Former President Donald Trump pledged that, if elected, he would slash energy costs by 50% within a year of taking office.

At a town hall event in Oaks, Pennsylvania, on Monday, Trump addressed the audience, promising to lower energy prices by half during his first year back in the White House.

He also emphasized that the U.S. has abundant energy resources that are currently underutilized, pointing out that the country is even importing “energy from Venezuela.”

“And, when we get everything else down — houses — everything’s going to come, it’s going to be beautiful. You’re going to have a house,” Trump told the crowd. “Just wait a little while, give me a little while, let me get in. One year from January 20th, we will have your energy prices cut in half all over the country.”

Trump has reiterated this promise in the past, stating that, if re-elected, his administration would cut energy and electricity prices in half within 12 months, with a maximum timeline of 18 months.

A report by S&P Global in July 2024 revealed that from 2018 to 2023, household electricity prices in the U.S. surged by 21.9%.

Some states, including California, Connecticut, Massachusetts, Maine, and New Hampshire, experienced the sharpest increases in energy costs over that period.

{Matzav.com}