Uploaded August 2026 | Updated September 2026, 3 weeks ago
Gas is expensive and American drivers are exhausted. President Donald Trump is frustrated, too, but his beef is with major oil companies that just reported blockbuster second-quarter earnings.
"They're making too much money, OK, based on a shortage, they're making too much money. I don't like it and I should be the last one to say it because I'm a big free enterprise guy, nobody bigger," Trump said Monday.
The oil shortage Trump referred to is a product of the Iran war. The Iranian regime has essentially closed the Strait of Hormuz, which, before the war, was used to transport one-fifth of the world's crude oil. The longest stretch of elevated fuel prices tied to this supply shock overlapped with the same period covered in second-quarter earnings reports: April, May and June.
Chevron reported adjusted earnings of $12 billion, compared to $3.1 billion in the second quarter of 2025. ExxonMobil also more than doubled earnings, raking in $14.7 billion compared to $7.1 billion in last year’s second quarter.
_________________________________________
Follow WGXA on social media:
TikTok: tiktok.com/@wgxanews
Facebook: facebook.com/wgxanews
Twitter: twitter.com/wgxanews
Instagram: instagram.com/wgxanews
Newsletter sign-up: okcfox.com/sign-up
Have a tip? Email us at news@wgxa-tv.com
Have a video or photo you want to share? Upload it to wgxa.tv/chimein
WGXA is a GA based station and a FOX and ABC Television affiliate owned and operated by Sinclair Broadcast Group. Sinclair, Inc. is one of the largest and most diversified television broadcasting companies in the country today. Sinclair owns and operates, programs or provides sales services to 163 television stations in 77 markets, after pending transactions. Sinclair's television group reaches approximately 38.7% of US television households and includes FOX, ABC, MyTV, CW, CBS, NBC, Univision and Azteca affiliates.
# wgxanews #wgxa #macon #georgia #localnews
Gas is expensive and American drivers are exhausted. President Donald Trump is frustrated, too, but his beef is with major oil companies that just reported blockbuster second-quarter earnings.
"They're making too much money, OK, based on a shortage, they're making too much money. I don't like it and I should be the last one to say it because I'm a big free enterprise guy, nobody bigger," Trump said Monday.
The oil shortage Trump referred to is a product of the Iran war. The Iranian regime has essentially closed the Strait of Hormuz, which, before the war, was used to transport one-fifth of the world's crude oil. The longest stretch of elevated fuel prices tied to this supply shock overlapped with the same period covered in second-quarter earnings reports: April, May and June.
Chevron reported adjusted earnings of $12 billion, compared to $3.1 billion in the second quarter of 2025. ExxonMobil also more than doubled earnings, raking in $14.7 billion compared to $7.1 billion in last year’s second quarter.
_________________________________________
Follow WGXA on social media:
TikTok: tiktok.com/@wgxanews
Facebook: facebook.com/wgxanews
Twitter: twitter.com/wgxanews
Instagram: instagram.com/wgxanews
Newsletter sign-up: okcfox.com/sign-up
Have a tip? Email us at news@wgxa-tv.com
Have a video or photo you want to share? Upload it to wgxa.tv/chimein
WGXA is a GA based station and a FOX and ABC Television affiliate owned and operated by Sinclair Broadcast Group. Sinclair, Inc. is one of the largest and most diversified television broadcasting companies in the country today. Sinclair owns and operates, programs or provides sales services to 163 television stations in 77 markets, after pending transactions. Sinclair's television group reaches approximately 38.7% of US television households and includes FOX, ABC, MyTV, CW, CBS, NBC, Univision and Azteca affiliates.
# wgxanews #wgxa #macon #georgia #localnews
