US president hits out at ExxonMobil and Chevron, saying they should ‘give some of that back to the public’

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”.

  • redlemace@lemmy.world
    24·
    2 days ago

    apart from distracting, it’s just a call to give him a bigger cut or … no more war for you my oil buddies!

  • SaveTheTuaHawk@lemmy.caEnglish
    11·
    2 days ago

    “President has no idea how commodity pricing works”

    He’s trying to blame oil companies for his stupid war.

  • nkat2112@sh.itjust.worksEnglish
    15·
    2 days ago

    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.

  • CharlesDarwin@lemmy.worldEnglish
    9·
    2 days ago

    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”.

  • artyom@piefed.socialEnglish
    6·
    2 days ago

    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.

    • orclev@lemmy.world
      8·
      2 days ago

      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.

      • kungen@feddit.nu
        2·
        2 days ago

        And/or a distraction. “The prices are high because they’re choosing to increase it, it has nothing to do with my war”

  • AmbientDread@piefed.socialEnglish
    9·
    2 days ago

    Sounds like a communist policy of taking over business in order to facilitate more Pump and Dump Rump acts of state terrorism.

  • HulkSmashBurgers@reddthat.com
    81·
    2 days ago

    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.

    • artyom@piefed.socialEnglish
      2·
      2 days ago

      Cheap gas drives people to consume more of it, destroying the atmosphere, and killing people on our roads. How about instead we take the money from them and reinvest it in sovereign clean energy infrastructure? And then next time they want to have a war in the middle east, we’ll have one less giant problem.