President Donald Trump has criticized major oil companies, specifically ExxonMobil and Chevron, for earning excessive profits amid rising fuel prices. Trump stated that these companies made too much money and added that he is not happy about the situation.
The surge in oil prices, which have gained about 20 percent since the U.S. and Israel attacked Iran on February 28, has led to record profits for the industry. ExxonMobil and Chevron netted a combined 26.5 billion dollars over the Iran war, with Chevron posting its highest quarterly earnings in at least six years last week.
Trump specifically criticized Chevron CEO Mike Wirth for failing to mention the administration's pro-fossil fuel policies during an interview with Fox Business Network. While claiming that Chevron's success stems from his policies, the president called on oil companies to bring pump prices down now and urged urgent reductions for consumers.