Trump Slams Oil Giants Over 'Excessive' Profits

US President Donald Trump has expressed discontent over the profits reported by major oil companies, specifically Chevron and Exxon Mobil. The president stated that these companies are earning 'too much money' due to high oil prices.

In a recent statement, Trump criticized the energy industry for not passing on the savings from increased production to consumers, instead choosing to maintain retail prices. This comes after a war with Iran and the closure of the Strait of Hormuz resulted in higher energy prices.

Trump's comments echo those made by his predecessor, Democrat Joe Biden, who also criticized oil companies during a period of high inflation. The president suggested that these companies should 'give some of that back to the public' by reducing retail prices.