Trump Slams Big Oil Over 'Too Much Money' Profits During War

President Donald Trump has publicly criticized ExxonMobil (NYSE: XOM) and Chevron (NYSE: CVX), two of America's largest oil companies, over their 'too much' profits during a period of national and global strain. The criticism came as the U.S.-led war against Iran continues to drive up oil prices.

The President told reporters in the Oval Office on Monday that he doesn't like it when companies make excessive profits during wartime. He specifically mentioned that ExxonMobil's second-quarter earnings of $14.5 billion, or $3.48 per share, more than doubling its year-earlier result of $7.1 billion, is 'too much.'

Chevron reported a 400% surge in profits compared to the same quarter last year, driven largely by disruptions to Middle Eastern energy infrastructure.