"Too Much Money:" President Trump Just Lashed Out at ExxonMobil and Chevron for Windfall Profits, Warns Both Companies They Should "Give Some of That Back."
But what can Trump actually do?
Overview
Both ExxonMobil (NYSE:XOM) and Chevron (NYSE:CVX) reported massive windfall profits in Q2, due in part to surging oil and fuel prices caused by the war in Iran. Wall Street has certainly been appreciative, bidding up shares of both stocks by more than 25% since the beginning of the year.
But one person doesn’t seem happy about all the money these oil companies are raking in: President Donald Trump.
Details
“[G]et your consumer (retail) Oil Prices DOWN, NOW!” demanded Trump in a Truth Social post earlier today.
Source
Originally published at www.fool.com.
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