Trump's Oil Holdings May Have Benefited From His Own Criticisms
President Donald Trump has been criticizing American oil companies for profiting from higher fuel costs due to the Iran war, but his own financial disclosures reveal significant investments in Chevron and ExxonMobil.
The two oil supermajors reported a sharp increase in earnings for the second quarter, with Chevron's net income soaring nearly 400 percent year-on-year to $12.2 billion and Exxon reporting $14.7 billion in adjusted earnings.
Trump has urged American oil companies to give some profits 'back to the public' and even ordered a Justice Department probe into U.S. oil companies over alleged price gouging, but analysis of his financial disclosures shows he may have benefited from their recent success.