Big Oil is recording record profits as consumers grapple with high gas prices and the costly effects of extreme weather events






GovDelivery Bulletin Medium Story

*July 20, 2023
*Public and constituent inquiries | 360.902.4111
Press inquiries | 360.902.4136








Inslee and legislators say it?s time for 'radical transparency' as Big Oil rakes in excessive profits

Gov. Jay Inslee, legislative leaders and representatives of labor and health care today announced the time has come for Washington state to tackle Big Oil?s record-breaking, excessive profits.

Following ?monster profits? in 2022, several oil and gas giants have posted even higher Q1 profits for 2023. Their profits are rolling in at the same time communities everywhere grapple with record heat waves, deadly flooding, drought, wildfires and pollution-related medical conditions that average people and state governments are expected to pay for on top of sky-high fuel prices. Climate-fueled disasters cost the United States $165 billion in 2022.

And yet, spokespeople for these companies are doubling down in defense of high gas prices, with Chevron saying ?it?s not our job to go bankrupt? trying to comply with policies aimed at protecting communities from the brunt of fossil fuel companies? climate impacts. This same company made $6.6 billion in profits the first quarter of this year ? more than twice the profit of Amazon.

?We should not yield an inch to these rapacious oil and gas companies that are now using [the Climate Commitment Act] as an excuse,? Inslee said, as he defended the urgency of capping carbon pollution and reinvesting in solutions like heat pumps and electric buses that benefit communities and children. ?Instead, we should hold them accountable for their outrageous pricing. We?re not against profits but we?re against price gouging.?

*Read the full story on Gov. Jay Inslee's Medium here. [ [link removed] ]*

ff

Gov. Jay Inslee speaks about record oil and gas profits at the expense of consumers and the companies' lack of accountability for their role in the devastating impacts of climate change.

________________________________________________________________________







Stay Connected with the Office of the Governor:
Facebook [ [link removed] ] ? Twitter [ [link removed] ] ? Instagram [ [link removed] ] ? Flickr [ [link removed] ] ??Medium [ [link removed] ] SUBSCRIBER SERVICES:
Manage Subscriptions [ [link removed] ] ?|? Unsubscribe All [ [link removed] ] ?|? Help [ [link removed] ]

________________________________________________________________________

This email was sent to [email protected] using GovDelivery Communications Cloud on behalf of: Office of the Governor / Office of Financial Management ??PO Box 40002 ? Olympia, WA ??98504-0002 GovDelivery logo [ [link removed] ]