Trump Takes Aim at Oil Giants Over Iran War Profits

President Donald Trump has said America’s oil majors are making “too much money” as a result of the Iran war, and has urged companies to lower their prices or share the windfall profits they have enjoyed thanks to ongoing energy market disruptions.

Speaking in the Oval Office on Monday, the president took aim at Chevron and ExxonMobil for the substantial gains both reaped in the second quarter, driven primarily by elevated global fuel costs, and said that the two companies should distribute these earnings among their retail customers.

“And I should be the last one to say [that] because I’m a big free enterprise guy,” Trump said, while adding that the pair should “give some of that back to the public, and they better cut the retail price.”