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‘That’s not capitalism!’ Trump attacks Exxon and Chevron over ‘too much money’
August 06, 2026
Trump blasted oil giants for profiting from high energy prices during the Iran conflict.
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 made too much money. Too much money. Chevron, too much money. Exxon Mobile, too much. Too much money,” he continued.
“You're surprised? I'm saying it. I'll say it loud and clear," the president added.
“This is concerning,” BlazeTV host Pat Gray comments.
“That’s not capitalism,” he adds.
“Just to look ahead, Mr. President,” Jeff Fisher chimes in, “when the prices do drop through the floor, they’ll have had this money to maybe survive on a little while.”
Executive producer Keith Malinak points out that on February 27, Chevron closed at $189 a share.
“Today, they’re all the way to $193 a share,” he says.
Meanwhile, Exxon is up $6 a share.
“So very modest stock gains at least for those two companies in the last six months. It’s not like how drug companies did with your vaccine,” he adds.
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BlazeTV Staff
News, opinion, and entertainment for people who love the American way of life.
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