# Trump says oil majors are 'making too much money' — retained record

> Retained news record from news:semafor.

Canonical: https://highsignal.app/data/records/2b417e7dddf5f468

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source: [news](https://highsignal.app/data/news) (news:semafor)  published 2026-08-04 12:28 ingested 2026-08-05 08:43

[original source ↗](https://www.semafor.com/article/08/04/2026/trump-lashes-out-against-oil-majors-for-making-too-much-money)

## retained text



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US President Donald Trump accused oil majors of “making too much money” after they reported windfalls from the Iran war, saying they should “give some back to the public.”
ExxonMobil’s second-quarter profits doubled year-on-year, Chevron had its highest earnings on record and Aramco, BP, and Shell declared blockbuster earnings. Oil prices breached $100/barrel in May and average US pump prices hit $4.55 as the conflict disrupted shipping.
The surging cost of gas is proving a major headwind for Trump’s Republican Party, which is underwater in the polls ahead of November’s midterms. But the president has little room for maneuver: The US Strategic Petroleum Reserve is already at its lowest level since the early 1980s, The Wall Street Journal reported.
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document fetched 2026-08-05 08:43 · canonical https://semafor.com/article/08/04/2026/trump-lashes-out-against-oil-majors-for-making-too-much-money