WED AM News: Energy consumers taking a hit from Iran conflict, panelists say; More voters say Trump policies will increase inflation, poll finds

March 25, 2026

— Energy consumers are bearing the brunt of the economic impact from the war in Iran, a panel of experts agreed, while natural gas producers and oil-producing U.S. states are expected to see some benefit.

Speaking yesterday during a WisPolitics-State Affairs virtual luncheon, Customers First! Coalition Executive Director Kristin Gilkes noted those who are most exposed to volatile energy prices will likely see the greatest impact from the conflict. That includes low- to middle-income people and rural residents as well as larger energy customers such as industrial users.

Since the United States and Israel began their assault on Iran last month, U.S. gas prices have risen by nearly a third. In Wisconsin, average gas prices are up nearly 45% versus a month ago, according to a fuel price tracker from AAA. The key trade route for oil exports in the region, the Strait of Hormuz, has been effectively blocked by Iran as the conflict continues.

“I’ve heard of larger customers who have energy bills over $1 million a month, so these fuel costs can really directly impact them,” Gilkes said. “Obviously, we want to help sort of mitigate those shocks through effective utility regulation, that encourages utilities to do that long-term planning, use hedging, use long-term contracts to help keep those prices low.”

Tom Barrett, the former U.S. ambassador to Luxembourg and Milwaukee mayor, noted major American oil companies have seen their stock rising “significantly” over the last month or so. He sees them as benefitting in the short term amid lower supply and consistent demand driving up fuel prices.

“In the long-term, it still is anybody’s guess,” he said. “What is our endgame in Iran? Are we going to be successful at having a regime change? Are we going to be successful in making the Strait of Hormuz safe for travel, and when will we make it safe for travel?”

In the meantime, consumers in Wisconsin “are feeling it right now, there’s no question about that, and they’re going to continue” doing so, he added. Barrett said even if the conflict ended tomorrow, the higher prices at the gas pump would persist for some time.

While Asia and Europe are more reliant on the oil that typically moves through the strait, panelists noted the global interconnectedness of energy markets means prices are rising everywhere.

Meanwhile, ex-U.S. Ambassador to the Czech Republic Rick Graber said it’s “certainly possible” the price increases could lead to more fuel production domestically.

“It just makes common sense, the way to protect against stuff we cannot control beyond our borders is to produce more,” he said.

Peter Barca, a former Dem lawmaker and cabinet secretary in Wisconsin who now represents Natural Allies for a Clean Energy Future, said it’s “totally unpredictable” how long the strait will remain closed to commercial traffic.

“The biggest winner is U.S. natural gas suppliers,” he said yesterday, noting demand for their fuel is growing “exponentially” amid the conflict.

Barrett also pointed to projections that Texas will get an additional $1 billion in tax revenue due to rising prices, noting gas-producing states “are going to make out like bandits in this thing” if prices remain high.

Graber also said higher oil prices substantially benefit Russia, helping to fund its ongoing war in Ukraine.

“If Russia’s doing well, the loser is obviously Ukraine and the Ukrainian people, which is unfortunate in many respects,” he said. “Certainly consumers in the short-term are losers. Iranian people are losers in all of this. I think there’s a lust for change in that country, and I hope it comes about. But they’re losing, and they’re struggling through all of this.”

Watch the video.

— More registered voters now believe President Donald Trump’s policies will increase inflation, according to the latest Marquette University Law School Poll.

The poll this month found 59% of respondents believe Trump’s policies will increase inflation, while 28% believe they will decrease inflation and 12% saying they have no effect. That’s a shift from the last poll in February, when the split was 53-35 in favor of his policies increasing inflation.

Respondents were also asked several questions about tariffs, including whether or not they support the recent U.S. Supreme Court decision that Trump didn’t have the authority to impose tariffs under the International Emergency Economic Powers Act.

Their answers illustrate a stark partisan division on this issue, with 73% of Republicans opposed to the decision and 27% in favor. Just 7% of Democrats were opposed and 92% were in favor. The split was 28% opposed and 71% in favor for independents. And among all voters, 40% were opposed and 59% were in favor.

Opinions remain largely unchanged on whether tariffs help or harm the economy, with 53% saying they hurt, 30% saying they help and 17% saying they don’t make much of a difference.

But when asked about the impact on farmers in particular, fewer respondents indicated they had a positive view. Sixty percent said tariffs hurt Wisconsin farmers while just 16% said they help them and 25% said they don’t make much of a difference. This breakdown has remained relatively stable from the last two polls, going back to October 2025.

Other questions in the poll asked about voting in the coming state Supreme Court election as well as candidates, Trump’s attack on Iran, use of military force, the president’s job approval and more.

The poll of 850 registered voters was conducted March 11-18 and had a margin of error of plus or minus 4.4 percentage points.

See the full results.

— Concordia University says a planned expansion of its nursing education facilities will help better prepare graduates to meet local workforce demands.

The university yesterday announced it will hold a groundbreaking April 22 for a new nursing wing at its Mequon campus, adding 26,000 square feet of new construction and renovating another 12,000 square feet of space.

It will include advanced hospital simulation suites and virtual reality technology to get students ready for clinical practice. These features can simulate the experience of stabilizing a patient with heart trouble or assisting in delivering a baby, as well as other elements of the job such as deescalating conflict.

Students in the program experience hundreds of simulated clinical scenarios before they get the chance to work directly with patients, the announcement notes.

Construction on the new nursing wing is slated to run through summer 2027 before the new space opens for the fall semester that year.

See the release and more project details.

Top headlines from the Health Care Report…

— The Marshfield Clinic Research Institute is asking state residents to participate in an ongoing project focused on tickborne diseases by sending in ticks they encounter in Wisconsin.

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