House Democrats just zeroed in on a way President Donald Trump has profited from a major pain point for Americans: gas prices.
A new report from Democrats on the Joint Economic Committee spotlights recent financial disclosure forms showing that over the past year, Trump’s brokers made massive investments in oil companies that are being enriched as his war with Iran has sent oil and gas prices soaring.
The Joint Economic Committee – Minority finds that so far this year, President Trump saw his wealth go up by as much as $15.5 million just through stocks he owned in oil and gas companies at the end of 2025. These companies’ profits and stock values are rising because Trump’s reckless war in Iran has caused gas and oil prices to skyrocket. The Committee finds that President Trump owned as much as $45.6 million in oil and gas company stocks in 2025, a portfolio that is now worth as much as $61.1 million given the surge in oil and gas stocks driven by Trump’s war in Iran.
Remember: Trump has said he’ll “never apologize” for his war causing Americans to pay higher gas prices — which he personally stands to benefit from. That’s certainly something for voters to think about as the midterms approach.
Each passing day seems to bring a new story about the negotiations with Iran either stalling or falling apart. This has given Americans every reason to believe the Trump regime is too incompetent to negotiate an end to this deadly war and its catastrophic economic impacts.
Incompetence certainly seems to be at play — but so do perverse incentives. After all, the president has openly boasted about how the war has benefited companies that his family and donors have invested in, including ones in the defense industry.
Last week, I wrote about Trump’s announcement of tariffs on foreign-made drones and how it immediately boosted the stock price of a drone developer his oldest son has invested in. I noted how recent evidence we’ve seen — such as polling data and outrage from MAGA-aligned influencers — suggests that the president’s self-enrichment in office has become a growing political liability for him and his party.
The fact that Republicans seem desperate to deflect or ignore this shameless self-dealing only illustrates how politically toxic it is. And that liability stands to grow in the coming months, as Americans will likely continue to look at stubbornly high gas prices with the knowledge that the president’s pockets are being lined.
We should all keep this in mind the next time we hear Republicans deploying scare tactics about Democrats being “socialists” or “communists” — because the GOP has been launching these attacks while the country’s wannabe king has been on an apparent mission to convert the U.S. into a petrostate that he and his allies can benefit from.
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