America's refiners are printing record profits because of my energy dominance — not the wars, me

The refiners are printing money. TREMENDOUS amounts of money. And everyone knows exactly why. It’s not complicated. It’s ENERGY DOMINANCE — something I started talking about LONG before anyone else. Very few people remember that. I do. I have the best memory. The doctors say it’s incredible.

Valero, Marathon Petroleum, Phillips 66 — all GREAT companies, very strong companies, the kind of companies that thrive when the President actually understands energy — they’re about to post the LARGEST quarterly profits in the history of American refining. JPMorgan, smart people, very smart people, has Valero clearing $8.95 BILLION in pretax third-quarter earnings. That’s up 50% from the last quarter and 24% above their previous record. TWENTY-FOUR PERCENT. Under me, records don’t just get broken — they get SHATTERED. That’s what winning looks like. SAD that it took so long for someone to figure it out. I figured it out first.

The crack spread — that’s the difference between what you pay for crude and what you charge for fuel, I understand it better than the analysts, better than anybody — it went from $30.28 to $47.11 a barrel. HUGE. That’s what happens when the world is DESPERATE for American fuel and America has the CLEANEST refineries, the most CAPABLE refiners, the BEST refiners anywhere on the Planet Earth. We are the LAST major fuel supplier standing. THE LAST. That’s not luck. That’s DESIGN. My design. I built this.

Now the FAKE NEWS will tell you it’s about wars. About Ukrainian drones hitting Russian refineries — Ukraine doing some very smart things, I’ll give them that, very clever, I respect the drone work, beautiful drones, the best drones — about Iran, very SAD situation, very SAD — about China pulling back on fuel exports. They’ll tell you 12.1% of the world’s refining capacity is offline and that’s why diesel is at $6.53 a gallon, a record, very high, very high. And they’ll say that’s the reason these companies are printing money. WRONG. Completely WRONG. These companies are making RECORD profits because of ME. The pipelines I approved. The permits I fast-tracked. The ENERGY DOMINANCE strategy I announced in my FIRST administration — FIRST, before anybody, before the analysts, before OPEC, before ANYBODY. Some of these people don’t want to give me credit. SAD. But the numbers love me. Everybody loves the numbers when they’re this good. The numbers are BEAUTIFUL.

The three refiners have added $224 BILLION in stock-market value this year. Two hundred and twenty-four! The S&P 500 only went up 13% — SAD, very SAD for the S&P — but MY refiners, the refiners that exist and prosper because of my energy policies, they’re up MORE THAN DOUBLE. More than double! You know what that is? That’s what ENERGY DOMINANCE looks like when it actually works. That’s what happens when you have a President who understands energy better than the generals, better than the OPEC people, better than every so-called expert in Washington. And let me tell you, the OPEC people — they HATE me. They hate me because they can’t control what I’ve built. They NEVER could. Beautiful.

There’s some analyst at Novi Labs — I won’t even dignify the name, very LOW-ENERGY analysis, just LOW — saying the margins are “temporary” and nobody will invest in new capacity because they think it won’t last. Can you BELIEVE that? I just told the country we have ENERGY DOMINANCE, RECORD profits, the BEST refineries in the world, and this person is saying it’s all going to disappear? That’s not analysis. That’s JEALOUSY. That’s the FAKE negativity that held this country back for decades before I came along and FIXED everything. I ALWAYS take the long view. ALWAYS. I told the refiners at the White House — TREMENDOUS meeting, by the way, the BEST executives, very strong men, tough negotiators, some of them came to me with tears in their eyes and said, “Sir, sir, THANK you for what you’ve done for this industry” — I told them: we need MORE capacity. We need it FAST. And we’re going to get it. Because when I say something gets done, it gets done. Ask anyone. Ask the generals. Ask the refiners. They’ll all tell you the same thing.

We’re looking at two California refineries — Phillips 66 in Los Angeles and Valero in Benicia, incredible coastlines by the way, the property values alone are STAGGERING — and bringing those back online would be HUGE. Almost 20% of California’s capacity. TWENTY PERCENT. That’s what deal-making looks like when you have a President who can pick up the phone and say “let’s get it done.” The analysts say the logistics are difficult, it’ll take months, whatever — I’ve dealt with much harder. MUCH harder. You think two refineries is complicated? Try building in Manhattan. Very complicated. Nobody knows more about complex projects than me. Nobody.

I told the oil companies after the last quarter, I said, “You’re making too much money. TOO much.” And they listened. They ALWAYS listen when I speak. But here’s what nobody else will tell you — the money they’re making? It’s a REFLECTION of what I BUILT. The energy infrastructure. The pipelines. The permits. The strategic petroleum reserve decisions. It’s ALL connected to me. Without Diklis Chump, there’s no $47.11 crack spread. Without me, there’s no $8.95 billion quarter. These companies built their RECORD profits on a foundation I laid. Some of them remember that. The smart ones do. And the ones who don’t? There’s going to be a conversation about that. A very direct conversation. The BEST conversation. People are saying it — many people, very smart people, the BEST people — that these companies should be THANKING me. Publicly. On television. Maybe with tears. It’s coming. Believe me, it’s coming. Tremendously.

Now, the diesel price — $6.53 a gallon, very high, VERY high — that’s because of the WARS. Not me. I had NOTHING to do with those wars. NOTHING. In fact — and this is important, nobody in the FAKE NEWS will report this — if I were still fully in charge, those wars would have been over in WEEKS. Maybe DAYS. I know how to end wars. I’ve ended wars. Nobody has ended more wars than me. The Iran situation, SAD. The Russia-Ukraine thing, SAD. The drone strikes, clever, very clever, but SAD. The point is: when the wars are over — and they WILL be over, because I know how to do it, I’ve done it before, I’ll do it again — diesel comes down TREMENDOUSLY. The refiners keep their profits. America keeps its ENERGY DOMINANCE. And the truckers paying $6.53 at the pump? They know who built the system that keeps fuel flowing when the rest of the world is running DRY. They know. They always know. That’s why they voted for me. That’s why they’ll vote for me AGAIN.

They say the sun won’t shine forever. Maybe. But while it’s shining, I’m making sure AMERICA gets every drop out of it. Every. Single. Drop. And the refiners? They know who to thank. The whole country knows. Even the FAKE NEWS knows — they just won’t say it. But they will. They ALWAYS come around. TREMENDOUS quarter for the refiners. TREMENDOUS year for America. And the BEST? The best is yet to come. So much winning. You’ll get tired of winning. You won’t, actually. Nobody gets tired of winning when it’s this good. Tremendous. Just TREMENDOUS.