Today, Donald Trump is hosting major oil executives at the White House as his deadly and costly war with Iran rages on, driving up global oil prices. Trump’s wealth has increased by as much as $15.5 million solely through stocks he owned in oil and gas companies at the end of 2025. Big Oil companies have reported windfall earnings of $125 billion in profits this year, including America’s two largest oil corporations: $12 billion for Chevron in the second quarter of this year alone, and $14.7 billion for ExxonMobil. The last time Trump hosted oil executives at the White House was to beg them to invest in Venezuelan oil.
Meanwhile, for the first time ever, the national average price for a gallon of gas was above $4 every day in August. Americans have already spent an additional $72 billion on gas since Trump’s war began — approximately $604 per household.
Reminder: Trump promised Big Oil executives that he would reward them if they donated $1 billion to his campaign during the 2024 election.
In response, DNC Rapid Response Director Kendall Witmer released the following statement:
“Donald Trump and Big Oil companies are raking in millions of dollars off Trump’s deadly and costly war with Iran while everyday Americans pay the price. As Trump cozies up to billionaires and big corporations, working families are footing the bill for Trump’s war and stretching their budgets to afford high prices at the pump and the grocery store. Trump couldn’t make it more obvious that his administration is working for his wealthy donors while everyone else gets left in the dust.”
