Victor Davis Hanson breaks down the economics of global energy markets, explaining why American consumers pay higher gas prices during Middle East conflict despite domestic energy production. He contrasts America's free-market export model with state-subsidized fuel in autocratic regimes like Venezuela, noting how high-cost U.S. production leaves producers seeking to "make the money where I can" on international markets.

Watch the full episode of Victor Davis Hanson: In His Own Words at The Daily Signal or on YouTube.