U.S. Asks for Help to Address Energy Crisis

Summary

WSJ What’s News: U.S. Asks for Help to Address Energy Crisis

Host: Luke Vargas (for The Wall Street Journal)
Date: March 16, 2026

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Episode Overview

This episode focuses on the U.S. effort to build a global coalition to keep the Strait of Hormuz open during an escalating energy crisis and examines international responses, domestic energy concerns, and the broader impacts—both economic and political—unfolding worldwide. Additional topics include a major labor strike in the U.S. meatpacking industry, the ongoing U.S. government shutdown’s spillover into air travel, shifts in China’s economic outlook, the rise of Europe’s far left in recent elections, and highlights from the Oscars.

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Major Topics & Insights

1. The U.S. Coalition for the Strait of Hormuz

• Main Point: The U.S. is appealing to international allies to assist in keeping the Strait of Hormuz open to global marine traffic amidst increasing tensions with Iran.

• Details & Reactions:

  • President Trump reported from Air Force One that at least seven countries had been approached to patrol the Strait (00:52).
    • Implied low personal risk, but noted the U.S. would "remember which countries declined to help."
  • Notable Quote (Luke Vargas):

    "The US is appealing for help in its push to keep the Strait of Hormuz open to marine traffic."
    — [00:52]

  • Several key U.S. allies, including Japan and Australia, indicated no intent to send ships (02:03).
    • Japan’s lack of involvement was unsurprising due to its homeland-focused defense posture.
    • European allies face a dilemma: support a U.S.-led mission they politically oppose or act to secure their fuel supply.

• European Response:

  • The UK may send anti-mining ships; France (per President Macron) may only send escorts post conflict (02:42).
  • Many NATO nations lack available naval resources, partly due to prior commitments in Arctic security prompted by U.S. interests in Greenland.

• Security Risks:

  • Both U.S. and allies are hesitant to put ships at risk in the narrow, vulnerable Strait of Hormuz.

• Notable Quote (Dan Michaels):

  “Nobody, including the U.S. navy at this point seems to want to put ships in harm’s way. Because the Strait of Hormuz is so small, it’s so easy for the Iranians to hit ships.”
  — [00:40, 03:07]

  • Iran’s Response: Iranian Foreign Minister blames the U.S. and claims they are still cooperating with selected nations to allow their ships through (04:18).

2. U.S. Domestic Energy Concerns

• Energy Secretary’s Stance: Chris Wright stated that energy price hikes might last longer than initially projected, refusing to guarantee a quick return to lower prices.
  • Noted no certainty in war outcomes or energy price trajectories (04:47–05:05).
• Industry Warning: Oil executives reportedly warned White House officials that available U.S. options might not resolve the energy crunch.
  • President Trump did not attend these meetings.
• Impact:

  • U.S. average gasoline prices: $3.72/gallon (+$0.24 in a week); WTI & Brent both above $100/barrel (05:20).

  • Notable Quote (Chris Wright):

    “There’s no guarantees in wars at all.”
    — [04:52] “I can guarantee the situation would be dramatically worse without this military operation to defang the Iranian regime.”
    — [05:03]

3. U.S. Labor Strike: Meatpacking

• Background:
  • 3,800 workers at a major Colorado meatpacking plant (JBS) are striking over wage and equipment cost disputes.
• Union Stance:
  • Desire for pay to match local cost of living and end worker charges for protective equipment (06:11–06:15).
• Context:

  • Beef supply constraints: cattle populations at a 75-year low; ground beef prices up 17% in a year.

  • JBS insists its offer is "strong and fair."

  • Notable Quote (Kim Cordova, union president):

    “Our members are prepared, they voted to strike, and we’re ready to take on this fight.”
    — [06:11]

• Industry Impact:
  • Other major processors (Cargill, Tyson Foods) have also closed plants or cut operations due to tighter margins.

4. Government Shutdown & Air Travel Disruption

• Issue:
  • Airline execs urge Congress to restore DHS funding during a partial shutdown causing long waits and disruptions, especially as spring travel nears (06:44–07:08).
• Industry Concerns:
  • U.S. airlines brace for a record 171 million passengers this spring.
  • "Air travel had once again become a political football," per an airline execs' open letter.

5. China’s Economic Update

• China’s Approach:
  • Strong initial economic performance (growth in industrial output, retail sales, investment) offers leeway to shift toward a consumption-driven model (07:35–08:18).
• Longstanding Challenges:

  • Decades of export-driven growth make altering habits and expectations difficult.

  • Persistent uncertainty and public apprehension.

  • GDP Target: 4.5–5% for the year (08:18).

  • Notable Quote (Jonathan Chang):

    “We have an economy that is generally doing better to start the year… it gives China and its policymakers just a little bit more wiggle room to maneuver to consumption.”
    — [07:35] “…China recognizes that the limits of exports as a growth engine may be upon them.”
    — [07:48]

6. Europe’s Far Left: Rise & Momentum

• Election Results:

  • Far left candidates in France (“France Unbowed”) and the UK (Green Party) show notable gains, echoing trends found in Germany and elsewhere (08:43–09:31).

• Scale & Impact:

  • Gains are growing, but remain modest compared to the surging far right.

  • Example: UK Green Party win in a traditional Labour seat.

  • Germany’s Linke (far-left) party saw a significant polling surge last election.

  • Notable Quote (Bertrand Benoit):

    “The left is having a bit of a moment… the latest example was in the UK… the Green Party won the election in a constituency that used to be dominated by the Labour Party…”
    — [09:32]

• Drivers of the Far Left’s Momentum:

  • Reactionary “pushback” against the far right (10:34).

  • Discontent with aggressive U.S. policies—belief in more left-leaning parties’ efficacy to challenge U.S. influence.

  • Economic anxiety, especially among young people—cost of living, AI-driven job insecurity.

  • Notable Quote (Bertrand Benoit):

    “The cost of living is a huge issue, especially for younger people, and so is job prospects with the rise of AI, which is making careers very uncertain.”
    — [10:34]

• Increase in Far Left Violence:

  • Not direct party links, but more attacks and unrest from extremist groups (11:24).

• Electoral Outlook:

  • Low chances for national power, but growing enough to influence broader political discourse.
    • Influence extends to mainstream left parties (“discourse is changing… seeing victory of Zoran Mandani in New York as a signal... need something a little more muscular”) (12:18).

• Notable Quote:

  “So the prospect of these parties coming to power is still very low, at least at the national level. What you could see, though, is this party is growing big enough to influence politics more generally.”
  — [12:18]

7. Oscars Recap

• Headline Wins:

  • Paul Thomas Anderson’s “One Battle After Another” swept major categories: Best Picture, Director, Adapted Screenplay, Supporting Actor.

  • Historic moment: “Sinners” won Cinematography—the first time a woman or a person of color has won this category in 97 years (13:49–14:05).

  • New Oscar for Casting introduced; “One Battle After Another” wins inaugural award.

    • Notable Quote (Ben Fritz):

      “Sinners won for cinematography, the first time a woman or a person of color has ever won that prize… the applause in the room was rapturous.”
      — [13:49]

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Key Quotes and Notable Moments (with Timestamps)

• Dan Michaels on Strait of Hormuz danger:

  “Nobody, including the U.S. navy at this point seems to want to put ships in harm’s way…”
  — [00:40, 03:07]

• Chris Wright, Energy Secretary, on price uncertainties:

  “There’s no guarantees in wars at all.”
  — [04:52]

• Kim Cordova on labor action:

  “Our members are prepared, they voted to strike, and we’re ready to take on this fight.”
  — [06:11]

• Jonathan Chang on China’s economic challenge:

  “China recognizes that the limits of exports as a growth engine may be upon them and therefore they recognize that they do need to shift. But it’s very difficult in a country where people are not accustomed to spending in the same way that Americans are.”
  — [07:35–07:58]

• Bertrand Benoit on European left’s momentum:

  “The left is having a bit of a moment. To be sure. It’s nothing on the scale of the moment that the far right has had across the region, but is something that you can distinguish…”
  — [09:31]

• Ben Fritz on Oscars’ Cinematography win:

  “Sinners won for cinematography, the first time a woman or a person of color has ever won that prize. …the applause in the room was rapturous.”
  — [13:49]

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Timestamps for Key Segments

• U.S. appeals for Strait of Hormuz coalition: [00:33–04:18]
• U.S. Energy Secretary on oil prices: [04:30–05:05]
• JBS meatpacking strike: [06:11–06:15]
• Air travel/government shutdown: [06:44–07:08]
• China’s economy: [07:35–08:18]
• Rise of Europe’s far left: [08:43–13:23]
• Oscars recap: [13:34–14:23]

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Summary

The episode provides a concise yet in-depth look at the uneasy dynamics shaping global energy security, the domestic pressures driving U.S. labor and airline sectors, shifting economic strategies in China, and the evolving landscape of European politics—particularly the emergence of the far left. The reporting is energetic, direct, and filled with illuminating on-the-ground perspectives from WSJ bureau chiefs and industry experts, capped off by a momentous Oscars night highlighting industry breakthroughs.

Transcript

[CLA Representative]

At cla, we're in your corner and on it. We coach tax strategies and little League first base. We help you adopt AI data tools, and we adopt Rescue's name, buddy. We walk your factory floor and jog the local 5k, though sometimes we walk that too. Wherever you're coming from, we're right there with you. Wherever you're going, we'll get you there. CLA CPAs consultants and advisors. Learn [e-mail] with you.

[Luke Vargas]

The U.S. tries building a coalition to address the growing energy crisis. We'll look at how American allies are

[Dan Michaels]

responding and Nobody, including the U.S. navy at this point seems to want to put ships in harm's way. Because the Strait of Hormuz is so small, it's so easy for the Iranians to hit ships.

[Luke Vargas]

Plus, airline execs lean on lawmakers to end a partial government shutdown, causing long lines at airports. And Europe's far left gets its mom. It's Monday, March 16th. I'm Luke Vargas for the Wall Street Journal, and here is the AM edition of what's news, the top headlines and business stories moving your world. Today, The US Is appealing for help in its push to keep the Strait of Hormuz open to marine traffic. Speaking to reporters on Air Force One last night, President Trump said that seven countries had been approached about policing the waterway, a mission he seemed to imply was low stakes and and adding that the US Would remember which countries declined to help.

[Jonathan Chang]

It'd be interesting to see what country

[Bertrand Benoit]

wouldn't help us with a very small

[Luke Vargas]

endeavor which is just keeping the strait open. While Trump declined to name names, he all but confirmed that China was asked to help protect the strait. As we await a response from Beijing, our Brussels bureau chief, Dan Michels, told me that several NATO countries and other close US Allies in the Pacific could disappoint Trump with their lack of interest in joining the mission.

[Dan Michaels]

So far, Japan and Australia both have signaled that they are not going to send any ships for Japan. It's not really surprising because their entire defense posture really is homeland security. The big question will be Europeans because the almost complete cutoff of fuel from the Persian Gulf is hitting Europe hard already and the energy situation is only going to get worse for Europe. So the issue Europe faces is whether to participate in a war that most Europeans object to or to look out for their economic interests and join the

[Luke Vargas]

U.S. dan, in terms of where this leaves us, we've heard a little bit from the United Kingdom and from France, the UK Seemingly erring towards maybe sending anti mining ships, while the French, as vocalized by President Emmanuel Macron, may send escort ships, but only after intense fighting is over. I guess the question over the next few days is going to be if that's, that's kind of what we hear from Washington's NATO allies in Europe, is that going to be enough?

[Dan Michaels]

The European perspective on this seems to be that they don't want to actively contradict or go against Trump and anger him that way, but at the same time, they don't want to commit to doing something that they don't want to do. Another issue is the Europeans don't have a lot of ships that they can send and in fact recently committed a lot of ships to Arctic security, in part because of Trump's desire for Greenland. One possible type of ship they could send is the Europeans do have anti mine ships to look for and sweep naval mines that Iran might put in the Persian Gulf. But those ships are not meant to go into live combat. And Nobody, including the U.S. navy at this point seems to want to put ships in harm's way. Because the Strait of Hormuz is so small, it's so easy for the Iranians to hit ships. So it's a very dangerous place for any ship, including the world's most advanced warships, to be sailing.

[Luke Vargas]

That was the Journal's Dan Michaels while speaking on CBS News Face the Nation. Iranian Foreign Minister Abbas Aragchi blamed the situation in the strait on President Trump and said that Tehran was working with certain unnamed countries to let their ships through.

[Bertrand Benoit]

So we provide them security to pass because we have not closed this strait. They are not coming themselves because of the insecurity which is there because of the aggression by the U.S. meanwhile, after

[Luke Vargas]

previously predicting that any energy price jump caused by the war would be very temporary, U.S. energy Secretary Chris Wright is refusing to rule out that prices could now stay higher for longer. Here he was speaking to Martha Raddatz on ABC News this Week. Yes, we go through this period of

[Ben Fritz]

short term disruption, but better to do

[Luke Vargas]

it now than to have a nuclear armed Iran. Are you really sure it's going to be short term? Can you guarantee it'll just be weeks before prices go down? Hey, there's no guarantees in wars at all.

[Ben Fritz]

I can guarantee the situation would be

[Luke Vargas]

dramatically worse without this military operation to defang the Iranian regime. Those comments come as we exclusively report that oil execs told White House officials last week that the energy crisis could continue to worsen and that the options available to the US Would do little to address the situation. President Trump didn't attend the meetings with CEOs. According to AAA, gas prices across the US today are averaging $3.72 a gallon, up 24 cents from a week ago. Meanwhile, WTI and Brent crude futures are Both trading above $100 a barrel this morning. Roughly 3,800 workers at a major Colorado meatpacking plant are set to go on strike this morning after failing to negotiate a new labor contract after months of negotiations. The union representing workers wants plant owner JBS to align wages with the higher cost of living in Colorado and to stop charging employees for certain protective equipment worn on site. The union's president for Colorado and Wyoming, Kim Cordova, spoke to 9News Denver.

[Bertrand Benoit]

Our members are prepared, they voted to strike and we're ready to take on this fight.

[Luke Vargas]

JBS maintains that its offer to workers is strong and fair. The walkout would be the first at a US beef slaughterhouse since the 1980s and comes as cattle populations hit a 75.5year low, driving the price of ground beef up 17% over the last year. The higher prices are hurting manufacturers profits. With jbs, Cargill and Tyson Foods all closing plants and slashing shifts this year, US Airline executives are urging Congress to restore funding to the Department of Homeland Security and ensure that air traffic controllers and airport security officers are paid. That's as the ongoing partial government shutdown is causing long wait times at airports at the start of the busy spring travel season. In an open letter to Congress published Sunday online and in the Washington Post, top executives from airlines including Delta, American and Southwest wrote that air travel had once again become a political football. According to the letter, US airlines are expecting a record 171 million passengers this spring, and China's economy has started the year on a strong footing, giving leaders there more breathing room as they try to shift the country's growth engine toward consumption. Industrial output, fixed asset investment and retail sales all grew as expected. Jonathan Chang is our Beijing bureau chief.

[Jonathan Chang]

We have an economy that is generally doing better to start the year than generally expected, and that's good because it gives China and its policymakers just a little bit more wiggle room right now to maneuver to consumption. It's the sort of thing that is going to be somewhat painful because the country has had a different model for all these decades and China recognizes that that the limits of exports as a growth engine may be upon them and therefore they recognize that they do need to shift. But it's very difficult in a country where people are not accustomed to spending in the same way that Americans are. And just there's a lot of apprehension about the future because China's growth rate has been so strong for so long and now it's really slowed down and that's made people concerned about the Future.

[Luke Vargas]

China's new GDP target lies between 4.5 and 5% for the year. Coming up, are Europe's political winds changing? We'll look at a wave of momentum powering a rise of the far left from the UK to Italy after the break. Data is everywhere.

[Bertrand Benoit]

When orchestrated properly, it sings.

[Luke Vargas]

At Morningstar, we analyze and enrich data, making it actionable and powerful for you. Morningstar, where data speaks. Voters in France went to the polls yesterday. In local elections. The far right national rally performed well, hardly a surprise after several years of gathering momentum. But so did candidates from the far left. France unbowed, part of a trend of rising left wing enthusiasm across Europe that's caught the attention of our Germany bureau chief, Bertrand Benoit. Bertrand, I imagine that the crucial distinction for listeners is going to be is the far left having a moment as you report that it is the same as actually winning. What are you seeing?

[Bertrand Benoit]

Yes, Lou, exactly. The left is having a bit of a moment. To be sure. It's nothing on the scale of the moment that the far right has had across the region, but is something that you can distinguish and you see this in opinion polls, but you also see this in election results. The latest example was in the UK we had a by election and the Green Party won the election. And this was in a constituency that used to be dominated by the Labour Party, the softer left, if you like, for about a century. So it was a big deal. And then, you know, we're seeing this in Germany as well to a slightly lesser extent. It started just before the general election in February last year. And the left party called the Linke, which is the successor party to the East German Communist Party, had a big jump in ratings just before the election and ended up in double digits, which was quite remarkable.

[Luke Vargas]

What's driving this? Many of the economic anxieties that are present in the countries you've been describing are not new. Exactly. Has something changed otherwise?

[Bertrand Benoit]

There are three main drivers. One is it's a bit of a pushback against the right. So it's a reaction or a counter reaction, if you like. The second is the international context. A lot of the supporters of these parties think that they are more effective at pushing back against the trends coming from the U.S. for instance, instance in the very aggressive policy there. While many governments have been quite supine in their reaction or relationship with Trump and then the last one is, and they say it's the biggest one and the most important one is economic anxiety. You're right that these problems have been around for some time, but the cost of living is a huge issue, especially for younger people, and so is the job prospects with the rise of AI, which is making Korea very uncertain.

[Luke Vargas]

Yeah, we've definitely heard that sentiment from voters in a number of countries, Bertrand, but as you report, not everyone views electoral politics as necessarily the way to address those issues.

[Bertrand Benoit]

Yes, and there's a noticeable uptick in far left violence or violence by far left groups. Just to be clear, we're not suggesting that the parties we've mentioned are backing the violence or fomenting violence or even agree with it. There's no hint of a connection between these parties and these groups. But you've seen attacks by ECO terrorists in Germany, for instance, instance on the power grid. You've seen beatings and even a murder in France that has caused quite a lot of uproar in the country. So this is also part of the general trend, if you like, which is one towards more polarization at all levels.

[Luke Vargas]

What's the chance we see any of these parties really sweep into power? We've seen how more establishment parties have responded to the rise of the far right in recent years, often kind of banding together in somewhat awkward alliances on occasion to stop them. I'm curious how they're reacting here.

[Bertrand Benoit]

So the prospect of these parties coming to power is still very low, at least at the national level. Even the far right parties that are doing much better are having really a difficult time coming to power in many of these countries. What you could see, though, is this party is growing big enough to influence politics more generally. And then you see also in some more centrist left of center parties, the discourse is changing because they're seeing the victory of Zoran Mandani in New York as a bit of a signal that the soft centrifugal discourse is not doing it anymore. And you need something a little more muscular. It looks different because in the US it's happening within the parties and this conversation is happening within the two big parties. The discussion about the pros and cons of Mandani's approach and platform and program and ideas. It's a conversation that's happening within the Democratic Party here. It would be, you know, a lot of what he's talking about are policies that would be more at home with the linker or a party like the Greens in the UK than with Labour or the spd. You know or the socialist in France.

[Luke Vargas]

I've been speaking to Wall Street Journal Germany bureau chief Bertrand Benoit. Bertrand, thank you so much for the update.

[Bertrand Benoit]

Thanks, Luc. Anytime.

[Luke Vargas]

And finally, it was a big night for one battle after another at the Oscars, with the Paul Thomas Anderson movie taking home best picture, director, adapted screenplay and supporting actor. Reporting from the Dolby Theater in Hollywood, Journal's Ben Fritz says there were also a few surprises.

[Ben Fritz]

Sinners won for cinematography, the first time a woman or a person of color has ever won that prize. It's been all white men for the past 97 years. So that was a tremendous change for the entertainment industry, for Hollywood. And the applause in the room was rapturous. Also tonight was the first ever Oscar given for casting, which is, of course, the person who finds the actors to fill every role, big and small. This year's nominees were all movies that were also nominated for best Sinners, the Secret Agent, Marty, Supreme, Hamnet, and One Battle After Another. And the prize went one battle after another.

[Luke Vargas]

And that's it for what's news for this Monday morning. Today's show was produced by Hattie Moyer and Daniel Bach. Our supervising producer is Sandra Kilhoff. And I'm Luke Vargas for the Wall Street Journal. We will be back tonight with a new show. Until then, thanks for listening. Model portfolios have evolved from a one size fits all solution. In a recent roundtable conversation, Jeffrey Safe of blackrock and Alessio de Longis of Invesco break down what's driving the next model moment, discussing how a deeper level of customization is producing a better alignment with investor goals and creating a practice differentiator for financial advisors.