Trump slams Exxon, Chevron for making 'too much money'
FILE-President Donald Trump speaks after signing an executive order in the Oval Office of the White House in Washington, D.C., on August 3, 2026. (Photo by Jim WATSON / AFP via Getty Images)
President Donald Trump is accusing Exxon and Chevron of making "too much money" off soaring fuel prices and alleges that the oil companies should give some of the funds "back to the public."
Trump criticizes Exxon and Chevron
What they're saying:
Speaking to reporters on Monday, Trump said, "I don’t like it," three days after the organizations reported high second-quarter earnings as the Iran war pushes oil prices higher. "Chevron, too much money. ExxonMobil, too much. Too much money," he told reporters.
Reuters reported that Trump called out Chevron Chief Executive Mike Wirth's appearance on the Fox News program "Sunday Morning Futures with Maria Bartiromo" for not crediting his administration's efforts to help the oil industry.
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Responding to Wirth’s appearance, Trump wrote on this Truth Social platform Monday that "The only thing he conveniently forgot to mention is that, without the genius, foresight, strength, and stability, of the TRUMP Administration, the Oil Industry, and our Country itself, would be DEAD!" Trump wrote on his Truth Social platform. "As an example, they threw Mike and Chevron out of Venezuela, but now they're back, far bigger and stronger than ever before, expecting to make a fortune!"
Trump has pushed for lower oil prices and told reporters Monday that these costs would fall substantially once the Iran war concludes.
According to Reuters, soaring gas prices related to the Iran war and cost-of-living concerns are among the biggest issues facing the nation’s economy.
As of Tuesday, the average gas price is $4.08 a gallon, according to AAA, and prices have jumped since the U.S.-Iran conflict began earlier this year.
The Source: Information for this story was provided by Reuters, a Truth Social post from President Donald Trump, and AAA. This story was reported from Washington, D.C.