First Thing: Trump chastises oil companies for ‘making too much money’ from his Iran war
Summary
President Trump criticized major oil companies for making large profits during the disrupted global energy market caused by his conflict with Iran. Meanwhile, a coalition of 25 US states sued the Trump administration over new tariffs on goods from many trading partners.Key Facts
- ExxonMobil and Chevron made over $26 billion in profits combined from April to June 2024.
- Chevron had a record quarterly profit of $12.2 billion, five times higher than last year.
- ExxonMobil’s second-quarter profit of $14.5 billion was double its profit from the same time last year.
- European and Saudi oil companies such as Shell and Aramco also reported large profit increases.
- A coalition of 25 US states sued the Trump administration regarding tariffs set at 10%-12.5% on goods from 60 trading partners.
- The new tariffs cover 99.4% of US imports and were introduced after some previous tariffs were struck down by the Supreme Court.
- An immigrant detainee died in ICE custody in New Jersey, marking the 22nd death this year in US immigration detention.
- Issues with water quality and conditions have been reported at ICE detention centers in California.
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