Trump Slams Big Oil's 'Too Much Money' Amid Iran War
US President Donald Trump expressed discontent Monday over the substantial profits reported by US oil companies ExxonMobil and Chevron amid the ongoing war in Iran. The president argued that these large earnings, particularly from the second quarter of 2026, are undeserved due to a shortage caused by the conflict.
Trump criticized ExxonMobil's $14.5 billion profit, more than double its earnings during the same period last year, and Chevron's $12 billion profit, the highest in six years. The president stated that these companies 'ought to give some of that back' to the public.
ExxonMobil and Chevron have seen significant gains due to the Iran war pushing oil prices above $100 per barrel and gasoline prices skyrocketing up to an average of $4.56 per gallon in the spring. Trump predicted that gasoline prices will 'drop through the floor' once the US is 'finished with Iran,' although current prices stand at nearly $1 higher than last year.