FACT CHECK: Trump Cut a Deal that Raised Oil Prices for Americans

WASHINGTON, D.C. – Kamala Harris cast the tie-breaking vote to save Americans $38 billion on energy costs and will hold Big Oil accountable for gouging Americans at the pump, while Trump cut a deal with foreign governments to artificially raise gas prices to help out his most important Big Oil megadonor. 

• FACT: Kamala Harris cast the tie-breaking vote to triple American clean energy production, including unprecedented investments in affordable clean energy options.

• FACT: Gas prices hit a three year low and are expected to continue falling for the next several months. 

• FACT: Kamala Harris’ vote for the historic clean energy plan is projected to lower electricity bills and gas prices by up to 9% and 13%, respectively.

• FACT: Donald Trump is bought and paid for by Big Oil. Trump asked Big Oil CEOs for $1 billion and promised to deliver their day-one wishlist so that he can win a second term while they rake in huge profits. 

• FACT: In 2020, Trump cut a deal with Vladimir Putin, Saudi Crown Prince Mohammed bin Salman, and OPEC+ to increase oil prices so that he could bail out his most important Big Oil megadonor, Harold Hamm. 
  • FACT: USA Today’s editorial board wrote of the deal that Trump’s “attempt to help oil companies will cost American workers and fuel-reliant businesses at the gas pump.”
  • FACT: Trump has repeatedly boasted about raising oil prices on camera at multiple events.

• FACT: The FTC may call for a criminal investigation over allegations that a (now former) Big Oil CEO colluded with Saudi-led oil cartel OPEC to artificially reduce output and inflate gas prices “at the expense of U.S. households and businesses,” costing Americans an estimated $500 per car.