NEW: Energy Secretary Chris Wright’s Former Company Profited Off Trump’s War While Americans Continue to Pay More at the Pump
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Trump is making good on his promise to boost Big Oil while Americans pay the price
Oil and gas companies could reap a $60 billion windfall from the “Trump Oil Shock,” which generated more than $30 million in profit every hour during the first month of the war.
Washington, DC – Liberty Energy, a company founded and formerly run by Trump’s Energy Secretary Chris Wright, announced its quarterly earnings of $10 million, up 32% from Q4 of 2025 before Trump’s war of choice. On top of this, Liberty Energy paid no federal corporate income taxes last year. Trump promised his Big Oil donors – including Chris Wright and Liberty Energy – that he would enact policies to bolster their bottom line at the same event where he asked for $1 billion in campaign donations. Trump’s war of choice in Iran, attacks on clean energy investments, and decimation of pollution protections have all been in service of Big Oil’s agenda—and have all produced massive windfalls for his wealthy oil supporters. This week, Energy Secretary Chris Wright told the Senate Energy and Natural Resources Committee that they “knew exactly what would happen” if the Strait of Hormuz closed.
While Trump’s billionaire buddies capitalize on the global economic crisis, everyday Americans are left to foot the bill. Gas prices have topped $4 per gallon, with the average American household expected to pay $740 more in gas this year. From the gas pump to utility bills, Trump’s energy policies are pinching the wallets of working families while padding the pockets of his ultra-wealthy pals.
Climate Power Communications Director Alex Glass issued the following statement:
“Americans are paying more at the pump while Big Oil cashes in. Trump promised lower costs — instead, he’s putting billionaires first and leaving working families to foot the bill.”
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 $25 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.