It’s no surprise that President Donald Trump thinks that the oil and gas business is more important than lowering gas prices: He’s the one making a fortune.
A new report published Monday by the Democrats on the Congressional Joint Economic Committee revealed that the value of Trump’s personal holdings in oil and gas may have increased by 43 percent in the last 10 months alone.
The president’s oil and gas holdings are currently worth between $22.5 million and $81.6 million. At the end of 2025, they were worth between $12.6 million and $46 million.
The report came out shortly after the president started bragging about how the energy prices hurting Americans are making him and his billionaire buddies rich.
“And while oil prices are temporarily high, and will be falling dramatically in a short period of time as soon as that war is over—because there’s so much oil,” he said to the crowd at a rally in Georgia on Saturday, referring to his war in Iran.
“The United States oil and gas business is making hundreds of billions of dollars.… Our country is making hundreds of billions of dollars ’cause of what’s happened in the Middle East … trillions of dollars.”
Meanwhile, the average price Americans are paying for gasoline under Trump has officially surpassed the average price during the Biden administration. Trump has repeatedly pledged to end his seven-month “six-week war” with Iran and lower gasoline prices to below $2 per gallon. But what reason does he have to end the war and lower prices when he’s openly admitting it’s in his financial interest to let Americans suffer? And what kind of message does this send to Americans ahead of the midterm elections, where Trump wants voters to pretend his name is on the ballot?