Big Oil's Windfall Earnings Threaten to Reignite Trump's Price Gouging Push The US Israeli strikes against Iran have had far reaching consequences, but for two American oil giants, Chevron and Exxon, the outcome has been a lucrative quarter.
According to Reuters, these companies will report their best earnings since 2022, thanks to the war induced supply squeeze that drove international oil benchmarks to record highs.
President Trump's response has been predictable. He has instructed the DOJ to investigate what he perceives as egregious price gouging by the oil industry.