By Paul Wiseman, Jon Gambrell, Calvin Woodward
President Donald Trump mischaracterized core elements of the U.S. economy and stretched the facts in claiming to have toppled Iran’s government as he addressed the nation Wednesday night in a time of soaring gas prices and persistent inflation.
Here’s a look at some of his statements…
Middle East oil
CLAIM: “We’re now totally independent of the Middle East, and yet we are there to help. We don’t have to be there. We don’t need their oil.’’
THE FACTS: It’s true that the United States is by far the world’s leading producer of oil and relies on the Persian Gulf for a fraction (8.5% in 2025) of the oil it imports. But, as is obvious at U.S. gas pumps, that doesn’t mean it is unaffected by the turmoil in the Middle East.
Oil is a commodity, “the price of which is set in a global market,’’ University of Chicago energy analyst Sam Ori said before Trump’s speech, “and a disruption anywhere affects the price everywhere.’’ Which is why the price of benchmark U.S. crude oil is up more than 50% since the Iran war began, and the average price of U.S. gallon of gasoline cracked $4 a gallon this week.