Donald Trump on August 3 criticized oil giants ExxonMobil and Chevron for raking in record profits while American drivers pay over $4 per gallon at the pump. The national average gasoline price climbed to roughly $4 per gallon, up from nearly $3 before the US-Iran conflict disrupted shipping through the Strait of Hormuz. Chevron reported its highest quarterly earnings in at least six years, ExxonMobil posted its best quarterly profit in four years, and BP saw its profits more than double. This stance represents a significant shift from Trump’s usual pro-fossil fuel posture, which had been defined by deregulation and expanded drilling permits throughout his terms.
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