Stephen Colbert Mocks ‘President Businessman’ Being ‘Caught Off-Guard’ by Oil Price Spike

Stephen Colbert mocked President Donald Trump’s self-styled image as a savvy businessman after reports the White House was caught off-guard by an “oil price spike” amid the conflict with Iran.

Opening The Late Show Wednesday night, the host seized on reporting that administration officials were surprised by the jump in oil prices and the resulting rise in gasoline costs after joint U.S.-Israeli strikes and the escalation in the Middle East.

“Trump is scrambling to minimize the political damage posting earlier this week,” the host began, before reading aloud the president’s Truth Social post on the matter: “‘Short-term oil prices which will drop rapidly when the destruction of the Iran nuclear threat is a very small price to pay for USA and world safety and peace.’”

“Easy for him to say he doesn’t pay for his own gas,” Colbert jibed, adding: “That’s anyone who stands behind him.”

He flashed an image on screen of a staffer rubbing her nose during an Oval Office briefing, as the audience laughed.

The host wasn’t finished, however, and began to skewer the president’s reputation as a deal-making executive who understands markets.

“Somehow, President Businessman didn’t see all this coming,” Colbert said.

The late-night host pointed to a report that White House staffers had been caught unprepared by the surge in oil prices over the weekend.

According to one official cited in the report, “It was insane. It absolutely surprised the administration.”

Colbert reacted with mock disbelief: “You were surprised that bombing the place the oil comes from makes the oil cost more?”

He then riffed sarcastically: “I thought burning down the Ann Taylor Loft would lead to more sensible workplace separates.”

Watch above via CBS.

New: The Mediaite One-Sheet "Newsletter of Newsletters"
Your daily summary and analysis of what the many, many media newsletters are saying and reporting. Subscribe now!