Analyst Slams Trump’s Energy Promises, Strait of Hormuz Claims: ‘A Painful New Record…’

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Wealth management firm Creative Planning's Chief Market Strategist Charlie Bilello has criticized President Donald Trump, accusing him of failing to deliver on campaign promises and claims, including lower gas prices.

A 'Painful' New Reality for Americans

In a series of posts on X on Monday, the analyst delivered sharp criticism of Trump. "For the first time in history, the national average price of gasoline was above $4.00/gallon every single day in August," he said. Bilello added that the growing gas price was a "painful new record for American drivers."

Movement Of Oil

Bilello also pointed to Trump's comments about the movement of oil through the Strait of Hormuz. Quoting Trump, Bilello shared how Trump said the U.S. had been "averaging 30 ships a night" through the waterway. "That's a lot. And a lot of oil's coming out," he shared Trump's comment.

Bilello, however, shared a chart showing a sharp decline in crude-oil shipments through the Strait of Hormuz since the war began. Notably, Energy Secretary Chris Wright had also said that oil was moving through the waterway with the help of the U.S. military.

Rising Costs Of Various Commodities

The analyst, in a separate post, outlined the rising energy costs, as well as crude oil, diesel and more. He shared Trump's quotes in his posts. "Under my administration, we will be slashing energy and electricity prices by half within 12 months, at a maximum 18 months," he shared, pointing to Trump's comments from August 2024.

"I’m not going to start a war. I’m going to stop wars," he shared, quoting Trump from November 2024. "During every single day of the administration, I will, very simply, put America first," highlighting Trump's comments from January last year.

"I view the Strait of Hormuz as an American territory right now. It’s an American territory," he said, referring to the comments the President made in August this year. Bilello's statistics pointed to a 24% increase in Brent crude prices, as well as a 28% and 37% surge in WTI Crude and Gas prices since the end of February, respectively.

Bilello also pointed to the growing cost of diesel. Diesel prices surged 49% since the start of the war, while jet fuel prices were up 53%. European natural gas costs also rose 120% since the war kicked off, according to the data shared by the analyst.

Iran War

Tensions escalated recently between Tehran and Washington after the U.S. launched missile strikes as Iran was reportedly preparing to launch rockets carrying sea mines near the Strait of Hormuz.

Iran, in response to the attacks, targeted U.S. bases in Jordan. Earlier, Trump had touted an "Economic D-Day" for Iran and imposed sanctions on the country. The move received heavy criticism from Tehran, which said that it was systemic "bullying" and disregarded international law.

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Analyst Slams Trump’s Energy Promises, Strait of Hormuz Claims: ‘A Painful New Record…’

Get Market Alerts

A 'Painful' New Reality for Americans

Movement Of Oil

Rising Costs Of Various Commodities

Iran War

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