NEW: Trump’s Big Oil Donors Continue to Rake in Profits as Americans Pinch Pennies at the Pump
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The average national price of diesel is inching towards a record high, raising the cost of everything from groceries to package shipping
Trump is making good on his promise to do Big Oil’s bidding while Americans pay the price
Washington, DC – Oil and gas companies continue to make bank off of Donald Trump’s war of choice in Iran, with Devon Energy, EOG Resources, Equinor, and Occidental Petroleum all announcing increased profits since before the war. On the campaign trail in 2024, Trump held a closed-door meeting with his Big Oil donors — including Occidental Petroleum — and promised to enact their wishlist while asking them to donate a billion dollars to his campaign. Yesterday, Occidental announced their profits had increased a whopping 240% since before Trump’s war of choice, raking in $1 billion as everyone else struggles to make ends meet.
While Trump’s billionaire donors capitalize on the global economic crisis, everyday Americans are left to foot the bill. Gas prices have topped $4.50 per gallon, with the average American household expected to pay $740 more in gas this year.
Climate Power Communications Director Alex Glass issued the following statement: “As oil and gas profits continue to roll in, the split screen in Trump’s economy couldn’t be more stark: Americans are choosing between filling up their tanks and paying their medical bills while ultra-wealthy oil and gas executives laugh all the way to the bank. From gutting pollution protections to taking a sledgehammer to their clean energy competition, Trump has delivered on his promise to Big Oil and left American families to pay the price.”
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 $33.5 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.