Trump says oil companies Chevron and Exxon Mobil made ‘too much money’

President Donald Trump said Monday major oil companies are earning excessive profits because of high oil prices.

“They made too much money, too much money, “ Trump said. “They ought to give some of that back to the public, and they better cut the retail price.”

Trump said he’s not happy with profits reported by Chevron and Exxon Mobil, even though the higher margins reflected energy prices that had increased after Trump launched a war with Iran and the Strait of Hormuz was effectively closed to oil and natural gas tankers.

Trump’s predecessor in the White House, Democrat Joe Biden, also attacked oil companies for their profits when inflation was a major problem with voters.

President Donald Trump said Monday that newly planned talks with Tehran are the “last chance” for Iran to forge a deal and avoid an escalation of U.S. strikes on the country.

Trump, speaking at the Oval Office, said he expects negotiations that will reopen the Strait of Hormuz and create a pathway for Iran to address United States’ concerns about it’s nuclear program will begin in the next day or two.

The Republican president says, “The first phase is the opening of the straits. The second phase will be the denuclearization.” Trump says that ”will take a little while.”

While Trump has reveled in the U.S. military decimating layers of Tehran’s leadership and devastating its air force and navy, Iran is betting it can outlast Trump as he faces diminished stockpiles of munitions and the difficulty of executing a war that is unpopular with the American electorate ahead of November’s midterm election.

Trump is venting about the status of peace talks with Iran.

He criticized Iran's leadership for claiming that its meetings with Oman on Monday were focused solely on establishing a temporary route for safe navigation through the Strait of Hormuz.

The president previously said he held off on a massive weekend strike against Iran because there was another framework for a ceasefire and the full reopening of the strait to oil and natural gas tankers.

“Iranian Leadership is unbelievably duplicitous!” Trump posted on social media Monday. “They ask for a meeting, some would say “beg,” talks begin, with more scheduled in the immediate future, and they say, openly and proudly, that they’re not having any discussions, that nothing is being talked about, and they’re only dealing with ‘Oman.’”

Trump said whether “Iran wants to admit it or not, we are, in fact, talking” about preventing Iran from developing nuclear weapons.