From Salon · Troy Farah · · 1m 50s
Trump gets richer while gas prices soar
Trump's oil profits surge as gas prices hit record highs.
In brief
Trump's oil profits surge as gas prices hit record highs. Trump's oil and gas stocks grew to $61.1 million while diesel prices rose 70% since Iran war began. Originally reported by Salon.
Iran war sparks energy crisis
The U.S. faces a self-inflicted energy crisis largely caused by President Donald Trump's war against Iran.
Diesel prices surge 70%
Diesel prices have risen around 70% since February 28, hitting a record $6.52 on September 22.
16 trucking companies bankrupt
At least 16 trucking companies have been bankrupted in the last two months.
World's oil companies report $53bn profits
The five largest Western oil companies are expected to report combined third-quarter profits of $53 billion.
Trump's oil holdings grow
Trump owned as much as $45.6 million in oil and gas stocks in 2025, now worth $61.1 million.
Energy Secretary blames Ukraine
Energy Secretary Chris Wright blamed Ukraine for high oil prices and California's refinery closures.
Red diesel policy fails
The red-dyed diesel policy, exempt from highway taxes, is unlikely to lower prices due to technical issues.
Russia oil deal ineffective
Buying Russian oil won't lower prices as existing customers will seek alternatives.
Trump's energy strategy
The administration cancels renewable energy projects and expands fossil fuel extraction.
China's renewable surplus
China generates excess renewable energy, turning away enough to power Mexico for a year.
Trump's war benefits oil
Trump's war with Iran has boosted oil profits for the ultra-rich while prices rise.
Energy crisis deepens
The energy crisis threatens to clobber Republicans in the midterm elections.
No solution in sight
Neither the administration's strategy nor China's renewable approach has reduced prices.
The one thing
Trump's oil and gas stocks grew to $61.1 million while diesel prices rose 70% since Iran war began.
