Exxon And Chevron Report Record Quarterly Profits

[beaglelover]

The New York Times reports:

Exxon reported income of $17.9 billion for the three months through June, more than three times what it earned a year ago. Revenue at the energy giant jumped to $115.6 billion, from $67.7 billion a year ago.

Chevron’s performance was similar, with profit more than tripling to $11.6 billion as sales rose to $65 billion, compared with $36 billion a year ago.

Coming after oil prices nearly doubled from a year ago, the bumper results were expected, but Exxon and Chevron still beat analysts’ predictions for profits in the quarter.

https://www.nytimes.com/2022/07/29/business/exxon-chevron-profit.html

This is just disgusting and turns my stomach. Congress needs to call these greedy Oil Company CEOs up to Capital Hill and ask them some tough questions!

[pwb]

1. So with Joes new Corporate 15% minimum tax we

would get a decent piece of that back to pay off the debt and move us all forward. I love the 15% Corporate minimum tax. No more 0% tax bills. FUGUM.

[beaglelover]

2. I"m sure most Americans would rather have that extra income in their pockets by not paying

engorged gas prices at the pump. This is pure price gouging and extortion of the American public. It's disgusting.

[TheRealNorth]

3. They gotta pay for those attack ads on Democrats somehow....

So what better way then to create economic problems and then blame Democrats for those problems while you pocket billions and get people elected who will cut your taxes even more.

[Hermit-The-Prog]

6. Gouging Oligarch's Playbook

Bump the price of gasoline or diesel fuel by a buck or two and everything downstream has to bump, too.

[madinmaryland]

4. And that would go to a lot of smaller businesses as

People use that to buy things they want and need.

[Chainfire]

5. If you will give it a few minutes, someone will come along and tell you why tripling the profits

have nothing to do with the price at the pump...