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submitted 10 hours ago by MicroWave@lemmy.world to c/politics@lemmy.world

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”.

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[-] the_riviera_kid@lemmy.world 4 points 3 hours ago

Yeah! only corrupt presidents are allowed to make money from war!

/S

[-] SaveTheTuaHawk@lemmy.ca 9 points 4 hours ago

"President has no idea how commodity pricing works"

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

[-] artyom@piefed.social 4 points 4 hours 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.

[-] TryingToBeGood@reddthat.com 19 points 6 hours ago

Subtext: “…and they’re not giving enough of it to ME!!”

[-] crystalmerchant@lemmy.world 36 points 8 hours ago

Making too much money that he's not getting enough of a cut of

Fixed

[-] HulkSmashBurgers@reddthat.com 8 points 6 hours 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.

[-] FuglyDuck@lemmy.world 69 points 10 hours ago

What he's really saying is that they're not paying him a big enough cut.

[-] CharlesDarwin@lemmy.world 9 points 7 hours 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".

[-] voxthefox 8 points 7 hours ago
[-] orclev@lemmy.world 7 points 6 hours 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.

[-] ChonkyOwlbear@lemmy.world 16 points 8 hours ago

He's getting blamed for high gas prices and he's passing the blame as usual.

[-] whyrat@lemmy.world 6 points 6 hours ago

What ever happened to his "Freedom Fuel Network"?

Probably unrelated... /s

[-] nkat2112@sh.itjust.works 14 points 9 hours 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.

[-] AmbientDread@piefed.social 9 points 8 hours ago

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

[-] redlemace@lemmy.world 22 points 10 hours ago* (last edited 10 hours ago)

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

[-] Zier@fedia.io 1 points 9 hours ago

Gas should be $1/gal for the next 5 years.

[-] SaveTheTuaHawk@lemmy.ca 1 points 2 hours ago

If that happens, USA will just buy bigger and bigger trucks.

[-] artyom@piefed.social 1 points 4 hours 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.

[-] redlemace@lemmy.world 1 points 8 hours ago

$1/gal -> 0.229 euro per liter

Quite a number of european counties pay tenfold today

[-] magic_smoke 1 points 7 hours ago

But I have to drive my Ford F350 Super Duty Fuck-My-Wife edition 😭

[-] redlemace@lemmy.world 1 points 5 hours ago

ahhh ... that 6 year old pick-up the one with the never-has-and-never-will-be-used truckbed

this post was submitted on 04 Aug 2026
122 points (100.0% liked)

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