US president hits out at ExxonMobil and Chevron, saying they should ‘give some of that back to the public’
Donald Trump has criticised oil companies for “making too much money” from the global energy market disruption caused by his war on Iran.
Brent crude had been trading at about $70 (£52) a barrel before the first US-Israeli strikes at the end of February, but by the end of April it had soared as high as $126 and is now trading at about $85 a barrel.
The US president took aim at the windfall profits revealed last week by ExxonMobil and Chevron, and said the companies would “give some of that back to the public”.
What he’s really saying is that they’re not paying him a big enough cut.
Making too much money that he’s not getting enough of a cut of
Fixed
Subtext: “…and they’re not giving enough of it to ME!!”
apart from distracting, it’s just a call to give him a bigger cut or … no more war for you my oil buddies!
He’s getting blamed for high gas prices and he’s passing the blame as usual.
Might he be concerned about the upcoming midterm elections - perhaps more so than the recent huge cost of living challenges facing US families?
Also:
from the global energy market disruption caused by his war on Iran.
Very true.
“President has no idea how commodity pricing works”
He’s trying to blame oil companies for his stupid war.
Well, they wanted it, in order to drive up their profits. But now he can’t take the heat.
This fucking asshole made two billion in a year. And he’s a brainless baboon. He has a lot of nerve talking about anyone else making “too much money”.
Sounds like a communist policy of taking over business in order to facilitate more Pump and Dump Rump acts of state terrorism.
Yeah! only corrupt presidents are allowed to make money from war!
/S
U.S. Government Subsidies to Oil Companies in 2026
In 2026, the U.S. federal government is estimated to provide $35 billion annually in subsidies to the fossil fuel industry, which includes oil companies.
Breakdown of Subsidies
The subsidies can take various forms, including:
- Direct Financial Subsidies: Tax breaks and direct payments to oil companies.
- Land Acquisition: Reduced royalties and access to public lands for drilling.
- Permitting: Streamlined processes for obtaining permits.
- Government Services: Infrastructure support, such as road maintenance.
Maybe it’s time to stop the subsdies.
Maybe it’s time to nationalize the oil companies in partial compensation for the environmental damage they’ve knowingly done, imprison their senior executives, and start an aggressive program of shutting the industry down in the next five years, in as irreversible way as possible.
Yes oil companies need to go the way of the dinosaur because they’re not good for the environment.
Let them fight.
This isn’t a fight, it’s a shakedown. This is Trump letting them know he’s expecting a kickback. Once they provide an appropriately sized bribe to him this will all magically go away.
And/or a distraction. “The prices are high because they’re choosing to increase it, it has nothing to do with my war”
saying they should ‘give some of that back to the public
Then make them. I mean you’re basically fucking omnipotent. You absolutely have the power to make them do that. So if you really believe that, make them. But you don’t really believe that, this is simply a whataboutism to distract from the damage you personally are causing the economy.
What ever happened to his “Freedom Fuel Network”?
Probably unrelated… /s
So… you’re saying they should be taxed more?
