First Thing: Trump chastises oil companies for ‘making too much money’ from his Iran war
US President Donald Trump has publicly criticized major oil companies for generating record profits amid global energy market disruptions caused by the conflict with Iran. Meanwhile, a coalition of 25 US states has filed a lawsuit against the administration over new trade tariffs.
Why it matters
The intersection of geopolitical conflict, corporate windfall profits, and trade policy creates significant volatility in the global economy.
Gas prices on display at a Chevron station. Gas prices on display at a Chevron station. First Thing newsletter US news First Thing: Trump chastises oil companies for ‘making too much money’ from his Iran war US president takes aim at profits as oil companies worldwide benefit from US-Iran conflict. Plus, can you tell if someone is secretly filming you with Meta’s glasses?
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Prefer the Guardian on Google Good morning. Donald Trump has criticised oil companies for “making too much money” from the global energy market disruption caused by his war on Iran. The US president took aim at the windfall profits revealed last week by ExxonMobil and Chevron, and claimed the companies would “give some of that back to the public”.
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