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Trump's oil boast has cringing industry execs running for cover: report
The only entities making money due to higher oil and gas prices are the US oil companies. Regular people are NOT benefiting from higher oil and gas prices. trump's attempt to spin the benefits of higher gas and oil prices are pissing off the oil companies who really do NOT want US consumers to focus on the fact that they are paying for these oil companies' excess profits and earnings.
Trump's boastful Truth Social post about oil industry profits has created an embarrassing moment for energy executives who desperately want those windfall gains to remain out of public view.
— Raw Story (@rawstory.com) 2026-03-13T20:36:06Z
https://www.rawstory.com/trump-oil-2676098825/
Trump's boastful Truth Social post about oil industry profits has created an embarrassing moment for energy executives who desperately want those windfall gains to remain out of public view.
As crude oil prices settled around $95 per barrel—far above the industry's preferred $60 threshold—Trump declared on Truth Social: "The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money."
The post crystallizes an uncomfortable reality for oil companies: they are profiting handsomely from war-driven price spikes while consumers face soaring gas prices at the pump. Since the Iran war began, crude prices have surged nearly $30 per barrel or more. Oil executives now face a public relations nightmare.
"The idea that the industry profits from war and death is not one a VP of public relations wants to promote," said Mark Jones, political science fellow at Rice University's Baker Institute.
Industry sources reacted with dismay. "Oh, boy...." one oil executive responded when shown Trump's post.
Trump's statement feeds directly into public perception that oil companies are deliberately gouging consumers. Another industry official, speaking anonymously, acknowledged the damage: "This highlights the complicated relationship the oil industry has with the president. There is also some notion that the oil and gas industry secretly works to raise prices, which is a fundamental misunderstanding of how the industry works."
As crude oil prices settled around $95 per barrel—far above the industry's preferred $60 threshold—Trump declared on Truth Social: "The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money."
The post crystallizes an uncomfortable reality for oil companies: they are profiting handsomely from war-driven price spikes while consumers face soaring gas prices at the pump. Since the Iran war began, crude prices have surged nearly $30 per barrel or more. Oil executives now face a public relations nightmare.
"The idea that the industry profits from war and death is not one a VP of public relations wants to promote," said Mark Jones, political science fellow at Rice University's Baker Institute.
Industry sources reacted with dismay. "Oh, boy...." one oil executive responded when shown Trump's post.
Trump's statement feeds directly into public perception that oil companies are deliberately gouging consumers. Another industry official, speaking anonymously, acknowledged the damage: "This highlights the complicated relationship the oil industry has with the president. There is also some notion that the oil and gas industry secretly works to raise prices, which is a fundamental misunderstanding of how the industry works."
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