by Winston Wendell
October 20, 2026
As the American consumer fills up his or her gas tank, the credit card is charged with a new pain. Gasoline prices jumped almost 40% during the last year, diesel is at the verge of an all-time high. As working families tighten their belts, executives in the petroleum industry fill up their wallets.
The root cause for this economic shock is none other than the President Trump himself. President’s warmongering policy towards Iran has created a severe supply shock in the world’s oil markets, spiking up the prices with devastating consequences. Ordinary Americans are the ones who bear the brunt of the impact.
When it comes to the fallout from a Trump foreign policy, the public is becoming increasingly dissatisfied, with over 60% of voters approving of the job Donald Trump is doing in relation to energy costs.
While working families sacrifice to make ends meet, executives in the oil industry are enjoying the record-breaking profits. With oil prices hitting the roof, the profits of the refining giants have skyrocketed.
Such is the state of things in the Trump’s America, where the president does not care to make a distinction between the public and the profiteering elite. In pursuing his warmongering agenda, Trump has demonstrated the true colors, favoring the wealthy and powerful at the expense of the public.
Key Earnings Highlights (Q2 2026)
- ExxonMobil: Reported a profit of $14.5 billion.
- Chevron: Recorded $12 billion, marking one of its highest quarterly profits on record.
- Shell: Posted $9.8 billion, more than doubling its earnings compared to the same period in the previous year.
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