President Donald Trump touted a swift decline in oil prices declaring they are falling faster than he expected during a Fox News interview Tuesday. He tied the plunge to his administration’s aggressive push to boost domestic energy production reversing Biden-era restrictions. The claim underscores his pledge to slash energy costs for Americans amid a volatile global market.
Trump pointed to his drill baby drill mantra as the driver behind crude oil dipping below $70 per barrel this month. He argued that ramping up U.S. output has spooked OPEC into holding off production cuts stabilizing prices. This comes after his first term saw record oil production levels a feat he aims to repeat despite environmental pushback.
Energy analysts confirm West Texas Intermediate crude fell 12 percent since January thanks to Trump’s rollback of drilling bans on federal lands. The move flooded markets with supply easing pump prices to under $3 in many states. Critics warn this short-term win could backfire if oversupply crashes prices too low for producers.
Democrats blasted Trump’s glee as tone-deaf with families still grappling with inflation despite cheaper gas. They argue his fossil fuel obsession ignores clean energy jobs lost in the pivot away from renewables. Trump shrugged off the jabs insisting lower energy bills will soon ripple through to grocery and retail prices.
The White House credits DOGE led by Elon Musk with slashing red tape to fast-track oil permits boosting output by 500000 barrels daily. Industry leaders cheer the deregulatory blitz but green groups sue to halt it citing climate risks. Trump doubles down betting voter relief at the pump trumps long-term eco-concerns.
Global markets watch warily as Trump’s oil surge strains ties with Saudi Arabia and Russia key players in price-setting. Reports suggest Riyadh may slash output to counter U.S. gains risking a new price war. The president welcomes the challenge vowing American energy dominance will outlast any foreign pushback.
Gas station owners in Ohio and Texas report steady customer upticks as prices hover near a two-year low. Blue-collar workers laud Trump’s focus on their wallets over elite climate agendas. Yet economists caution that sustained low prices could shrink oil state revenues by $2 billion annually if unchecked.
Trump’s oil gambit ties into his broader pitch that unshackling industry drives prosperity for forgotten Americans. Whether this early victory holds through 2025 hinges on geopolitics and consumer sentiment. For now he revels in delivering a campaign promise as pump prices keep sliding.
Coverage Details
| Total News Sources | 26 |
| Left | 6 |
| Right | 10 |
| Center | 8 |
| Unrated | 2 |
| Bias Distribution | 38% Right |
Relevancy
Last Updated