Commodities
Trump Targets Exxon and Chevron Over 'Too Much' Profits
US President Donald Trump has criticized oil giants ExxonMobil and Chevron for making 'too much money' off higher fuel prices.
Speaking to reporters on August 3, Trump said that both companies should 'give some of that back to the public.' This is a notable break from his usual alliance with the industry.
'I don't like it,' Trump told reporters. 'Chevron, too much money. ExxonMobil, too much. Too much money.'
The comments come after the companies reported blowout second-quarter earnings due to the ongoing war in Iran keeping oil prices high.
Retail petrol prices have climbed over 30% since the US and Israel attacked Iran earlier in February, averaging around $4.10 nationwide.