Trump Slams ExxonMobil, Chevron for 'Making Too Much Money'
US President Donald Trump has expressed his disapproval of ExxonMobil Holdings Corp. and Chevron Corp.'s soaring profits, which have more than doubled their second-quarter net income due to global energy market disruptions stemming from conflicts in the Middle East and Russia.
The president, a self-proclaimed 'big free enterprise guy', stated that he is not happy with the companies' profits, urging them to 'give some of that back to the public' and cut retail gasoline prices. He mentioned that Americans are already grappling with high costs of housing, food, and consumer goods, and now paying over $4 per gallon of regular gasoline on average.
Trump has come under intense political fire from the economic fallout of the war he launched in February alongside Israel, imperiling his fellow Republicans' chances in November's midterm elections. He has pointed to big oil companies as a scapegoat for high fuel prices and ordered the Justice Department to investigate why gasoline prices had not fallen.