Elizabeth Warren says oil execs warned Trump Iran war may cause economic destruction for US families

WASHINGTON, DC: Sen Elizabeth Warren (D-Mass) claimed Wednesday, March 18, that oil executives had cautioned President Donald Trump about the potential fallout from US military operations in Iran. 

The Massachusetts Democrat posted on X, “Even oil executives are warning Donald Trump that his war with Iran could cause ‘economic destruction’ for American families.”

This comes amid reports of behind-the-scenes concerns from energy industry leaders as the conflict disrupts global oil markets. A Daily Beast report detailed that “oil executives have secretly warned Trump that the spiraling energy crisis created by his war in Iran is about to get even worse.”

Elizabeth Warren says Trump will cause 'economic destruction'

Warren posted an accompanying video to her Senate website and social channels.

"This could cause economic destruction. Those aren't my words. They are actually from an oil executive," she said in the clip. "That's right, even oil executives are warning that Trump's war in Iran could cause economic destruction. And you know what? This is not a surprise to any American who has tried to fill up their gas tank recently."

"The latest reporting shows that gas prices are up 27% just since last month, all because of Donald Trump, the guy who campaigned on no new wars and lower costs. Americans voted for lower costs, not higher prices and another forever war in the Middle East," Warren added.

The senator has repeatedly tied the Iran conflict to rising consumer costs since operations began earlier this year.

In earlier statements, she argued that “American households are struggling to afford groceries, housing, health care, child care, and electricity. And now the price of gas is increasing because of Trump’s war in Iran.” She added that “Trump has broken his promises, and working Americans are paying the price.”

Administration officials have described the military actions as targeted responses to Iranian threats, with initial estimates from the Congressional Budget Office indicating that early-week costs alone exceeded $12 billion.

Warren and other Democrats have opposed a reported $50 billion supplemental funding request for the effort.

Democrats tie gas prices and supply chains to policy choices

Disruptions in the Strait of Hormuz and related shipping routes have contributed to volatility in oil prices. Warren’s Senate office pointed to fertilizer supply chain interruptions as an additional risk, warning of higher grocery prices and global food insecurity.

Sens. Sheldon Whitehouse (D-R.I.) and Ro Khanna (D-Calif.) reintroduced the Big Oil Windfall Profits Tax Act, cosponsored by Warren along with Sens. Tammy Baldwin, Richard Blumenthal, Jeff Merkley, Bernie Sanders, Chris Murphy, Jack Reed, Ed Markey, Cory Booker, Tim Kaine, and Tina Smith. It aims to redirect profits from elevated energy prices back to consumers.

Leah Donahey of the League of Conservation Voters said in a statement supporting the bill, “Let’s be crystal clear that when Trump said that ‘when oil prices go up, we make a lot of money,’ he was talking about billionaire Big Oil executives while ‘we the people’ are stuck paying higher costs. The Big Oil Wind Profits Tax Act … would make sure that when oil executives are raking in big profits, they are returned to the American consumers who are feeling the pain of Trump’s broken energy prices every day.”

That said, Warren’s latest remarks come as Democrats press for investigations into airstrikes and civilian impacts while questioning the war’s legality and long-term strategy. Following a March classified briefing, Warren told reporters the situation was “so much worse than you thought” and that “the Trump administration has no plan in Iran. This illegal war is based on lies, and it was launched without any imminent threat to our nation.”

Trump has maintained that the operations protect US interests and allies.