Big Oil Is Robbing YOU At The Pump To Rake In Record-Breaking Profits

Exxon Mobil and Chevron, the biggest oil companies in the U.S., recorded record-breaking profits and revenue from this past business quarter and have already ramped up their already egregious stock buyback program to further enrich shareholders and executives. Including Europe’s top oil companies Shell and TotalEnergies, the four corporations combined to return over $23 billion to shareholders through stock buybacks just this past quarter alone. John Iadarola, Ramesh Srinivasan, and Jessica Burbank discuss on The Young Turks.

Read more HERE: https://www.reuters.com/business/ener…

“The two largest U.S. oil companies, Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N), posted record revenue on Friday, bolstered by surging crude oil and natural gas prices and following similar results for European majors a day earlier.

The U.S. pair, along with UK-based Shell (SHEL.L) and France’s TotalEnergies (TTEF.PA), combined to earn nearly $51 billion in the most recent quarter, almost double what the group brought in for the year-ago period.”

3 thoughts on “Big Oil Is Robbing YOU At The Pump To Rake In Record-Breaking Profits

    1. Hello Nan. No but what is surprising is how blatant they are about price gouging. They no longer think anyone can stop them or do anything about it so they just squeeze the last drop of blood from the public for profit. Then the right wing media hammers Biden on the price of gas but omitting that the oil companies are the ones jacking up the prices. The right is convinced the Biden shut down working pipelines and stopped pumping, all nonsense. The US is the largest producer of oil in the world. We could have nearly costless gas if that fuel stayed here in the country. But that would ruin the profit of worldwide mega oil companies. Greed is king. So the oil we produce goes into the global market to be sold for the highest price, the refineries in the US are already at capacity yet the oil companies refuse to put money into expansion or building more. As one oil company executive said, “Why would we do anything that would reduce the price and lower our profits”? But the maga crowd doesn’t know any of that. I gave up fighting with them on that, they just won’t listen to any real facts on the subject. Hugs

      Liked by 1 person

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