Trump 'lying through his teeth' about gas prices: analysis
HERSHEY, PA - DECEMBER 15, 2016: President-Elect Donald Trump speaks of his relief to have won the state of Texas on Election night during his speech at the "Thank You Tour" rally at the Giant Center, Image via Shutterstock.
The New Republic reports President Donald Trump just can’t stop lying about gas prices.
While speaking at a Tuesday press conference at the waterlogged “Alligator Alcatraz,” Trump again low-balled U.S. fuel prices in many states.
“Now we have no inflation. Gasoline just hit $1.99 in five states: $1.99, isn’t that a nice sound?” Trump said. “It was up to $4 and going up to five, six, and seven. In California, it was $7.70, but we just hit in five states $1.99 and $1.98.”
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“But Trump was lying through his teeth, again,” reports TNR. “The lowest average gas price anywhere in the country Wednesday was $2.71 per gallon in Mississippi, according to AAA. The national average gas price was $3.17 per gallon, which is 3 cents higher than it was a month ago, and 5 cents higher than it was when Trump took office.”
This follows similar behavior in April and May, when Trump repeatedly claimed the price of gas to be only $1.98 in some states, and that that price was spreading to other states, despite American drivers actually paying more than $3 a gallon at the time.
Some oil executives are telling other news outlets that they’re not drilling new wells specifically because of the threat of new output flooding a market made more volatile by Trump’s tariffs and erratic behavior.
“The Liberation Day chaos and tariff antics have harmed the domestic energy industry," reports Axios, quoting one oil executive.
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Axios reported another saying: "Drill, baby, drill will not happen with this level of volatility.”
Additionally, an anonymous quarterly survey of oil executives working in the prolific oil-producing region in Texas showed oil and gas production decreasing slightly in the second quarter, resulting in demand for oil employees falling slightly and working fewer hours.
Read the full New Republic report at this link.
