Trump's War of Choice Fuels ExxonMobil and Chevron Profits as Gas Prices Soar
ExxonMobil and Chevron, two major oil companies in which former President Trump holds millions of dollars worth of stock, have warned that soaring gas prices are here to stay. The warning comes after both companies announced massive profits thanks to the ongoing war in Iran, with ExxonMobil raking in $14.7 billion and Chevron bringing in $12 billion.
The conflict has led to a significant increase in oil prices, with gas prices surpassing $4 per gallon for the second time this year. This marks the first instance of gas prices reaching this level in a single year.
Trump's decision to engage in a war of choice in Iran has had severe consequences for American families, costing them an estimated $78.2 billion at the pump. The oil companies' profits have skyrocketed since last year, with ExxonMobil doubling its profits and Chevron increasing its profits by nearly 300%.