Trump blasts ExxonMobil, Chevron over excessive profits, calls for gasoline price cuts

1. 1President Trump slammed ExxonMobil (XOM) and Chevron (CVX) over their surging profits, urging them to return the gains to consumers and lower gasoline prices
2. 2The two companies' Q2 net profits more than doubled on the back of Middle East and Russia tensions, with funds channeled into debt reduction rather than returns to investors
3. 3With gasoline prices exceeding $4 per gallon and his approval ratings worsening amid the war economy fallout, Trump singled out the majors as the scapegoats for high fuel costs

Source Bloomberg +7 · View original ↗

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