4 min readApr 2, 2026 09:00 AM IST
First published on: Apr 2, 2026 at 07:54 AM IST
US President Donald Trump on Thursday said that under his leadership, the United States has become the number one producer of oil and gas on the planet, without even accounting for the millions of barrels it is receiving from Venezuela.
“Because of our ‘Drill, Baby, Drill’ program, America has plenty of gas… Under my leadership, we are the number one producer of oil and gas on the planet, without even discussing the millions of barrels that we’re getting from Venezuela,” Trump said during his address to the nation.
Trump also said that the US is producing more oil and gas than Saudi Arabia and Russia combined. “Because of the Trump administration’s policies, we produce more oil and gas than Saudi Arabia and Russia combined… and that number will soon be substantially higher. There’s no country like us anywhere in the world, and we’re in great shape for the future.”
The US President also stressed that the US imports almost no oil from the Strait of Hormuz and will not be taking any in the future. “We don’t need it, we haven’t needed it,” he said. He added that countries that receive oil through the Strait of Hormuz “must take care of that passage,” adding, “They must grab it and cherish it. They can do it easily. We will be helpful, but they should take the lead in protecting the oil that they so desperately depend on.”
“The United States imports almost no oil through the Strait of Hormuz and won’t be taking any in the future. We don’t need it… We’ve beaten and completely decimated Iran. They are decimated, both militarily and economically and in every other way,” he said.
Referring to countries that are struggling to secure fuel while also refusing to get involved in the conflict, Trump suggested that they should “buy oil from the United States” and “build up some delayed courage and take control of the Strait of Hormuz.”
“To those countries that can’t get fuel, many of which refuse to get involved in the decapitation of Iran… I have a suggestion… Number one, buy oil from the United States of America; we have plenty. We have so much. And Number two, build up some delayed courage… Go to the Strait and just take it. Protect it. Use it for yourselves. Iran has been essentially decimated. The hard part is done.”
Trump added that once the conflict is over the Strait of Hormuz will open naturally. “It’s gonna open up naturally. They’re gonna wanna be able to sell oil… because thats all they have,” adding that the oil prices will then rapidly come down and stock market will go up.. “They haven’t come down that much honestly.”
US President Donald Trump speaks about the Iran war from the Cross Hall of the White House on Wednesday, April 1, 2026, in Washington. (AP Photo) 
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