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Energy & Environment

Trump says U.S. oil companies making hundreds of billions from high prices

President Donald Trump said at a Georgia rally that U.S. oil and gas companies are profiting from higher oil prices tied to Middle East disruptions, dismissing concerns about rising gasoline costs for consumers.

Where
Georgia
When
Oct. 25, 2026
Sources
Reported by 2 outlets

Taxes and money

The sources don't state an effect on taxes. They do state these figures.

  • U.S. oil and gas revenues from high oil priceshundreds of billions of dollars1 2
  • Revenue growth for sample of 38 U.S. producers and refiners year-over-yearabout $140 billion2
  • Average price of regular gasoline in U.S.$4.29 per gallon2 Who pays or receives it: Consumers
  • Average price of diesel in U.S.$6.35 per gallon2

Does this affect you?

Who's involved

  • President Donald TrumpSpeaker at rally

The facts

  • Trump said U.S. oil and gas operations in Texas, Oklahoma and Louisiana are making hundreds of billions of dollars.1 2 Stated by 2 sources
  • Trump said higher oil prices result from disruptions to the Strait of Hormuz pushing oil buyers to American companies.2
  • AAA reported average regular gasoline price at $4.29 per gallon.2
  • AAA reported average diesel price at $6.35 per gallon.2
  • In February 2026, before U.S. and Israeli attacks on Iran, regular gas was $2.98 per gallon.2
  • Diesel prices were $3.75 per gallon a day before the conflict with Iran began.2

Who said what

These are statements and claims made by the people involved. They are reported, not verified.

  • Trump American oil advisers cautioned him against highlighting financial gains from high oil prices1
  • Trump Oil prices are temporarily high2
  • Oil & Gas Journal Surging crude prices tied to Strait of Hormuz disruptions fueled windfalls for North American oil companies2

How they headlined it

The same event, as each outlet put it. Marked words appear in only one outlet's headline.

  • Trump On Gas Prices: ‘I Don’t Give A Damn’

    VINnews

  • Trump on High Gas Prices: 'We're Making a Freaking Fortune

    Business Insider

Sources

Outlets: 1 left-leaning, 1 not rated Only left-leaning outlets reported this Who's covering Texas →

These outlets were found through Google News headlines. Google decides which outlets appear there, and they lean mostly one way, so this sheet can only be as balanced as the reporting it was built from. Leanings are AllSides Media Bias Ratings.

  1. Trump On Gas Prices: ‘I Don’t Give A Damn’ VINnews Not rated, October 25, 2026
  2. Trump on High Gas Prices: 'We're Making a Freaking Fortune Business Insider Lean Left, October 25, 2026

This sheet was written by AI from the sources above and adds nothing they don't state. Read the originals for full context.

Spot an error on this sheet?

All corrections and updates

Keep reading

Texas data center growth raises air quality and employment concerns

Texas faces trade-offs between air quality and economic growth from expanding data center industry. Houston Advanced Research Center analyzed how data center electricity demand could affect state air pollution and emissions, while economists report data center construction and operation are creating jobs for electricians, welders, and other skilled trades.

$110 million for annual pay per 100 megawatts of data center capacity

Houston Advanced Research Center, analyzed power generation impacts from data center growth; Maria Flynn, president and CEO of Jobs for the Future; Justin Sinkovich, faculty at Columbia College Chicago and 1 more

Reported by 2 outletsFound via Google News

Rio Grande water decline threatens border residents' livelihoods

A journalist and photographer documented how communities along the Rio Grande border are coping with the river's ongoing decline. The river has long pitted Mexico and the U.S. against each other over an international water treaty.

Jack Herrera, journalist and political enterprise reporter who traveled along the river; Jordan Vonderhaar, photographer

One outletFound via Google News

Elon Musk donates $442 million to Republican campaigns and groups

Billionaire Elon Musk has become the largest individual political donor in U.S. history, spending over $442 million on Republican campaigns and political groups ahead of the November 3 midterm elections. A significant portion of his donations has focused on the Texas Senate race between Republican Ken Paxton and Democrat James Talarico.

$442 million for political donations to Republican campaigns and groups

Elon Musk, Billionaire, SpaceX CEO, Tesla chief executive, political donor; Ken Paxton, Republican candidate for U.S. Senate, Texas state Attorney General; James Talarico, Democratic challenger for U.S. Senate

Reported by 2 outletsFound via Google News

Texas churches participate in Black Out Sunday voter turnout initiative

More than 2,000 churches across Texas joined the "Black Out Sunday" initiative on October 25 to encourage voter turnout during the 2026 midterm elections. The nonpartisan effort, organized by the African American Pastors Coalition of North Texas through IMPACT TEXAS 2026, exceeded its original goal of recruiting 1,000 churches.

African American Pastors Coalition of North Texas, organizer of Black Out Sunday initiative; Rev. Richie Butler, president-elect of the coalition and senior pastor of St. Luke Community United Methodist Church in Dallas; Rev. Parish Lowery, leader at Greater Friendship Missionary Baptist Church in Fort Worth and 2 more

Reported by 2 outletsOnly left-leaning outlets reported thisFound via Google News

Texas election officials explain suspense voter status and ballot markings

Election officials in Bexar County and Harris County explained how suspense voter status works and clarified that ballot initials and signatures are standard legal practice. Suspense status means officials need to confirm or update a voter's address, not that the voter has been removed from rolls.

Bexar County Elections Department, Election officials explaining suspense status; Harris County Elections Department, Election officials addressing ballot marking concerns; Teneshia Hudspeth, Harris County Clerk

Reported by 2 outletsFound via Google News

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