Trump Slams ExxonMobil and Chevron Over 'Too Much Money' Profits
US President Donald Trump has criticized ExxonMobil and Chevron for making excessive profits from higher fuel prices. Speaking to reporters on Monday, Trump said he was unhappy that both companies had benefited from the elevated oil prices during the Iran war.
'Chevron, too much money,' Trump told reporters on Monday. 'ExxonMobil, too much. Too much money.'
Trump has often used public criticism to influence major companies, including automakers and pharmaceutical companies. He has also pressed them to keep production in the US or reduce prices.
The American Petroleum Institute responded to Trump's criticism by stating that 'Today's higher prices are driven by global supply, demand and continued uncertainty around the Strait of Hormuz and other critical shipping lanes, not by any one company.'