Trump’s Failed Energy Policies Help His Big Oil Allies Rake in Record Profits

Contact: Samah Shaiq

Today, BP released their second-quarter earnings, providing fresh evidence that, while Americans have been paying historically high prices at the gas pump, Big Oil is continuing to rake in record profits at their expense. This comes on the heels of announced earnings by several companies over the last few days, including Shell, Chevron, and Exxon, whose profits significantly increased and even doubled in some cases. In response, Evergreen Action Executive Director Lena Moffitt released the following statement:

“Trump’s energy agenda is lining the pockets of Big Oil while American families have paid over $78 billion more at the pump since the start of his illegal war with Iran than they would have without this war. We shouldn’t be surprised that the same companies that struck a $1 billion quid pro quo to help elect Trump in exchange for delivering on their policy wish list are now cashing in on his anti-consumer agenda.

“Trump’s actions since returning to office are forcing families to pay over $4 a gallon for gasoline—an obvious betrayal of his repeated promise to cut energy prices in half. He built his energy agenda to benefit the oil and gas industry—from handing out tens of billions in new tax breaks to sabotaging their clean energy competition, the fastest-to-build and cheapest new power that would have lowered bills. Americans deserve leaders that will fight to reduce their financial burdens, not boost corporate profits. With each attack on clean energy, Trump hands Big Oil another win while American families continue footing the bill.”

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