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Trump Declares WAR on Big Oil; Exxon & Chevron Face Fire Over War Profits
Updated On: 13 August, 2026 01:39 AM IST
US President Donald Trump has launched a blistering attack on America's biggest oil companies, accusing them of making enormous profits while ordinary consumers struggle with soaring fuel prices during the ongoing Iran conflict. Speaking as oil markets remain volatile, Trump singled out energy giants ExxonMobil and Chevron, claiming they are "making too much money" from the crisis. The President urged the companies to "give some of it back" by lowering fuel prices, insisting that American families should not bear the burden of war-driven energy costs. Trump also warned that he does not approve of companies benefiting from geopolitical turmoil, demanding that major oil producers reduce prices at the pump instead of enjoying record profits fueled by global supply disruptions. His remarks come as fuel prices continue to dominate political debate ahead of the US midterm elections, with inflation and energy costs remaining major voter concerns. WATCH
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