'US Has More Oil, Gas, Coal Than Any Other Country', Says Trump

(MENAFN- Live Mint) US President Donald Trump on Saturday said that they have more energy resources than any other country, given that Venezuela is working out well.

Trump, in his gaggle with press on Air Force One en route Chippewa Falls, said that the US is having great success with Iran.

"I can do a lot of things. We have a lot of alternatives. But the beautiful thing from our standpoint is we have more oil and gas and coal and everything else than any other country on the planet. And then when you add Venezuela to it... we have probably 64 percent of that type of energy. That's unbelievable. Venezuela's working out very well. We're getting along incredibly. The country is happy. The people love the USA. The big oil companies are moving in there now as we speak. And we're going to be taking out millions of barrels of oil," Trump said when he was asked if he would limit exports of gasoline.

Also Read | Trump says Iran is 'strong' and 'proud' but 'they've got no choice' on deal

He was then asked if US oil majors doing enough to boost output, and he said that they have everything they need.

"Well we have everything we need. The world doesn't. But I will say people thought it was going to be a lot worse. You know, today I looked at 96 dollars a barrel. People thought that was going to be 300 dollars a barrel. And in the meantime, we're having great success with Iran. They're not going to have a nuclear weapon. And they're in no position to have a nuclear weapon," he said.

He was also asked how much oil has the US gotten through the Strait with the help of naval escorts and if Trump directed US forces to guide those ships through the Strait.

Trump responded, "A lot. I don't want to say how many, but a lot. A lot of oil is coming into our country and a lot of oil is coming into the world that people don't even know about. And that's why it's at 97 dollars a barrel instead of 300 dollars a barrel. And when that whole thing is straightened out, shouldn't take long, one way or the other it's going to get done. And when it's all straightened out, you're going to have oil prices drop down to maybe even lower than they were. I was... and you've heard me say this. I was in Iowa and for a gallon of gasoline it was at 1.85. So that was three and a half months ago."

Also Read | US, Iran exchange fire as Hormuz tensions persist

Meanwhile, US forces shot down Iranian missiles and drones launched toward the Strait of Hormuz and neighboring countries, the latest conflict in the region that could further complicate efforts to end the war between the United States and Iran, Washington Post reported earlier in the day.

The report quoted the US military, saying that "Iran fired seven ballistic missiles toward Kuwait and Bahrain hours after U.S. Central Command (Centcom) shot down four Iranian one-way attack drones that were launched toward the Strait of Hormuz."

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