August 2, 2026
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7:32Now PlayingChevron and Exxon just posted massive profits after Trump’s Iran war disrupted oil markets, squeezed supply, and sent refining margins soaring. Now Trump is demanding lower gas prices, threatening investigations, and accusing retailers of gouging while the same oil giants that benefited from his policies and sponsored his political spectacle keep cashing in. The companies funded the party, took the deregulation, pocketed the profits, and then showed Trump exactly who holds the power when his poll numbers need cheaper gas. Ring of Fire's Josh G. explains.
OilPrice Exxon and Chevron's $26.5 Billion Quarter Draws Trump's Ire
Reuters Shell more than doubles its profit in Q2, beating expectations
CNBC Exxon and Chevron Q2 earnings
OpenSecrets Oil and gas industry contributions
TIME What to Know About the TrumpBacked Freedom Fuel Network
Trump Truth Social oil companies gouging, DOJ probe
Trump Truth Social gasoline retailers must drop prices
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