Shafaqna English– President Trump broke with his customary pro-industry stance on Monday(3 Aug 2026), leveling criticism at ExxonMobil and Chevron for capitalizing on surging fuel prices to generate what he described as exorbitant profits, and calling on the two major oil corporations to redistribute some of their gains back to the public – a move that underscores a significant shift in the president’s rhetoric toward the very sector he has historically championed.
Speaking to the press on Monday, Trump did not mince words, expressing his disapproval of the massive profits posted by ExxonMobil and Chevron just 72 hours after their record-breaking second-quarter earnings reports – earnings that were buoyed by the elevated crude prices that have persisted throughout the ongoing Iran war.