WASHINGTON — Standing in the Oval Office on Monday, President Trump turned on two of his most reliable industry allies, singling out Chevron and ExxonMobil for what he called excessive profiteering while drivers keep absorbing high prices at the pump. "Chevron, too much money. ExxonMobil, too much. Too much money," the president told reporters during an executive-order signing, later adding, "I don't like it," according to CBS News and CNBC.
Trump's comments landed three days after both companies posted second-quarter numbers that ranked among their strongest in years. Chevron's adjusted earnings hit $12 billion, its best three-month stretch in at least six years, fueled by a near-tripling of profit from its oil-and-gas production business as benchmark crude prices climbed roughly 50% year over year, and by a sharp jump in refining margins tied to tightening fuel supplies, according to the company's own earnings coverage.
