Story thread · 104 reports / 53 sources

Bezos' Post blasts Trump for turning on Big Oil

alternet.org · 5dShare

President Donald Trump has recently started blaming Big Oil rather than his war against Iran for rising oil prices — and the editorial page of The Washington Post, owned by billionaire Jeff Bezos, is having none of it. “Prices are set by supply and demand,” wrote The Washington Post’s Editorial Board on Wednesday . “That economic law is as fundamental as they come, but not for the first time, President Donald Trump is acting like he’s above the law.” They added, “Trump ripped into energy giants Chevron and ExxonMobil this week for windfall profits amid the Iran war: Chevron reported a quarterly record of $12.1 billion, and ExxonMobil’s $14.5 billion nearly doubled last year’s second quarter profit.” Referring to Trump’s comment that oil companies are “making too much money based on a shortage” and that “they ought to give some of that back to the public, and they better cut the retail price,” the Post noted that Trump’s invasion of Iran prompted that country to mostly shut down the Str

First report: Oil Companies Have Raked in Massive Profits During the Iran War but Their Future Will Be Expensive — finance.yahoo.com, 8d