Trump Blasts Exxon And Chevron Over Record Profits, Demands Lower Gas Prices For Americans
President Donald Trump took direct aim at two of the nation’s largest oil companies Monday, accusing ExxonMobil and Chevron of profiting excessively from soaring gasoline prices while American families continue paying more at the pump.
The unusual criticism marked a notable departure from Trump’s generally close relationship with the energy industry, which has largely welcomed his administration’s push for expanded domestic oil and gas production.
Speaking to reporters at the White House, Trump said he was unhappy with the massive second-quarter earnings recently reported by the energy giants, arguing consumers deserve relief after months of elevated fuel prices.
“I don’t like it,” Trump said. “Chevron, too much money. ExxonMobil, too much. Too much money.”
Trump went even further by suggesting the companies should return some of their profits to the public through lower gasoline prices.
“They better cut the retail price, the consumer price,” Trump said. “I’ll say it loud and clear: I’m not happy about it.”
The president’s comments came just days after several major oil companies posted blockbuster earnings fueled by higher crude prices and stronger refining margins during the ongoing conflict involving Iran.
Chevron reported its strongest quarterly earnings in at least six years, while ExxonMobil also posted one of its best profit reports in recent memory. Other refiners, including Valero Energy and Marathon Petroleum, likewise benefited from the sharp increase in oil prices following the outbreak of fighting earlier this year.
Earlier Monday, Trump also criticized Chevron CEO Mike Wirth following his appearance on Fox News’ “Sunday Morning Futures.”
In a Truth Social post, Trump complained that Wirth failed to acknowledge his administration’s efforts to support the American energy industry.
“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 wrote.
He also pointed to Chevron’s renewed operations in Venezuela, saying the company is now positioned to make enormous profits after previously facing setbacks there.
Chevron has maintained a presence in Venezuela for more than a century. Unlike ExxonMobil and ConocoPhillips, which exited many Venezuelan operations after former President Hugo Chávez nationalized oil assets in 2007, Chevron remained active in the country and has since expanded operations under the Trump administration’s policies.
The president’s frustration comes as Americans continue facing elevated gasoline prices.
National average gasoline prices remain above $4 per gallon, representing a jump of more than 30% compared to levels before the Iran conflict disrupted global energy markets. While crude oil prices have recently declined amid hopes for diplomatic progress, prices at gas stations have been slower to follow.
Industry groups pushed back against Trump’s criticism, arguing oil companies are not solely responsible for higher prices.
The American Petroleum Institute said current fuel costs are being driven primarily by global supply and demand, along with continuing uncertainty surrounding the Strait of Hormuz and other key shipping lanes, rather than excessive corporate pricing.
Trump has made increasing domestic energy production one of the central pillars of his second administration, repeatedly encouraging additional drilling and promising to make America a dominant energy producer. At the same time, however, he has consistently insisted that consumers should benefit from lower prices rather than seeing companies capture windfall profits.
The president predicted oil prices would “drop through the floor” once the conflict with Iran comes to an end, expressing confidence that cheaper crude will eventually translate into lower gasoline prices for drivers across the country.
BREAKING: Dolly Parton’s Cause Of Death Revealed: ‘Brief Battle’
Dolly Parton’s death came after a brief battle with cancer, her representatives revealed Tuesday.
The country music legend died Aug. 25 at Vanderbilt-Ingram Cancer Center in Nashville. She was 80.
Parton had been admitted to the cancer center Friday, four days before her death. Her representatives confirmed the cancer diagnosis in a statement to PEOPLE but did not disclose what type she had.
“Our beloved Dolly Parton spent her life and career bringing joy, laughter, hope and integrity into everything she touched. Her unmatched generosity reached the lives of countless people whom she would never meet, yet she was always there to offer a helping hand,” the statement read.
“Whether it be the hundreds of millions of books donated through her invaluable Imagination Library or funding research that helped create a lifesaving vaccine used around the world, Dolly’s unconditional love for all people was the guiding force for her lasting impact. After bravely facing a brief battle with cancer, Dolly departed her Earthly life today at the Vanderbilt-Ingram Cancer Center surrounded by loved ones,” the statement concluded.
The “Jolene” singer had also been dealing with kidney and autoimmune issues before her death, PEOPLE previously reported.
Just days earlier, Dolly Parton opened up about her declining health and acknowledged that she had put off addressing some medical issues while caring for her husband, Carl.
“As I’ve shared in video messages throughout the past year, I am dealing with some health issues that I just didn’t pay attention to when I was watching over [my husband] Carl. You know, this isn’t the first time I’ve had to manage something like this. Back in the early ’80s, I was down for several months with female issues, and I was struggling with my weight at the time too, so it’s not like I haven’t been through hard times with my health,” Parton told PEOPLE.
Her nephew, Bryan Seaver, announced her death in an Instagram video Tuesday on behalf of the Parton and Owens family.
“My name is Bryan Seaver, son of Cassie Parton, and I’m representing the Parton and Owens family today announcing the passing of my aunt, Dolly Rebecca Parton Dean, Sister, Sis and Granny to one generation and Gigi to the next,” he says in the video.
Seaver, who served as Parton’s head of security for more than two decades, said she had asked him years earlier to deliver the announcement.
“This video announcement is something Dolly asked of me years ago, before I fully absorbed it as a future reality,” he continued. “As her head of security for more than two decades, a role my father Larry held before me, I have imagined the heaviness of this moment but haven’t truly felt it until now.”
Seaver said the moment brought immense pride and heartbreak, but he took comfort in his faith that Parton had been reunited with Carl and other loved ones.
Seaver added: “It is an honor, an honor that is mixed with absolute pride and great sadness. But sadness lies with us, not with Dolly. Dolly has lived in the light and is in the arms of Jesus, surely met by Carl, her parents and countless othe
Shocking 'truth' behind Prince Harry's decision to quit major role
Prince Harry should have "resigned in disgrace" from the board of a controversial African wildlife charity, a commentator says. James Walker makes the bombshell remark in Wednesday's episode of this publication's podcast, Daily Expresso.
He and the show's host, JJ Anisiobi, delve into the Duke of Sussex's dramatic decision to step down from African Parks. James, commenting on the controversy, said: "When you hear about this stuff and how long it's been going on for, you should be resigning in disgrace. [Harry] should be saying: 'I'm not touching that with a barge pole. That is a failed entity. We're going nowhere near it'.
"But no. He's still saying he's going to 'support their mission'. And again this Caroline Pearce, executive director of Survival International, goes on to say: 'His departure doesn't undo that record'.
"She alleged that African Parks was aware of the abuses for years, but it was only after Survival complained to Harry that the charity finally commissioned an investigation."
James added: "Well, she's got a point."
It emerged on Monday (August 24) that Harry was no longer a board member of the wildlife charity.
The conservation organisation has admitted that human rights abuses were committed by its rangers against members of the semi-nomadic Baka group in Congo-Brazzaville.
African Parks has said since that it has improved its safeguarding processes both in the Odzala-Kokoua National Park and institutionally.
Its admission followed an independent human rights investigation into allegations guards managed and paid by the charity had beaten, raped and tortured indigenous people in Odzala-Kokoua National Park.
Harry was president of the charity for six years before he became a member of its board of directors in 2023.
A spokesman for the Duke said he remains an active and avid supporter of African Parks. He added: "The Duke is proud of his 10 years with African Parks and fully supports the ongoing strengthening of its board.
"His commitment to conservation in Africa continues and he remains a supporter of African Parks’ mission."
Human rights organisation, Survival International, said it had been calling on Harry to step down from African Parks for years.
The group's director, Caroline Pearce, said in a statement: "It’s outrageous that for 10 years Prince Harry has served African Parks while the organisation has been responsible for abuse and violence against Indigenous people.
"His departure doesn't undo that record — African Parks itself must now be held accountable, and must abandon this model of fortress conservation for good."
Survival International said indigenous peoples know how best to manage their land and the idea outsiders know better is racist and colonial.
