Oil giants rake in billions, Trump wants a dividend: You've made too much—return wealth to the people
With midterm elections drawing near and U.S. oil prices still stubbornly high, Trump can't stay silent.
On Monday, Trump told reporters at the White House that he was deeply dissatisfied with oil companies reaping massive profits—profits so large that some had reached 12 times last year’s levels, which is clearly abnormal.
Financial reports show ExxonMobil and Chevron posted quarterly profits of $14.5 billion and $12.1 billion respectively. While not quite as extreme as Trump claimed, these figures have indeed risen sharply.
Thus, Trump concluded: Oil companies should take from the people and return wealth to them—by, for example, lowering fuel prices.
Trump said he is unquestionably a staunch advocate of market liberalism and never interferes with markets. But the excessive profits in the oil industry are simply too hard to ignore, so he must speak out—hoping to remind these oil giants to treat consumers more fairly.
Though he sounds noble, it was actually Trump himself who manipulated oil prices by exploiting tensions in the Middle East, enabling energy firms to make windfall gains. Some even suspect he personally “drew the charts,” using policy decisions to manipulate stock prices and profit through buying and selling.
So why is he now publicly criticizing these energy giants? Because oil prices directly impact the outcome of the midterm elections—and perhaps he also wants a piece of the pie. After all, the U.S. President is part of “the people, by the people” too.
Many people hold a misconception: they always think international flashpoints are the core factors determining U.S. elections. In reality, what Americans care about most is their daily lives—food, clothing, housing, and transportation, i.e., domestic livelihood issues.
The fundamental solution to rising oil prices lies in quickly ending the conflict in the Middle East. But this carries other risks: Iran shows no intention of surrendering, yet if the U.S. concedes too much, Trump’s prestige will be damaged, undermining his authority and harming the midterm elections.
Original source: toutiao.com/article/1872571410782219/
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