Gasoline

Parsing Trump's "massive" liquefied natural gas claim

Trump and Juncker press conference in the Rose Garden
President Donald Trump (R) and European Commission President Jean-Claude Juncker (L) deliver a joint statement on trade in the Rose Garden of the White House July 25, 2018. Photo: Win McNamee via Getty Images

President Trump emerged from a trade-focused meeting with European Commission President Jean-Claude Juncker and said Europe will become a "massive" buyer of U.S. liquefied natural gas.

Reality check: Thus far, Asian countries and Mexico have been the main buyers of U.S. LNG as the industry has emerged in recent years, but there's room for growth in Europe as exports rise and new projects come online. But while boosting gas exports to Europe is a goal that dates back years, some analysts say there's reason to doubt that the continent will ever become a huge destination for U.S. cargoes, given its closer and less expensive options.

Report: Trump weighs tapping into emergency oil reserve

Cows groupedwhile black pump jack works beside them on gas-oil well. Photo Susan Vineyard/Getty Images

The Trump administration is weighing whether to release oil from the Strategic Petroleum Reserve in order to moderate gasoline prices ahead of the midterm elections, Bloomberg reported Friday.

Why it matters: The move would represent a remarkable use of the stockpile for political purposes, given that there's currently no crude oil supply shortage or emergency. And gasoline prices, while higher than in recent years, remain well below levels routinely seen in periods between 2010 and 2014, when they were frequently far in excess of $3 per gallon and at times neared $4.