Trump to Host Big Oil CEOs as Gas Price Average Remains Over $4 a Gallon

President Trump plans to meet with oil industry executives at the White House this week, even as the average price of gas stays above $4 a gallon. The meeting comes after major oil companies reported a combined $85.2 billion in profits for the second quarter of the year, a windfall that came largely from an oil price spike tied to war overseas rather than from any increase in production or new technology. Trump himself has publicly criticized oil companies for keeping gas prices high while posting record profits.

In response, the Sierra Club is pushing for a windfall profits tax proposed by Congressman Ro Khanna and Senator Sheldon Whitehouse. The idea is to claw back a share of the extra profits oil companies collect during a global crisis and return that money to the people paying higher prices at the pump. The group's policy director argued that families are absorbing higher costs from a war they didn't choose while the largest oil companies turn the situation into a payday, and called on Congress to hold the industry accountable.

For homeowners, this is mainly a story about the politics around gas prices rather than a program you can use right now. There's no rebate or credit here tied to your house. If gas costs are pinching your budget, it's worth remembering that reducing how much gasoline you use isn't the only lever available. Home energy costs, like heating and electricity, are separate from what's happening at the pump, and various efficiency and electrification incentives may still apply depending on where you live.