Trump Slams Exxon and Chevron for 'Too Much Money' Amid Iran War
US President Donald Trump has criticized oil giants Exxon and Chevron for earning 'too much money' in part due to high oil prices resulting from the ongoing Iran war.
The war, which began with the February 28 attacks on Iran by the US and Israel, triggered a historic oil shortage that sent petroleum prices soaring. As a result, some oil companies have recorded substantial profits.
Chevron reported $12 billion in profits over three months ending in June, a staggering rise of nearly 400% from the same period a year earlier. Exxon, meanwhile, posted quarterly profits of $14.5 billion, more than doubling its performance from the same three months a year earlier.
Trump urged Exxon and Chevron to slash retail fuel prices, accusing them of hiking wartime prices too high. 'They're making too much money,' Trump said in the Oval Office on Monday. 'You're surprised? I'm saying it. I'll say it loud and clear.'