Sen. Mark Kelly (D-Ariz.) accused President Donald Trump of financially benefiting from rising oil and gas stock values while American families face higher gasoline prices, raising questions about the president’s financial interests amid mounting energy costs.
Kelly Slams Trump Over Oil and Gas Profits
On Monday, in a post on X, Kelly criticized Trump over his reported investments in the oil and gas sector, contrasting the president’s financial gains with the growing burden of fuel costs on American households.
“While you’re paying more at the pump, Trump is getting richer off his oil and gas stocks,” Kelly wrote.
He added, “He always finds a way to profit while making life harder for working families.”
Trump’s Oil and Gas Holdings Gain Millions
Last month, CBS News reported, citing an unreleased report by Democratic lawmakers on the Congressional Joint Economic Committee, that Trump’s oil and gas stock holdings were worth between $22.5 million and $81.6 million, marking an average increase of 43% since the end of 2025.
His largest reported positions included ExxonMobil Holdings Corp. (NYSE:XOM) and Chevron Corp. (NYSE:CVX).
The report also said Trump had purchased up to $17.5 million in oil and gas stocks between March and August 2026 while selling as much as $5.4 million during the same period.
Sen. Elizabeth Warren (D-Mass.) had criticized Trump in August, claiming his oil investments had gained more than $15 million since the Iran war began.
Newsom and Sanders Slam Trump Over Big Oil Profits
Last weekend, Gov. Gavin Newsom (D-Calif.) and Sen. Bernie Sanders (I-Vt.) criticized Trump, accusing him of benefiting Big Oil as companies like ExxonMobil, Chevron and Shell reported surging profits amid the Iran war.
Newsom’s press office said ExxonMobil’s adjusted earnings had climbed 130% to $17.5 billion, while Chevron’s quarterly profits had jumped 185% to $10.4 billion.
Sanders said gas prices had risen 39% since Trump started the Iran war, while ExxonMobil’s profits had increased 130%, Chevron’s had climbed 185% and Shell’s had nearly doubled.
He accused Big Oil of exploiting working families and criticized Trump’s response to windfall profits, quoting the president as saying, “I don’t give a damn.”
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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