What specific profit figure did Trump cite for ExxonMobil and Chevron, and what did he demand they do in response?

Trump cited that ExxonMobil and Chevron made '$29 billion combined in the second quarter — or $318 million a day — and more than three times the same period a year ago,' attributing the surge to high oil prices from the Strait of Hormuz crisis and strong refinery performance; he demanded they 'give some of that back to the public' and 'cut retail gasoline prices.'

How did Trump reconcile his criticism of oil companies with his self-identification as a 'big free enterprise guy'?

Trump acknowledged the contradiction by stating, 'I don’t like it. I should be the last one to say because I’m a big free enterprise guy, nobody bigger,' yet insisted, 'You surprised I’m saying it? I’ll say it loud and clear. I’m not happy about it,' framing his criticism as an exceptional response to extraordinary profits amid war-related economic strain.

Trump Slams Exxon, Chevron for Profits Amid War He Launched

Aug 3, 2026

President Trump criticized ExxonMobil and Chevron for record $29 billion combined Q2 profits driven by soaring oil prices amid the Iran conflict, urging lower retail gasoline costs. Executives denied price gouging, attributing earnings to market conditions and production records.

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