Trump criticized Big Oil for making “too much money,” but oil majors have since reported surging refining earnings as fuel supplies tightened. Companies like Exxon and Chevron expand refining capacity ($9B Gulf Coast investments) to reduce current high-margin spreads. - Investors warned to distinguish cyclical windfalls from durable value. Key TakeawaysExxonMobil reports third-quarter results before the open on Friday, Oct.