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Economy & Jobs

Trump says US oil companies profiting from Iran war disruptions

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 dollars1 2
  • Year-over-year revenue increase for 38 U.S. oil producers and refiners$140 billion2 Who pays or receives it: 38 U.S. producers and refiners

Does this affect you?

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.1 2 Stated by 2 sources
  • Trump said oil companies in Texas, Oklahoma, and Louisiana are benefiting from the situation.1 2 Stated 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

    Antiwar.com

  • Trump boasts oil companies are making 'a freaking fortune' while Americans pay $4.29 a gallon

    The Cool Down

Sources

Outlets: 2 not rated 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 Says US Oil Companies Are Making a ‘Fortune’ Due to the Iran War Antiwar.com Not rated, October 25, 2026
  2. Trump boasts oil companies are making 'a freaking fortune' while Americans pay $4.29 a gallon The Cool Down Not rated, October 26, 2026

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

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All corrections and updates

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SAP consolidates North Texas offices to Addison with 1,000 employees

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

Reported by 2 outletsFound via Google News

Borderplex Alliance honors Schneider Electric with economic development award

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

Reported by 2 outletsFound via Google News

New Era Energy & Digital raises $64 million in private stock placement

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

Reported by 2 outletsFound via Google News

WalletHub study ranks Texas eighth-best state for jobs

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.

WalletHub, conducted study; Chip Lupo, WalletHub analyst

Reported by 3 outletsFound via Google News

USDA announces loan guarantee for beef processing facility in Texas

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

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

SEG Solar secures land for planned $950 million solar cell facility in 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

Reported by 2 outletsFound via Google News

Abbott announces $1.7 million job training grants to Houston and Rio Grande Valley

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

Official record and 5 moreFound via Google News

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