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Home / Business / Trump seeks political gain from low gasoline prices – Axios

Trump seeks political gain from low gasoline prices – Axios



Why it matters: The tweet comes amid signs of a slowing US economy that could create political headwinds for the president, whose approval rating is already rooted in his 40s, according to polls analyzed by FiveThirtyEight and Real Clear Politics.

What Trump tweeted: "My energy policy has made America energy independent while keeping prices low, just like a tax cut. The Democrats green policy will increase the price of gas!"

Reality check: As we noted here, US presidents have limited and indirect influence on pump prices. In addition, the United States is not energy-dependent despite strengthening its position in the world markets and increasing oil and natural gas exports.

  • Crude oil imports have fallen significantly in the midst of the domestic production boom in the last decade.
  • has generally increased since heavy restrictions were lifted in late 2015, and has exceeded 3 million barrels per day at times in recent months, although levels are bouncing around.
  • Looking at energy products to a greater extent, the Energy Information Administration said early this year that the United States is becoming a net exporter.
  • But, but, but: It is not a synonym for "independent" because the United States remains deeply connected to global markets.

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