White House October 25 Energy Release: Trump Says Deals Will Cut Gas Prices, Including 65 Billion Barrels From Venezuela and 130 Million Barrels of Diesel Released From Stockpiles
The White House on October 25 published a formal release titled "President Trump Secures Major Deals to Unleash American Energy and Cut Gas Prices at the Pump," summarizing the administration's recent energy actions. The White House said gas and diesel prices will soon drop rapidly, that America is producing record amounts of oil and natural gas, and that it is expanding domestic refining capacity.
According to the release, President Donald J. Trump is utilizing the Defense Production Act, investing millions of dollars to increase American refining capacity and produce more diesel and gasoline. The White House said that after the capture of Venezuela's Nicolas Maduro, the President announced what it called the largest oil deal in world history with Venezuela, securing 65 billion barrels of oil to double America's oil reserves; it said Venezuelan oil coming into the United States has so far increased by over 400 percent and reached its highest level in almost a decade.
The release also listed: an Executive Order signed earlier this month to immediately cut diesel costs for America's truckers and farmers; deals with numerous countries to release over 130 million barrels of diesel from their stockpiles to boost global supply and lower prices; and a statement that more oil is now leaving through the Hormuz Strait than before the conflict.
On natural gas, the White House said the President secured a $54 billion deal with Korea and Taiwan to build the long-stalled natural gas pipeline in Alaska, which it said will cut Alaskans' energy costs by $10 billion, and that Korea is also investing in a natural gas facility in Texas.
The release further said the Trump EPA issued fuel waivers that increased domestic gasoline supply by thousands of barrels per day; that the President issued a waiver increasing shipments of gasoline, diesel, and jet fuel into the country; that the EPA removed fuel restrictions across the country, with the White House saying prices fell in states that followed the EPA's lead while New York and California have not adopted these standards; and that the administration has provided a record number of Small Refinery Exemptions.
All figures and characterizations above are as stated in the White House release of October 25. The White House said the President and his entire administration are working each day to cut gas costs for Americans.
Source: GSM · USA (original Chinese edition)
Photo: 图：美国 Indiana 州 Whiting 炼油厂航拍（2024年10月，资料图）。白宫10月25日稿称政府正扩大国内炼油能力。照片：Pi.1415926535，CC BY-SA 4.0，经 Wikimedia Commons。 / Aerial view of the Whiting Refinery in Indiana, October 2024 (file photo). The White House release of October 25 said the administration is expanding domestic refining capacity. Photo: Pi.1415926535, CC BY-SA 4.0, via Wikimedia Commons.
