NEW: Diamondback Energy and Energy Transfer Rake in Billions in Profits as Prices at the Pump Break Records in States Across the Country

Americans have spent $32.7 billion more at the pump since the start of Trump’s war of choice in Iran 

Trump is making good on his promise to do Big Oil’s bidding while Americans pay the price 

Washington, DC – Today, Diamondback Energy announced its quarterly profits of $1.2 billion, up 140% since before the war. Energy Transfer, which is run by Trump’s billionaire donor, Kelcy Warren, also announced a 35% increase in profits since before Trump’s war, raking in $1.3 billion as Americans pinch pennies. Marathon Energy reported $487 million in profits, up 758% since last year. Meanwhile, several states, including Michigan and Wisconsin, have seen diesel prices spike to record highs. Trump promised his Big Oil donors that if they donated a billion dollars to his campaign, he’d make sure it was worth their while. Over the past two weeks, those same donors have been cashing in, announcing massive profits in their quarterly earnings reports. 

It’s not just his war of choice in Iran. From gutting clean energy competition to decimating pollution protections, Donald Trump has consistently prioritized his ultra-wealthy donors over the American people. With just six months until the midterm elections, the American people are tired of taking a backseat to Trump’s billionaire buddies. More than 70% of registered voters blame Trump for skyrocketing gas prices and his approval rating is at a record low. 

Climate Power Communications Director Alex Glass issued the following statement:

“Higher bills, higher gas prices, bigger profits for Big Oil—that’s the Republican record. Even before Trump’s war of choice, Americans were struggling to make ends meet. Now, as billions in oil and gas profits roll in, the split screen of who gets rich off of Trump’s policies and who pays the price couldn’t be more stark. American families are pinching pennies on everything from gas to electricity to groceries, while Trump’s wealthy donors are laughing all the way to the bank.”

Oil and gas companies are making billions while working families foot the bill with months of pain at the pump: 

• Trump’s war in Iran has already cost Americans $32.8 billion more at the pump.
• Gas prices have topped $4 per gallon, with the average American household expected to pay $740 more in gas this year.
• According to a CBS News poll, 51% of Americans said gas prices are posing a financial hardship or financial difficulty.
• The world’s top oil and gas companies made more than $30 million every hour in unearned profit during the first month of Trump’s war.
• The oil and gas industry gave $75 million to elect Trump.