President Trump said at a Georgia rally that US oil and gas companies are making hundreds of billions of dollars due to shipping disruptions in the Strait of Hormuz caused by his war with Iran, while dismissing concerns about high gas prices for Americans.
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.
Oil and gas company profitshundreds of billions of dollars12
Year-over-year revenue increase for 38 U.S. oil producers and refiners$140 billion2Who pays or receives it: 38 U.S. producers and refiners
Who's involved
President Donald TrumpSpeaker at rally
The facts
Trump said US oil and gas companies are making hundreds of billions due to Strait of Hormuz disruptions.12Stated by 2 sources
Trump said oil companies in Texas, Oklahoma, and Louisiana are benefiting from the situation.12Stated by 2 sources
Regular gas averaged $4.29 per gallon nationwide on Oct. 26, 2026, compared with $2.98 in February.2
National average diesel reached $6.35, up from $3.75.2
Oil & Gas Journal reported 38 U.S. producers and refiners upped year-over-year revenue by $140 billion.2
Who said what
These are statements and claims made by the people involved. They are reported, not verified.
Trump Oil prices will fall dramatically in a short period of time.1
Trump High gas prices expected to be detrimental to Republicans in November 3 midterm elections.1
Iranian officials Ready to face another round of US-Israeli strikes; retaliatory attacks will be much heavier.1
How they headlined it
The same event, as each outlet put it. Marked words appear in only one outlet's headline.
Trump Says US Oil Companies Are Making a ‘Fortune’ Due to the Iran War
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.
SAP selected Addison to consolidate its North Texas operations, merging approximately 1,000 employees from offices in Plano and Allen into Spectrum Center. The facility will house regional business operations, software development, and a customer experience center, becoming operational in mid-2027.
$up to $500,000 for capital investment grant
SAP, enterprise software company relocating North Texas offices; Michael May, Managing Director for SAP's U.S. South Market Unit; Wayne Emerson, Addison's director of economic development and 2 more
Schneider Electric received the Woody L. Hunt Excellence in Economic Development Award from the Borderplex Alliance at a luncheon Thursday. The global energy technology company operates its largest U.S. manufacturing campus in El Paso and announced plans to open a sixth facility there early next year.
$more than $700 million for investment in U.S. operations
Schneider Electric, award recipient; Borderplex Alliance, award-giving organization; Diego Faria, leads Schneider Electric's El Paso operations and 2 more
New Era Energy & Digital signed a securities purchase agreement for a private placement of 23,272,727 shares at $2.75 per share, raising approximately $64 million gross proceeds to advance its Texas Critical Data Centers project.
$US$64 million for private placement gross proceeds
New Era Energy & Digital, company conducting private placement; Charlie Nelson, CEO of New Era
A WalletHub study comparing all 50 U.S. states across 34 job-market and economic metrics ranked Texas as the eighth-best state for jobs. The analysis evaluated factors including unemployment, employment growth, median annual income, job security, employee benefits and average commute time.
Vice President JD Vance announced a USDA loan guarantee for a new beef processing facility in Dimmitt, Texas. The facility is backed by a $24.6 million commercial loan and is expected to create 220 new jobs.
$$24.6 million for commercial loan for beef processing facility
JD Vance, Vice President; Brooke Rollins, Secretary of Agriculture; Ken Paxton, Republican Senate nominee and 1 more
Gas prices in Texas dropped for the fourth consecutive week as of late October 2026. October 2026 is tracking as the most expensive October on record for Texas gas prices.
AAA Texas, monitoring and reporting gas prices; Daniel Armbruster, spokesperson for AAA Texas
SEG Solar announced it signed a land agreement for a $950 million, 4 GW heterojunction solar cell plant at its Tomball Industrial Campus near Houston. The facility is expected to create more than 700 local jobs and come online in two phases targeted for 2028 and 2029.
$$950 million for facility investment
SEG Solar, solar manufacturer announcing facility plan; Jim Wood, chief executive officer of SEG Solar
Governor Abbott announced Skills Development Fund grant awards totaling $1,726,092 to Houston City College and Workforce Solutions Lower Rio Grande Valley for customized job training in high-demand occupations.
$$1,726,092 for skills Development Fund grant awards
Governor Greg Abbott, Governor; announced the grants; Texas Workforce Commission, Administrator of the grants; Joe Esparza, TWC Chairman; presented awards and 11 more