{"id":1531,"date":"2026-08-04T04:08:51","date_gmt":"2026-08-04T04:08:51","guid":{"rendered":"https:\/\/www.vaultinsider.top\/?p=1531"},"modified":"2026-08-04T04:08:51","modified_gmt":"2026-08-04T04:08:51","slug":"trump-blasts-big-oil-give-some-of-that-back","status":"publish","type":"post","link":"https:\/\/www.vaultinsider.top\/?p=1531","title":{"rendered":"Trump blasts Big Oil: ‘Give some of that back’"},"content":{"rendered":"
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Retired Gen. Jack Keane analyzes the sharp drop in crude oil prices after President Donald Trump paused military strikes against Iran. Keane explains how market volatility reacted to the administration’s push for diplomatic talks.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
President Donald Trump lashed out at the U.S. oil industry on Monday, arguing that the country’s largest companies should give some of their sharply higher profits to the American public.<\/p>\n
“I don’t like it,” Trump told reporters in the Oval Office when asked about the huge earnings reported by ExxonMobil and Chevron last week during the war with Iran.<\/p>\n
“They\u2019re making too much money, okay, based on a shortage,” he continued.\u00a0<\/p>\n
“I don\u2019t like it, and I should be the last one to say it because I\u2019m a big free enterprise guy,” he said before adding: “Nobody bigger.”\u00a0<\/p>\n
ExxonMobil had reported earning $14.5 billion in the second quarter of 2026 \u2014 double what it made during the same period last year.<\/p>\n
FORGET GASOLINE: THIS OVERLOOKED FUEL COULD RAISE THE PRICE OF NEARLY EVERYTHING YOU BUY<\/u><\/strong><\/p>\n
Oil tanker at a port in the Strait of Hormuz.<\/span> (Giuseppe Cacace\/AFP via Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n
Chevron pulled in $12 billion, posting its highest quarterly earnings in at least six years, according to Reuters.<\/p>\n
“Chevron, too much money. ExxonMobil, too much. Too much money,” Trump continued.<\/p>\n
“When you look at one company where they made 12 times what they made the year before, they ought to give some of that back to the public, and they better cut the retail price, the consumer price,” Trump added.<\/p>\n
“I\u2019ll say it loud and clear. I\u2019m not happy about it,” Trump said before stating that gasoline prices would “drop through the floor” when the war with Iran ended.<\/p>\n
AAA NATIONAL GAS PRICE TOPS $4 AMID RENEWED US STRIKES ON IRAN<\/u><\/strong><\/p>\n
Chevron pulled in $12 billion, posting its highest quarterly earnings in at least six years, according to Reuters.<\/span> (Brandon Bell\/Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n
The two sets of earnings came as the Iran war pushed oil prices above $100 a barrel at times.<\/p>\n
Oil prices fell again Monday as signs emerged that U.S.-Iran tensions were easing, Reuters reported.<\/p>\n
“The sharp drop in oil prices, due to Trump’s cancellation of severe attacks against Iran and hopes of a diplomatic resolution, set the ball rolling this morning,” Peter Cardillo, chief market economist at Spartan Capital Securities in New York, told Reuters.<\/p>\n
Earlier Monday, Trump also criticized Chevron CEO Mike Wirth for not crediting Washington’s efforts to help the oil industry.<\/p>\n
WHITE HOUSE, GAS STATIONS POINT FINGERS OVER STUBBORN PRICES WHILE LOCATIONS THAT SLASHED PRICES SEE BOOM<\/u><\/strong><\/p>\n
ExxonMobil had reported earning $14.5 billion in the second quarter of 2026 \u2014 double what it made during the same period last year.<\/span> (Sheldon Cooper\/SOPA Images\/LightRocket via Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n
The comments came after Wirth’s appearance on “Sunday Morning Futures with Maria Bartiromo.”<\/p>\n
“The only thing he conveniently forgot to mention is that, without the genius, foresight, strength, and stability of the TRUMP Administration, the Oil Industry, and our Country itself, would be DEAD!” Trump said in a post on Truth Social.<\/p>\n
GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/u><\/strong><\/p>\n
“As an example, they threw Mike and Chevron out of Venezuela, but now they’re back, far bigger and stronger than ever before, expecting to make a fortune!” he added.<\/p>\n<\/div>\n
Retired Gen. Jack Keane analyz… <\/p>\n","protected":false},"author":1,"featured_media":1532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[237,2730,87,717,357],"class_list":["post-1531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-big","tag-blasts","tag-give","tag-oil","tag-trump"],"yoast_head":"\n
Trump blasts Big Oil: 'Give some of that back' - Finance News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vaultinsider.top\/?p=1531\" \/>\n<meta property=\"og:locale\" content=\"zh_CN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump blasts Big Oil: 'Give some of that back' - Finance News\" \/>\n<meta property=\"og:description\" content=\"Retired Gen. 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![\"Oil](\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2026\/03\/931\/523\/strait-of-hormuz-oil-tankers.png?ve=1&tl=1\")
<\/source><\/source><\/source><\/source><\/picture><\/div>\n![\"A](\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2026\/01\/931\/523\/chevron-energy.png?ve=1&tl=1\"){kind=icon}
<\/source><\/source><\/source><\/source><\/picture><\/div>\n![\"ExxonMobil](\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2025\/10\/931\/523\/exxonmobil-sign.jpg?ve=1&tl=1\")
<\/source><\/source><\/source><\/source><\/picture><\/div>\n