There were some new clashes, and plenty of claims we’ve heard before, as seven Republican candidates faced off in California.
Issues: oil
U.S. Selling Oil from the Strategic Petroleum Reserve to the Highest Bidding Companies
Q: Is the Biden administration selling crude oil from the Strategic Petroleum Reserve to other countries?
A: The oil is sold to eligible companies that make the highest offers. Some of the companies are U.S. subsidiaries of foreign companies, and some that purchased oil have then exported a portion to buyers overseas. Exports increase the global supply and still help with U.S. gas prices, experts told us.
Social Media Posts Falsely Attribute Statement on Gasoline Prices to Nonexistent ‘BP Oil Executive’
A supply and demand imbalance, exacerbated by Russia’s invasion of Ukraine, led to a surge in gasoline prices. But an online statement attributed to a supposed “BP Oil Executive” blames gasoline prices on U.S. dependence on foreign oil. BP told us the statement did not come from anyone at the company.
Strategic Petroleum Reserve Oil Stocks Declined Under Trump, Contrary to His Claim
The U.S. Strategic Petroleum Reserve was set up in the 1970s as an emergency source of oil in the event of unexpected supply disruptions. When Donald Trump took office as president in January 2017, the reserve held 695.1 million barrels of crude oil. The last full week before he left office in January 2021, it held 638.1 million barrels, or about 8% less.
Both Sides Spin Domestic Oil Production
Examining U.S. ‘Energy Independence’ Claims
Trump’s Final Numbers
FactChecking Trump’s Iran Address
The Facts on Fuel Economy Standards
Is Trump Responsible for Falling Gasoline Prices?
With gasoline prices plummeting, President Trump gave himself a third-person pat on the back via Twitter: “thank you President T.” Energy experts say the decline is largely motivated by market forces outside the president’s control. But experts attribute at least part of the drop to the administration’s decision to soften Iran sanctions.








