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President Donald Trump Criticizes Oil Majors for Windfall Profits Amid Rising Gas Prices

President Donald Trump criticized major oil companies for generating excessive profits during the ongoing conflict with Iran. Speaking from the Oval Office, President Donald Trump noted that companies like ExxonMobil and Chevron have made "too much money" due to supply shortages caused by the war. The president urged these energy giants to reduce retail prices for consumers, stating that the companies should "give some of that back to the public." Recent reports show ExxonMobil's second-quarter profits more than doubled, while Chevron's earnings soared nearly 400% compared to the previous year. These windfall profits come as U.S. gasoline prices have risen significantly since the start of the conflict. While the administration announced that the conflict has disrupted shipping and pushed prices higher, the president expressed dissatisfaction with the high costs facing American drivers. He predicted that oil prices would "drop through the floor" once the conflict concludes, while simultaneously pressuring the industry to provide immediate relief to the public.

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