Trump mocked for taking credit for Biden-era investment: 'He's having waking nightmares'

President Donald Trump was brutally mocked by political analysts and observers on Tuesday after he announced a new oil refinery would open in Brownsville, Texas.

Earlier in the day, Trump claimed that his administration had attracted a new $300 billion investment from an Indian oil company, Reliance, to build a new refinery. However, some analysts and observers noted that Trump appeared to take credit for an investment announced under the previous Biden administration.

The announcement was made at a time when global markets were reeling from the aftershocks of the U.S. and Israel's decision to bomb Iran earlier this month. On Monday, the price of a barrel of oil hit nearly $120. In the U.S., gas prices are up more than $0.40-cents across the nation since last week, according to data from AAA.

Political analysts and observers shared their reactions on social media.

"I love how you can tell that he's having waking nightmares about the volatility in the oil market and is trying to post through it," Jacob Weindling, editor-at-large for Splinter News, posted on Bluesky.

"This project began construction in 2024 and cost between $3-$4 billion, according to the company. The refinery capacity is 160,000 [barrels per day]," Patrick De Haan, head of petroleum analysis at GasBuddy, posted on X.

"Interesting. This company was named 'Element Fuel Holdings LLC' during the Biden years. Wonder why they changed it to a Trump slogan?????" Noah Sachtman, contributing writer for Rolling Stone, posted on Bluesky.

"If he actually cared about 'energy dominance,' he wouldn't be doing everything he can to cancel renewable energy projects," writer Thor Benson posted on Bluesky.