NEW: TotalEnergies is Raking in Profits as Trump’s War of Choice Continues to Send Gas Prices to Multi-Year Highs
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Americans have spent $28.6 billion more at the pump since the start of Trump’s war
Trump is making good on his promise to do Big Oil’s bidding while Americans pay the price
Washington, DC – Today, TotalEnergies announced its quarterly earnings of $5.4 billion, up 41% since before Trump’s war of choice sent gas prices through the roof. Earlier this year, Trump paid TotalEnergies a billion taxpayer dollars to stop them from building offshore wind projects that would have powered millions of homes and protected Americans from global energy shocks.
During his 2024 campaign, Trump gathered oil and gas executives at Mar-a-Lago and made them a “deal”: if they donated a billion dollars to his campaign, he’d make it worth their while. And just yesterday – rather than focusing on how to lower costs for the American people – Trump held yet another closed-door meeting with the people he actually cares about: the oil and gas executives who are raking in massive profits from his war of choice. 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 $28.6 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.