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Photo: Justin Sullivan/Getty Images

President Trump tweeted Saturday that drivers should "Enjoy the low gas prices over the Labor Day weekend!," yet he inaccurately characterized U.S. energy markets in the same message.

Where it stands: Per AAA, the average gasoline price nationally is $2.58, the lowest level heading into the Labor Day holiday since 2016 (but quite similar to 2017 levels).

Why it matters: The tweet comes amid signs of a slowing U.S. economy that could create political headwinds for the president, whose approval rating is already mired in the low-40s, according to polls analyzed by FiveThirtyEight and Real Clear Politics.

What Trump tweeted: "My energy policies have made America energy independent while keeping prices low, just like a Tax Cut. The Democrats 'green' policies will raise your price of gas!"

Reality check: As we noted here, U.S. presidents have limited and indirect influence on pump prices. In addition, the U.S. is not energy independent despite its strengthening position in global markets and rising exports of oil and natural gas.

  • Crude oil imports have fallen significantly amid the domestic production boom over the last decade.
  • Crude exports have been generally rising since heavy restrictions were lifted in late 2015, and have exceeded 3 million barrels per day at times in recent months, though levels bounce around.
  • Looking at energy products more broadly, the Energy Information Administration said early this year that the U.S. is on the cusp of becoming a net exporter.
  • But, but, but: That's not a synonym for "independent" because the U.S. remains deeply connected to global markets.

Go deeper

Updated 40 mins ago - Sports

Japan's Naomi Osaka lights Olympic cauldron, kicking off Tokyo Games

Naomi Osaka lights the Olympic cauldron. Photo: Clive Rose/Getty Images

After a year-long delay, the Olympics finally got underway Friday as tennis star Naomi Osaka, who is competing for Japan, lit the cauldron, formally kicking off the Tokyo Games.

The big picture: Friday's opening ceremony looked, like many things over the last year, different than normal — multicolored seats replaced cheering fans, masks were a central part of the athletes' uniforms and a subdued, somber tone marked the occasion.

1 hour ago - World

China sanctions Wilbur Ross, 5 other Americans over Hong Kong warnings

Photo: Al Drago/Bloomberg via Getty Images

The Chinese government imposed sanctions on Monday against six Americans, including former Commerce Secretary Wilbur Ross, in response to an advisory from the Biden administration warning businesses of the increased risks of operating in Hong Kong.

Why it matters: It's the latest example of China responding furiously to U.S. attempts to shed light on human rights abuses in places like Hong Kong, Xinjiang and Tibet, which Chinese officials routinely condemn as "interference" in domestic affairs.

3 hours ago - Sports

Cleveland Indians change name to "Guardians"

The Cleveland Indians baseball team announced Friday that it will change its name to the "Guardians," following years of activism and protests against a moniker considered offensive by many Native Americans.

Why it matters: It's the first time the team will change its name since 1915, a move that comes in the wake of the nationwide racial reckoning that began with the murder of George Floyd.