Kevin O'Leary warns energy costs will dominate the 2026 election debate

Kevin O'Leary highlighted a stark gap between robust market performance and the everyday financial strain felt by households, citing an “extraordinary earning season” alongside inflation that remains above 3%. He warned that rising energy costs, especially gasoline, are the top concern for voters in every state and suggested that lowering oil prices to under $70 per barrel before the November election could influence congressional outcomes.

O'Leary criticized current U.S. policies, referencing low approval for Donald Trump amid cost-of-living worries. He also pointed to criticism from lawmakers such as Bernie Sanders, Elizabeth Warren, Hakeem Jeffries and JB Pritzker regarding inflation and spending. In a separate comment, he said fear of China’s advances in AI and energy will push the United States, Canada and Mexico toward tighter economic cooperation, citing each nation’s unique strengths. The remarks come as other tech leaders, including Elon Musk, warn that China is rapidly closing the AI gap.