Could Trump Profit From the Iran Oil Windfalls He Criticized?
The president has criticized oil firms for making "too much money" since the launch of the Iran war.
President Donald Trump has criticized oil companies, Chevron and ExxonMobil, for profiting from soaring fuel prices since the start of the Iran war in February. However, recent financial disclosures show that the president invested in these same firms, potentially benefitting from their recent success. In late July, both companies reported a sharp increase in earnings for the second quarter, driven by supply disruptions that have pushed up domestic fuel prices.
Trump has urged the companies to give some profits "back to the public" and threatened "big problems" for gas station owners who fail to lower prices. The White House maintains that Trump's holdings are managed by a third party and not subject to any conflict of interest, despite ethical concerns raised by critics.
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