President Donald Trump said Monday that ExxonMobil and Chevron made too much money as crude oil prices rose due to the Iran war.
“They’re making too much money based on a shortage,” Trump told reporters at the White House. “I don’t like it.”
Exxon and Chevron on Friday reported windfall profits for the second quarter. Chevron’s earnings soared nearly 400% to $12 billion compared to $2.5 billion in the same period last year. Exxon’s profits more than doubled to $14.5 billion compared to $7.1 billion in the year-ago period.
“Chevron, too much money. ExxonMobil too much money,” Trump said. “They’re going to give some of that back to the public and they better cut the retail price, the consumer price.”
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