Exxon Mobil, Shell, Chevron, and BP combined made $71 billion in *profits* last year.
- With increased global economic activity, the international price of oil jumped even as these companies’ costs remained the same — meaning outrageous profits for companies that are racing us toward climate catastrophe.
- Now they stand to make *even more* profits as Russia’s invasion of Ukraine sends oil prices higher still.
- And they’re exploiting the Ukraine crisis to lobby for more drilling even though that will do nothing to lower prices now or any time soon.
A bill just introduced in Congress by Senator Sheldon Whitehouse — with support from numerous senators and representatives, including Bernie Sanders and Elizabeth Warren — would fight Big Oil’s insatiable greed by taxing these unjustified windfall profits and giving money back to American consumers.
Tell Congress:
It should go without saying that profiteering from war is wrong. Impose a windfall profits tax on Big Oil without delay.
Add your name now.
Thank you for taking action.
For progress,
- Robert Weissman, President of Public Citizen
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