Trump says U.S. gained "millions and millions of barrels of oil" from Venezuela while defending high gas prices

Speaking to New York police cadets on Aug. 14, President Trump defended elevated gasoline prices as a necessary cost of preventing Iran from obtaining a nuclear weapon. He said Americans should accept $4-per-gallon fuel and pointed to large amounts of Venezuelan crude he claimed the U.S. gained after a quick military victory. He also said that once Iran is defeated he would declare the Strait of Hormuz U.S. territory. The remarks echoed his May comments that U.S. financial concerns were secondary to stopping Iran. Administration officials have said U.S. forces destroyed Iran’s nuclear program in June 2025. Iran’s deputy foreign minister rejected Trump’s statements, insisting Iran controls the strait and dismissing the threats. The exchange matters because it ties U.S. domestic fuel costs to Middle East policy and an ongoing military confrontation.