Trump Criticized Big Oil Profits as Refining Earnings Surged

According to CNBC, President Donald Trump criticized ExxonMobil and Chevron in August, saying they were making too much money amid a shortage as profits climbed after the U.S.-Israeli war with Iran. Shell, BP, TotalEnergies and Exxon reported sharply higher refining margins this week. Chevron said Friday that its downstream earnings more than quadrupled from a year earlier to $4.9 billion, citing higher margins on refined-product sales.