Trump Slams Exxon and Chevron Over $26.5B War Profits Amid Fuel Price Crisis
US President Donald Trump targeted oil giants Exxon Mobil and Chevron on Monday for their $26.5B (£19.7B) war profits, saying they should cut retail prices after a combined quarter of almost fivefold earnings. The rebuke came as a new poll showed that 54% of voters hold the president responsible 'a lot' for fuel prices above $4 (£3) per US gallon.
The two companies reported significant increases in their second-quarter earnings: Chevron's jumped to $12B (£8.9B) and Exxon Mobil more than doubled to $14.5B (£10.8B). Trump acknowledged that he may seem like an unlikely messenger, calling himself the biggest free-enterprise advocate there is.
Exxon Chairman Darren Woods had previously told investors 'markets were supportive' while crediting their own operations. The companies have not publicly responded to the criticism.