Trump Hits Exxon, Chevron for Profits Amid Iran War He Launched

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessTrump Hits Exxon, Chevron for Profits Amid Iran War He LaunchedPresident Donald Trump scolded ExxonMobil Holdings Corp. and Chevron Corp. for their soaring profits, as oil prices surged amid the war in Iran he launched in February alongside Israel.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — President Donald Trump scolded ExxonMobil Holdings Corp. and Chevron Corp. for their soaring profits, as oil prices surged amid the war in Iran he launched in February alongside Israel. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountTrump on Monday said the biggest US oil companies are “making too much money,” urging them to “give some of that back to the public” and cut retail gasoline prices.“I don’t like it. I should be the last one to say because I’m a big free enterprise guy, nobody bigger,” the president told reporters at the White House. “You surprised I’m saying it? I’ll say it loud and clear. I’m not happy about it.”ExxonMobil and Chevron more than doubled their second-quarter net income on the heels of global energy market disruptions stemming from conflicts in the Middle East and Russia. Instead of using the money for investor proceeds, the supermajors put it toward lowering their debts.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againTrump has come under intense political fire from the economic fallout from the war.Americans already grappling with the high cost of housing, food and consumer goods are now paying more than $4 per gallon of regular gasoline on average. Voters have given Trump increasingly poor marks over his handling of the economy and the war, imperiling his fellow Republicans’ chances in November’s midterm elections. In recent weeks, he’s pointed to big oil companies as a scapegoat for high fuel prices. Trump in June ordered the Justice Department to investigate why gasoline prices had not fallen, suggesting companies could be engaged in price gouging. —With assistance from Hadriana Lowenkron and Kate Sullivan.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. 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