Trump Slams Big Oil for 'Making Too Much Money'
US President Donald Trump has called out ExxonMobil Holdings Corp. and Chevron Corp. for their high profits, citing elevated crude prices due to the Iran conflict he initiated in February with Israel.
Trump stated that the largest American oil companies are 'making too much money' and urged them to cut retail gasoline prices by giving some of their profits back to the public.
'I don't like it,' Trump said at the White House, adding that he's a big free enterprise guy but is not happy about the situation. 'They're going to give some of that back to the public, and they better cut the retail price.'
The two companies earned $29 billion in the second quarter of 2026, with their combined profits amounting to around $318 million per day, more than three times what they made a year earlier.