BILOXI, Miss. (WLOX) – Steve Moore, a former senior economic advisor to President Donald Trump, spoke Wednesday at the Gulf Coast Food and Fuel Expo, addressing professionals in the food and fuel industries on the state of the economy, energy costs and artificial intelligence.
Gas prices surge following U.S.-Iran conflict
Moore’s appearance comes as gas prices have climbed sharply across Mississippi. According to AAA, drivers in the state are paying nearly 40% more for gas on average than they did a month ago — a spike that followed the U.S. entering into conflict with Iran at the end of February.
Donald Smith, a lifelong Biloxi resident, said the increase has changed his routine at the pump.
“Now, it’s like I’m filling up twice a week,” Smith said. “Normally, it’s once a week that I go to the gas station, and now it’s twice a week.”
Moore: U.S. must reduce dependence on foreign oil
Despite the current strain on consumers, Moore said he remains optimistic about the U.S. economy and pointed to ongoing efforts by the Trump administration to reduce the country’s dependence on foreign oil.
“I’m feeling very good about this U.S. economy,” Moore said. “Once we get this all resolved in the Middle East, once we get the Strait of Hormuz over, all that oil can come through.”
Moore said the conflict in the Middle East underscored the need for energy independence.
“One lesson of what’s happened in the Middle East is we don’t want to have to be dependent on the Middle East any longer,” Moore said. He added that Trump had set an even higher bar during their conversations. “I remember telling Donald Trump that I thought we could be energy independent. He said, ‘Steve, I want America to be energy dominant.’”
AI revolution will drive major energy demand
Moore also addressed what he described as an approaching technological revolution driven by artificial intelligence.
“We are at the beginning of this amazing productivity revolution with artificial intelligence, with the data centers, with robotics,” Moore said. “It is going to be an incredible future.”
He warned, however, that the revolution would come with significant energy demands.
“For that revolution to happen, it uses enormous amounts of energy,” Moore said. “So, our demand for energy will triple over the next ten years.”
The Trump administration has maintained that the country is experiencing short-term pain for long-term gain. Smith said he is not convinced conditions will improve.
“It’s not going to change,” Smith said. “It’s just like with the economy and everything else. Grocery prices — they said it was going to go back down; it’s steady going up.”
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