midterm elections scheduled for November.

The U.S. president has accused Iran of escalating the war to harm him politically, recently claiming that the conflict would end “immediately” after the elections.

Trump has also accused Ukrainian President Volodymyr Zelenskyy of causing diesel supply shortages by launching attacks on Russian refineries.

U.S. Energy Secretary Chris Wright, who played a pivotal role in Washington’s energy dealings with Venezuela, is expected to attend the Houston meetings, along with Interior Secretary Doug Burgum.