Trump and Progressives Seemingly Agree: Big Oil Must Be Reined In

Trump and Progressives Seemingly Agree: Big Oil Must Be Reined In

Washington, D.C. – As corporate profits from Big Oil have skyrocketed in recent months, and the average consumer gasoline price in America stubbornly remains above $4 a gallon, the rhetoric of President Trump and policy demands of progressive advocacy organizations are increasingly in alignment. Earlier this week, dozens of advocacy groups from across the country sent a letter to Congressional leaders calling for passage of a legislative package…

‘That’s not capitalism!’ Trump attacks Exxon and Chevron over ‘too much money’

President Donald Trump is known for taking on whoever he wants, but his latest target has even some conservatives raising eyebrows — and wondering if the government is abandoning the free market principles America thrives on."Based on a shortage, they're making too much money," Trump told reporters about Exxon Mobile and Chevron. “I don’t like it.”“When we’re finished with Iran, you’re going to see the prices drop through the floor. But they mad…

Donald Trump Slams Chevron And ExxonMobil For Windfall Profits Amid Crisis

U.S. President Donald Trump has criticized energy giants Chevron and ExxonMobil, accusing them of generating excessive profits from instability in the Persian Gulf and the ongoing conflict involving Iran. The White House head called for a revision of pricing policies to return windfall gains to American consumers, asserting that oil prices will drop once the political crisis is resolved. Corporate Earnings and Market Drivers The criticism follow…

Oil Industry Launches Lobbying Blitz To Block Trump Export Restrictions On Exxon (NYSE: XOM) And Chevron (NYSE: CVX)

The U.S. oil industry has shifted into emergency mode, mounting an aggressive campaign to prevent the Trump administration from restricting fuel exports to foreign countries. Industry executives say the business of exporting fuel has boomed since the start of the U.S.-Israeli war against Iran, making any potential export ban an existential threat to their bottom lines. While administration officials had assured the industry since the early days …

Will oil tip us into recession?

Will rising oil prices push Britain into recession? And if they do, will the Bank of England make the situation even worse? In this video, I examine the extraordinary profits recently reported by the world’s largest oil companies following the conflict involving Iran. While households and businesses face higher fuel costs, oil companies are making windfall gains. I argue that these profits reveal something important about today’s inflation: it i…