American producers and refiners are getting richer, but President Donald Trump may pay the price

The US’ largest oil companies almost tripled their profits during the US-Israeli war on Iran, the New York Times has reported, at a time when soaring energy costs threaten to wipe out US President Donald Trump’s Republican Party in the upcoming midterm elections.

The American oil giants – including Chevron, Exxon Mobil, and Valero – earned $130 billion in profits between April and September, according to six months worth of financial results covering more than 50 companies, combined by the New York Times.…