U.S. President Donald Trump said, “We’re making money like this country has never made before,” in reference to the high cost of oil in 2026.
Trump made the statement during an Oct. 24 speech in Perry, Georgia, where he appeared at a rally in support of Republican candidates ahead of the midterm elections. His overall point appeared to be that the economy is growing in strength despite the current high price of gasoline, which he claimed would eventually come down.
A rumor that U.S. President Donald Trump brushed aside the high price of gasoline during a speech, instead boasting about how much money the country is making from oil, circulated in October.
People on social media, including someone who shared video clips, claimed Trump said, “We’re making money like we’ve never made before,” and “I don’t give a damn, I’m going to say it. We’re making a freaking fortune.”
The rumor spread as the midterm elections approached in the United States. Some readers also reached out to Snopes to verify the quote’s authenticity.
The quote was correctly attributed to Trump.
Trump made the statement during a speech on Oct. 24 in Perry, Georgia, where he appeared at a rally in support of Georgia Republicans ahead of the midterm elections. Georgia Public Broadcasting reported from the rally that “Trump announced that German automaker Audi will invest $4 billion in a new plant in Peach County,” of which Perry is a part.
Trump’s full speech can be viewed on Fox 5 New York’s YouTube, where the statement in question begins around the 1:30:45 mark.
Trump appeared to be making an overall point that the U.S. economy is growing — with the Audi deal as one example — despite the current high price of gasoline, which he claimed would eventually “come down.”
The president said (emphasis ours):
Our country is making hundreds of billions of dollars because of what’s happening in the Middle East. They’re coming to Texas, they’re coming to Oklahoma, and they’re coming to Louisiana, and they’re taking that oil. They’re making hundreds of billions, our country is, on oil. And then on top of it we have Venezuela, and we have Greenland. ‘Cause Greenland has a lot of oil. So, we’re making hundreds and hundreds of billions — trillions — of dollars. My people said, “Please don’t mention that, sir. Because people are paying a little higher.”
That number’s going to come way down, but what we’ve done for this country, we’re making money like this country has never made before. So I said, “Let me say it very gingerly, very softly…”
Because somebody will say, the fake news, “He’s bragging about making money while people are suffering!” You know, you’re still paying lower than Biden and Obama, and they [referring to Iran] don’t have nuclear weapons. But they’re going to be coming. I can just see the fake headlines.
“President Trump is talking about all the money they’re making while people are suffering at the pump.” That’ll be the headline. But I said, “I don’t give a damn, I’m going to say it.” We’re making a freaking fortune. Our country is getting stronger and stronger all the time. And those pump prices are going to come down.
Some media outlets delivered on Trump’s predicted mainstream headlines, with Newsweek running a piece titled “Trump Says He Doesn’t ‘Give A Damn’ About Gas Prices As US Making ‘Fortune’.”
According to AAA’s gas prices tracker, the average cost of regular unleaded gasoline across the U.S. was approximately $4.23 per gallon as of this writing.
AAA reported the highest national average for regular unleaded gasoline as $5.02 on June 22, 2022, during Joe Biden’s presidency. The highest national average for diesel was $6.53 on Sept. 22, under the current Trump administration.
