Elizabeth Warren Blasts ‘Trump Math’ as Oil Giants That Put $5 Million Into His Inauguration Fund See '$23 Billion in Excess War Profits’
Key takeaways
- Sen. Elizabeth Warren blasts President Trump for helping oil companies report windfall profits amid the war with Iran.
- National average price for a gallon of gas: $4.0091/gallon
- Californians' average price for a gallon of gas: $5.5955/gallon
- Excess war profit: $23 billion
What happened
Sen. Elizabeth Warren criticized President Donald Trump for helping oil companies report windfall profits amid the war with Iran, citing a $23 billion excess war profit.
Why it matters
Warren accused Trump of benefiting oil companies, which invested $5 million in his inauguration fund, and demanded that they return the money to consumers.
Short-term and longer-term
Short-term. The recent surge in oil prices and windfall profits for oil companies amid the war with Iran raises questions about the impact of Trump's policies on the energy market and the potential for future price increases.
Longer-term. The high gas prices in the U.S. are a result of the windfall profits reported by oil companies, which invested $5 million in Trump's inauguration fund and saw $23 billion in excess war profits.