US president\u2019s complaint industry \u2018making too much money\u2019 comes after his policies boosted corporations<\/p>\n
Donald Trump\u2019s statement that oil companies have made \u201ctoo much money\u201d from the Iran war has angered environmentalists, who say that his policies were designed to benefit those very corporations. If he really believes his own claims, he should impose a windfall profits tax, advocates say.<\/p>\n
\u201cTrump\u2019s declaration that big oil is \u2018making too much money\u2019 belies his accommodation and giveaways to the industry that have enabled its price-gouging \u2013 not to mention his disaster of a war of choice against Iran,\u201d said Tyson Slocum, energy program director at consumer advocacy nonprofit Public Citizen. \u201cBut like a broken clock that\u2019s correct twice a day, the president is right that oil companies are \u2018making too much money\u2019, which means Trump should endorse a windfall profits tax.\u201d<\/p>\n
ExxonMobil and Chevron on Friday both reported windfall profits for the second quarter of the year. Chevron said its earnings soared nearly 400% to $12bn, while Exxon\u2019s profits more than doubled to $14.5bn. On Monday evening, Trump took aim at those gains, saying the companies \u201cought to give some of that back to the public\u201d.<\/p>\n
Continue reading…<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" US president\u2019s complaint industry \u2018making too much money\u2019 comes after his policies boosted corporations Donald Trump\u2019s statement that oil companies have made \u201ctoo much money\u201d from the Iran war has angered environmentalists, who say that his policies were designed to benefit those very corporations. If he really believes his own claims, he should impose a … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-77095","post","type-post","status-publish","format-standard","hentry","category-blog"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts\/77095","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/comments?post=77095"}],"version-history":[{"count":0,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts\/77095\/revisions"}],"wp:attachment":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/media?parent=77095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/categories?post=77095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/tags?post=77095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}