The devastating conflict in Iran, a direct consequence of Trump's aggressive foreign policy, is lining the pockets of Big Oil executives while jeopardizing the planet's future and squeezing working-class families already struggling to make ends meet. The resulting energy shock, caused by attacks on fossil fuel infrastructure and the strategic blockage of the Strait of Hormuz, has sent energy prices skyrocketing, leading to record profits for corporations like ConocoPhillips, Valero Energy, and Liberty Energy, the latter formerly headed by Trump's own Energy Secretary, Chris Wright.

ConocoPhillips, for example, saw an 84% profit surge, raking in $2.3 billion in the first three months of 2026 alone. Valero Energy boasted $1.2 billion in quarterly profits, far exceeding expectations. Liberty Energy, a company directly tied to the Trump administration, experienced a 32% increase in earnings. BP also reported profits doubling during the year's first quarter.

While these corporations celebrate their newfound wealth, ordinary Americans are suffering at the pump. Gas prices have soared to $4.52 per gallon, the highest level since July 2022, placing an unbearable burden on working families who rely on their vehicles to get to work, school, and essential services. The cost of goods and services, already inflated by corporate greed, is further compounded by these rising energy costs, pushing more families into poverty.

Kelly Mitchell, executive director of Fieldnotes, a watchdog organization, rightly points out the cruel irony: “The reason why oil companies are doing so well right now... is exactly because Americans are hurting.” These corporations are profiting directly from the pain and suffering of the American people.

Representative Sean Casten, a Democrat from Illinois, highlights the Trump administration's blatant favoritism towards the oil industry, pointing to the repeal of the Biden-era ban on liquefied natural gas (LNG) exports as a key example. This policy, designed to benefit oil producers, has directly contributed to higher gas prices for American consumers. “If you are a US oil producer, you are really happy right now, and if you’re a US oil consumer, you’re really not,” Casten notes. He is correct, there are far more oil consumers than producers, and this White House is actively ignoring the needs of the overwhelming majority of Americans.

Lukas Shankar-Ross, a deputy director at Friends of the Earth, warns that these “windfall profits from Trump’s war will allow big oil to build a wall of money around its Trump-era political victories.” This influx of cash will enable the industry to further entrench its political power, lobbying against climate regulations and perpetuating the cycle of fossil fuel dependence.