U.S. President Donald Trump accused ExxonMobil and Chevron on Monday of making "too much money" off higher fuel prices and said the oil giants should "give some of that back to the
U.S. President Donald Trump accused ExxonMobil and Chevron on Monday of making "too much money" off higher fuel prices and said the oil giants should "give some of that back to the public," a notable break from his usual alliance with the industry.
"I don't like it," Trump told reporters on Monday, three days after the companies reported blowout second-quarter earnings as the ongoing war in Iran keeps oil prices high. “Chevron, too much money. ExxonMobil, too much. Too much money.”
Exxon and Chevron did not immediately respond to requests for comment.
Trump has frequently used public pressure as a tool to push corporate America to change its behavior, often targeting companies directly through social media or remarks to reporters. During his first term, he pressured automakers to keep production in the U.S., criticized defense contractors over costs and urged pharmaceutical companies to lower drug prices.
Since returning to office, he has continued that approach, using the power of the presidential platform to try to influence corporate decisions without always relying on formal government action.
Earlier on Monday, Trump called out Chevron Chief Executive Mike Wirth's appearance on the Fox News program "Sunday Morning Futures with Maria Bartiromo" for not
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