Bloomberg Surveillance · Tuesday, August 4, 2026
President criticizes Exxon and Chevron for record profits, totaling $29 billion in Q2, which he attributes to war-driven high energy prices and shortages. Steven Scholl of The Show Grew stated that companies are making money due to artificial price inflation stemming from the President's actions and lack of a clear plan to alleviate the situation.
“The President's slamming Exon and Chefron has higher prices from the war in a round way on consumers and fuel profits for the ord giants. The company's ranking going to combined twenty nine billion in the second quarter, more than triple the same time last year.”
“He's chastising in the industry that has made money in a quarter on a war that he started and has no apparent plan on ending. Now he's going full Bernie Sanders on the market, telling us, Now, Excellent has to turn that money over.”
“They're making money from shortage and making money relative to a year ago. But it's a shortage that he created, and he has again no plan is from the market's perspective of alleviating.”