Why Trump is lashing out at Chevron amid profit windfall (Evan Halper, WaPo, August 3, 2026)

CHEVRON's corporate parent, Standard Oil of California, was one of the 33 companies comprising the STANDARD OIL TRUST, the criminal antitrust law violating illegal combination and conspiracy that was ordered broken up by the Supreme Court in 1911.  The STANDARD OIL TRUST was created by Big Oil oligopolists JOHN DAVISON ROCKEFELLER, SR. and  HERNY MORRISON FLAGLER.  CHEVRON is the brand name given to Standard Oil Co. of California, second largest of the companies broken up by the 1911 Standard Oil divestiture decree.   

From The Washington Post:

Why Trump is lashing out at Chevron amid profit windfall

The president criticized Chevron for not giving the administration what he considers adequate credit for the oil major’s financial success.

August 3, 2026 at 3:03 p.m. EDT40 minutes ago

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Gas prices averaged $4.10 a gallon nationally Saturday. (Kirsten Fiscus/Tennessean/USA Today Network/Reuters)

By Evan Halper

President Donald Trump on Monday morning accused Chevron CEO Mike Wirth of ingratitude and demanded the executive lower prices as voter frustration with high gas prices mounts.

The social media missive, in which Trump attacked Chevron for not giving the administration what he considers adequate credit for the oil major’s financial success, comes after the company Friday posted one of its highest quarterly profits in years. The profits come at the expense of drivers struggling with gas prices averaging more than $4 for a gallon of regular.

The global shortage of oil triggered by the war in Iran is driving up those prices — and big oil company profits. As midterm elections approach, those high gas prices are a major factor for an electorate focused on affordability concerns. Democrats assign blame to Trump, noting the war’s role in driving up fuel costs that the president has consistently vowed will come down. Trump in turn is pointing the finger at the very oil companies with which he had been closely aligned. 

Following a Fox News interview with Wirth, Trump posted on social media: “The only thing he forgot to mention is that without the genius, foresight, strength, and stability of the TRUMP Administration, the Oil Industry and our Country itself, would be DEAD! … get your consumer (retail!) Oil Prices DOWN, NOW!”

By Evan Halper

Evan Halper is a business reporter for The Washington Post, covering energy and global competition. His work focuses on the tensions between energy demands, the race to dominate innovation and efforts to decarbonize the economy. follow on X@evanhalper