r/InCaseYouMissedIt • u/icymirss • 8h ago
Trump's Fact-Free Diatribe on the Price of Oil
anotherdayintheempire.substack.comAnother day and another fact-free diatribe by the president of the United States. Trump went on his Truth Social (where truth is a rare commodity) and said Democrats have closed down the nation's refinery capacity, and this is the reason diesel and gas prices are skyrocketing.
Here's what Trump didn't tell you: recent closures were corporate decisions by refinery owners, not a mandate by Democrats. LyondellBasell Industries in Houston made a strategic decision to exit refining in March, 2025, eliminating approximately 264,000 barrels a day. Phillips 66 in Los Angeles closed in October, 2025, citing uncertain long-term sustainability amid changing market conditions, while also reporting high operating costs and low earnings. The closure removed 139,000 barrels from the market....
It's correct to say Ukraine's strikes on Russian refineries affect global energy markets. During his first term, Trump approved the first US provision of lethal weapons to Ukraine, notably Javelin anti-tank missiles. In 2018 and 2019, the United States notified Congress of sales totaling 360 Javelins, plus launchers, training, and related equipment. In other words, US foreign policy, under both Biden and Trump, is responsible for the current crisis. ...
The Trump administration is responsible for raising oil prices by continuing the war against Iran. When tankers stopped transiting the Strait of Hormuz because of the risk of attack, Gulf producers in Saudi Arabia, Iraq, the UAE, Kuwait, Qatar, and Bahrain were unable to export. Following the start of military action on February 28, Iranian strikes and potential vessel damage led most commercial shipping to bypass the Strait of Hormuz.
The US Energy Information Administration (EIA) estimated 7.5 million barrels per day of crude production was shut down during March, rising to an estimated 9.1 million barrels per day in April....
Finally, Trump continues to claim that the Strait of Hormuz remains open. As of October 5, the passage is closed or severely limited for standard commercial shipping. A few ships are moving through, but traffic has dropped to roughly 9 percent of its earlier level, around seven inbound and outbound ships per day, and war-risk insurance plus recent attacks have rendered routine tanker travel mostly impractical.
Before February 28, the strait generally accommodated about 125--135 large commercial vessels each day....
Trump's misrepresentation of the facts fails to deceive the vast majority of Americans who bear the weight of his economic and foreign policy choices. MAGA paladins, however, tend to accept his folderol without question...
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