Trump Slams Oil CEOs Over 'Dead' Industry Without His Support
US President Donald Trump has once again demanded lower gas prices from oil companies. In a social media post, he chided Chevron CEO Mike Wirth for failing to credit his administration with helping the oil industry. Trump stated that without the 'genius, foresight, strength, and stability' of his administration, the oil industry would be 'DEAD!'
The call for lower gas prices comes as higher energy costs pose a risk to Trump's Republican Party ahead of November's midterm elections. The global oil market has been volatile in recent weeks, with prices plummeting after Trump called off a planned attack on Iran over the weekend.
Last week's earnings from Exxon Mobil, Chevron, Valero Energy, and Marathon Petroleum highlighted the boost US oil companies received from higher crude prices and refining margins after the Iran conflict. However, gas prices at the pump do not necessarily follow suit with global oil prices.