Trump’s Billionaire Oil and Gas Donors Are Getting Rich as Americans Face Months of Pain at the Pump 

Oil and Gas CEOs sold $1.4 billion worth of stocks as Trump’s war in Iran kickstarted a global energy crisis 

Washington, DC – While American families spend billions of dollars more on gasoline thanks to Donald Trump’s war in Iran, his oil and gas donors are raking in a multi-billion dollar windfall. Even if the conflict ends, experts agree that it will take months for gas prices to return to their pre-war levels. 

Trump celebrated skyrocketing oil prices, saying, “when oil prices go up, we make a lot of money” and we all know who he really meant by “we” (Spoiler: it’s not the American families who are pinching pennies just to make ends meet). For Trump, it’s billionaires first, American people last. 

Here are some of the oil and gas CEOs who are profiting as gas prices soar to record highs: 

• Chevron CEO Mike Wirth: $104 million windfall between January and March 
• ConocoPhillips CEO Ryan Lance: $54 million windfall in March alone
• Baker Hughes CEO Lorenzo Simonelli: $33 million windfall in March alone

REMINDER: Trump gathered oil and gas executives, including representatives from Chevron and ConocoPhillips, at Mar a Lago to ask for $1 billion for his campaign and promised to enact their wishlist on day one.

The Wall Street Journal: Oil CEOs Raked in Money From Trump’s Iran War

President Trump’s bombing campaign against Iran is yielding a windfall for some of America’s top oil executives. 

Executives sold stock worth $1.4 billion in the first quarter of the year as the share prices of Chevron, ConocoPhillips, Diamondback Energy and other oil-and-gas companies soared on the back of a historic shock to the world’s crude supplies, according to an analysis of insider-transaction disclosures from analytics firm VerityData.

Heated: Chevron’s CEO made $104 million while America bombed Iran

President Donald Trump has told Americans not to worry about the oil and gas price spikes caused by his war in Iran.

“The United States is the largest Oil Producer in the World, by far,” he wrote on Truth Social last month. “So when oil prices go up, we make a lot of money.”

But Trump didn’t specify who he meant by “we.” And as time has worn on, it’s become clear that he was only talking about a very small group of people.

A bombshell Wall Street Journal investigation published Wednesday reveals that America’s top oil and gas executives have been getting rich from the war at a historic pace. In the first three months of this year, oil CEOs sold $1.4 billion worth of their own stock—the fastest pace of selling in 15 years. At a dozen companies, the selling broke all-time records.

The Guardian: War in Iran is boosting profits for oil and defense companies as US gas prices soar

Two weeks into the US-Israel war with Iran, the White House was fielding heavy criticism that the conflict would drive up gas prices and frustrate voters. Donald Trump turned to Truth Social to appease Americans about gas prices, which were slowly climbing toward $4 a gallon.

“The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money,” he wrote.

Now five weeks into the war, as Americans struggle with soaring gas prices and the threat of higher inflation, it is becoming clearer who is making “a lot of money”: defense contractors and oil companies.

Reuters: Big Oil to reap billions from Iran war windfall after a month of soaring energy prices

As Big Oil executives gathered this week and discussed the biggest-ever disruption to global energy supplies due to the war in Iran, there was one impact they did not address publicly: the multibillion-dollar windfall they will make because of soaring prices for the energy they sell.