WSJ What’s News – AM Edition
Episode: U.S. Steps Up Fight to Reopen Strait of Hormuz
Date: March 20, 2026
Host: Luke Vargas (B)
Guest Contributors: Omar Abdel Baki (C), Damian Paletta (D)
Overview
This episode centers on the intensified U.S. military campaign to reopen the vital Strait of Hormuz, ongoing economic and geopolitical ripples from Middle East tensions, and major updates in U.S. domestic politics and corporate news. The episode also covers steps nations are taking to calm energy markets, the UAE's aggressive information control during wartime, and the latest on the government shutdown impacting U.S. air travel.
Major Topics & Key Points
1. U.S. Military Actions to Reopen the Strait of Hormuz
Segment: 00:54–03:08
- The U.S. has escalated military efforts to fight through Iran’s maritime blockade in the Strait of Hormuz, targeting Iranian naval assets with jets and drones.
- Defense Secretary Pete Hegseth reports over 120 Iranian vessels have been damaged or destroyed, but experts warn the operation may take weeks due to Iran's extensive stockpiles and hidden boats.
- Saudi officials warn oil prices may climb above $180/barrel if current disruptions persist, an outcome that could spark a recession or create negative perceptions of Saudi Arabia profiting from war.
- Various governments are intervening to calm markets and prevent further escalation, with measures including consumer supports and easing of sanctions on Iranian oil already in transit.
Notable Quote:
“Experts say the mission could take weeks to show results, with Iran still believed to have a vast stockpile of mines and hundreds of undamaged boats stored in tunnels.” – Luke Vargas (00:54)
2. International Policy & Market Reactions
Segment: 01:59–03:10
- Israeli Prime Minister Netanyahu claims President Trump has requested a hold on further Israeli strikes on Iranian oil facilities.
- U.S. Treasury Secretary Scott Besant suggests possible removal of sanctions on Iranian oil at sea.
- EU leaders propose tax reductions and consumer assistance on energy to cushion the blow from rising costs.
Memorable Quote:
“In some cases, electricity is taxed much more than gas, partially up to 15 times more, and this cannot be so. We will propose to lower tax rates…on electricity and to make sure that electricity is taxed less than fossil fuels.” – Ursula von der Leyen, European Commission President (03:08)
3. UAE/Dubai’s Information Management Amidst Missiles and Drones
Segment: 03:10–04:48
- Dubai is confronting reputational challenges as Iranian attacks counter its image of safety.
- Authorities combine extensive marketing and aggressive policing of social media, cracking down on posts that contradict official narratives about safety and normalcy.
- Stern penalties include prison time and hefty fines for those sharing unofficial information or documenting attacks.
Quotes & Moments:
“Influencers are showing videos of malls and cafes that have a lot of people so that it just looks like everything is normal and that it’s a normal day in Dubai.” – Omar Abdel Baki (03:35)
“Violators could risk prison time of at least two years and fines of more than $50,000. And they started an arrest campaign…” – Omar Abdel Baki (04:08)
4. U.S. Government Shutdown & Impact on Air Travel
Segment: 04:48–07:29
- The partial government shutdown continues with mounting disruptions, especially at airports as unpaid TSA staff quit in rising numbers.
- With spring break looming, bipartisan pressure mounts to resolve funding—either temporarily or permanently.
- Key sticking point: Democrats weigh whether to keep pressing the White House for immigration policy changes in exchange for ending the shutdown.
- Uncertainty remains over prospects for a “reset” now that Markwayne Mullin is poised to lead DHS, replacing Kristi Noem.
- The White House signals willingness to moderate on immigration enforcement, noting public backlash during election season.
Notable Exchanges:
“There’s a lot of unpaid TSA employees who are quitting. And it just seems like a matter of time before Democrats and Republicans realize this is unsustainable.” – Damian Paletta (05:11)
“Do Democrats need to keep pressuring the White House here, or do they feel like they’ve already made enough strides to pass this spending bill?” – Luke Vargas (05:42)
“…Mark Wayne Mullen doesn’t have a lot of experience running an agency this big, but he definitely does not seem like he wants to have the same adversarial approach that Kristi Noem used.” – Damian Paletta (06:51)
5. Tech, Business & Merger News
Segment: 08:28–10:50
- Jeff Bezos’ Lu Origin company seeks FCC approval to launch 50,000 satellites for AI data centers in space, joining a race with SpaceX and Star Cloud.
- Nexstar Media Group finalizes a $6 billion merger with Tegna, now a broadcast giant—despite ongoing antitrust lawsuits from multiple states.
- President Trump publicly supports the Nexstar/Tegna merger, calling it a counter to “fake news” national networks.
- Unilever is negotiating a spin-off/merger of its food business with McCormick, following portfolio reshuffling.
Quote:
“This merger would give one broadcasting behemoth the power to raise prices for consumers and to control and degrade local news coverage, sports programming and other TV content, and it would undoubtedly lead to job cuts.” – Rob Bonta, California Attorney General (09:29)
Memorable Quotes & Moments
- “It only took a few days to puncture a reputation that took them decades to build.” – Luke Vargas on Dubai’s image (00:43)
- “President Trump has told members of his inner circle that some of these mass deportation policies…did go too far.” – Michelle Hackman/Josh Dawsey via Luke Vargas (06:26)
- “A bigger Nexstar would balance out the fake news national TV networks.” – President Trump (09:29, paraphrased)
Timestamps: Key Segments
- 00:54 – U.S. military targets Iranian ships to reopen the Strait of Hormuz
- 01:59 – Market interventions and EU proposals for energy costs
- 03:35 – Dubai’s dual social media campaign: normalcy and crackdown
- 04:48 – U.S. government shutdown: airport chaos and political standoff
- 06:51 – DHS leadership change, immigration reset prospects
- 08:28 – Tech: Bezos’s Project Sunrise and satellite plans
- 09:13 – Nexstar-Tegna merger details and antitrust concerns
Tone & Style
The reporting is factual, urgent, and globally-focused, interlaced with direct quotes, expert commentary, and occasional blunt assessments about politics and markets. The episode’s swift pace offers listeners actionable news and succinct yet thorough context on unfolding international and U.S. events.