Big oil is pulling in massive profits as impacts of the ongoing Iran war send crude prices soaring.
According to recent Barron’s analysis, supply constraints have driven blockbusting second-quarter profits for industry titans like ExxonMobil, Chevron, and Shell.
LiveNOW’s Anna Marsick spoke about these record-setting profits with Laura Sanicola from Barron’s.
Meanwhile, President Trump said Chevron and ExxonMobil are “making too much money” and should return some of their profits back to the public.
“When you look at one company where they made 12 times what they made the year before, they ought to give some of that back to the public,” Trump told reporters in the Oval Office.