Trump cheers as 'worst corporate heist in years' drains Americans' wallets: analysis

President Donald Trump has openly cheered what independent journalist Ken Klippenstein described as the “worst corporate heist in years,” one that has elevated the costs of everything from groceries to airfare.That “heist,” as Klippenstein referred to it, was the oil industry’s record-high profits that have continued even as Middle East oil exports have since climbed back to pre-Iran war levels, as reported this week by the Financial Times.“We were told the high prices was just a fact of life since the Strait of Hormuz was closed. It was bull---- then, as I tried to warn months ago,” Klippenstein wrote in an analysis published Thursday on his Substack. “Now it’s even harder to deny.”As flagged by Klippenstein, the oil industry’s margin on diesel — known as the diesel crack spread — has “exploded” in recent months, climbing from $33 a barrel in February to a record-high $106 in September. Oil executives...