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Posted on 08/03/2026 12:17:22 PM PDT by Sir_Humphrey
President Donald Trump said Monday that ExxonMobiland Chevron made “too much money” on rising curde oil prices due to the Iran war.
“They’re making too much money based on a shortage,” Trump told reporters at the White House. “I don’t like it.”
(Excerpt) Read more at cnbc.com ...
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Hey, dumbass -- maybe you should have listened to this guy:
<< Had you not started this war, gas prices would be down and there would be no affordabilty issue. >>
There was an affordability issue long before the war started, going back to the printing around $6 trillion during the Covid madness.
That said, Trump blaming the oil companies is populist crap
I wonder if Trump ever made “too much money” on any of his old business deals.
I suppose Trump is trying soften the gas price blow ahead of the November elections. But blaming private companies is commie stuff.
Don’t go commie, Donald. Even a little bit.
Number N+1 of stupid things Trump has said. He should shut-up and quit while he is still ahead.
Let’s have a talk about futures trading taking place and by whom shall we? Independent investigation anyone? It might be interesting.
Nope, don’t go commie or even socialist. Not a good look.
He is absolutely desperate to end this mess or soften it. So are we by association.
You do realize big oil is making windfall profits from the war. We are being gouged.
Trump has been the one manipulating oil prices and the stock market by his repeated false statements of ‘peace is at hand’ followed by the reality of ‘no, it isn’t’. The first few times I swallowed what he said. I never believed him this past weekend.
At this point, the options are clear - either Trump is gullible in believing what he is told (history doesn’t support that), or he’s manipulating the markets for his own purposes. In either event, he can’t be trusted.
Admin, with all due respect why can this freeper can call Trump dumbass?
It is not as if Trump himself is a pauper.
Face Palm.
Exxon Mobil on Friday reported that its second quarter profits doubled to $14.53 billion, boosted by record diesel production. The oil giant, based in Spring, Texas, brought in $116.02 billion in revenue, up 42%.
Chevron, based in Houston, nearly quadrupled its profits to $12.07 billion and revenue jumped 56% to $70.06 billion.
Six of Europe’s largest oil companies posted combined first-quarter profits of $22 billion, more than 40% higher than last year.
It appears US Treasury is using its powers to suppress oil futures market, and Trump’s well-timed social media statements are part of that.
But it is far more difficult to suppress down-stream products prices, like gasoline and diesel, because that depends on factories, real production, demand and run-rates.
So Trump needs to use his bully-pulpit on oil companies, too
Trump has 90 days to get to the midterms. That’s the goal - get across the November 3 deadline without gasoline prices exploding higher. Despite the war, given Democrats slate of mentally-ill marxists and perverts, Trump and the GOP have a real chance of greater success in the midterms.
So expect this full-spectrum manipulation of oil market to continue.
Iran must know this, so they will use well-placed missiles to destroy Trump’s narrative.
The free market isn’t perfect but it’s way ahead of whatever is in second place.
Open competition fixes a lot of problems...
One has to look at net profit margin not gross numbers. Oil companies typically have had net profit margins of 7-9%.
He’s playing into the democrats’ hands.
“You do realize big oil is making windfall profits from the war. We are being gouged.”
Not me. I own shares of CVX.
> We are being gouged. <
Perhaps.
Price-gouging is (and should be) illegal.
But illegal only in a true emergency, like in a hurricane.
There is no true emergency here.
And if Big Oil is price-fixing, come down on them like a ton of bricks.
Meanwhile, let the often-ugly capitalist system work itself out.
There are two reasons posters this thread are criticizing Trump:
1. You’re controlled by the communists without knowing it.
2. You’re a communist.
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