Latest / GNN Daily Breaking News / Trump Blasts Exxon, Chevron for Making ‘Too Much Money,’ Demands Lower Gasoline Prices

Transcript

Trump Blasts Exxon, Chevron for Making ‘Too Much Money,’ Demands Lower Gasoline Prices · GNN Daily Breaking News

• 0:00
  Speaker 1: President Donald Trump has reignited tensions with the oil industry,
• 0:04
  Speaker 1: blasting energy giants Exonmobil and Chevron for what he called
• 0:09
  Speaker 1: making too much money while American consumers struggle with high
• 0:13
  Speaker 1: gasoline prices. His remarks, delivered in sharp tones, reflect mounting
• 0:19
  Speaker 1: political pressure as fuel costs remain a sensitive issue for
• 0:22
  Speaker 1: households and businesses alike. Trump accused the companies of prioritizing
• 0:27
  Speaker 1: shareholder profits over public responsibility, demanding that they take immediate
• 0:33
  Speaker 1: steps to lower gasoline prices. He argued that record earnings
• 0:37
  Speaker 1: in recent quarters highlight a disconnect between corporate success and
• 0:41
  Speaker 1: consumer hardship. They're gouging the American people, he said, insisting
• 0:46
  Speaker 1: that energy firms must reinvest profits into production and refining
• 0:51
  Speaker 1: capacity rather than buybacks and dividends. The criticism comes at
• 0:55
  Speaker 1: a time when oil prices have stabilized, but retail gasoline
• 1:00
  Speaker 1: costs remain elevated, driven by refining bottlenecks and global market dynamics.
• 1:06
  Speaker 1: Analysts note that Trump's attack is part of a broader
• 1:10
  Speaker 1: political strategy, positioning himself as a defender of consumers against
• 1:14
  Speaker 1: corporate excess while pressuring companies to align with his administration's
• 1:19
  Speaker 1: economic agenda. Industry leaders pushed back, pointing to global supply constraints,
• 1:25
  Speaker 1: regulatory hurdles, and geopolitical risks that continued to shape fuel prices.
• 1:31
  Speaker 1: They argued that profits are necessary to fund exploration and infrastructure,
• 1:36
  Speaker 1: warning that political interference could undermine long term energy security
• 1:41
  Speaker 1: for markets. Trump's comments injected fresh uncertainty. Shares of Exxon
• 1:47
  Speaker 1: and Chevron dipped in early trading as investors weighed the
• 1:51
  Speaker 1: possibility of new policy measures targeting the sector. Some analysts
• 1:55
  Speaker 1: suggest the administration could explore tax or regulatory actions if
• 2:00
  Speaker 1: companies fail to respond voluntarily. Ultimately, Trump's broadside against Exxon
• 2:06
  Speaker 1: and Chevron underscores the fragile balance between corporate profits, consumer costs,
• 2:12
  Speaker 1: and political accountability. As gasoline prices remain stubbornly high, the
• 2:18
  Speaker 1: clash between Washington and big oil is likely to intensify,
• 2:22
  Speaker 1: with millions of drivers watching closely for relief at the pump.