Warren Slams Trump Over Oil Profits Amid Iran War
Senator Elizabeth Warren (D-Mass) recently took aim at President Donald Trump's economic policies, accusing him of helping oil companies reap massive profits from the war with Iran. According to data, oil companies invested $5 million in Trump's inauguration fund, and then saw their profits skyrocket to $23 billion. Warren pointed out that this windfall comes as gas prices continue to soar, with the national average price for a gallon of gas at $4.0091.
The Massachusetts senator also criticized Trump's handling of the Strait of Hormuz, saying that it is 'open' despite Iran demanding compensation and sanctions relief. Warren called out the high costs of gas at the pump, citing an increase of $857 compared to last year. This phenomenon has been dubbed 'Trump math' by critics.
Not everyone agrees with Warren's assessment. GasBuddy analyst Patrick De Haan said that gas prices in the US could surge as uncertainty looms over the Strait of Hormuz after the Iranian government demanded compensation and sanctions relief. Meanwhile, Trump insisted that the US remains in control of the waterway.