President Trump tweeted earlier this week in an effort to cool down all the negative reactions to soaring oil prices, but as usual, his tweets weren’t necessarily soothing balm. Trump said in his tweet that the US was actually no longer depending on Middle Eastern oil and according to his tweet, he’s the one directly responsible.
“Because we have done so well with Energy over the last few years (thank you, Mr. President!), we are a net Energy Exporter, & now the Number One Energy Producer in the World… We don’t need Middle Eastern Oil & Gas, & in fact have very few tankers there, but will help our Allies!”President Donald Trump
Quick fact check: The US is LESS dependent on Saudi imported oil than it previously has been, we are still receiving about 9% from them. And is Trump personally responsible for the dip? That’s up for debate.
Trump’s tweets came after attacks on two separate oil facilities in Saudi Arabia happened over the weekend casing oil prices all over the world to skyrocket. The US issued accusations against Iran for the attacks, but they have denied responsibility.
In fact, regarding Trump’s claim that we should thank him for progress, the US Energy Department actually released a report earlier in the year predicting that the US would experience a boom in oil and gas production that would lead to them to be a huge exporter by 2020. Although some reports say that the US has BEEN the largest energy producer since 2014, which President Trump might recall was about halfway through OBAMA’S second term.
Most experts agree that America won’t make it to be fully energy independent by 2020, however, because its refineries still need the medium and heavy crude oils which are found overseas and not just the light crude oil found in the US. One such expert, Joe McMonigle, an Energy Dept. official under President George W. Bush, told CNN, “Until the US refining sector is able to process more lighter crudes, we’re never going to have energy independence.”
“Until the US refining sector is able to process more lighter crudes, we’re never going to have energy independence.”Former Energy Dept. official Joe McMonigle
In government statistics from 2018, the US is said to have imported around 900,000 barrels of Saudi oil PER DAY. Not to mention the 16% of US oil from the Persian Gulf region and 29% from elsewhere in the OPEC cartel.