At a time when Americans are struggling with record-high gas prices, Big Oil companies are continuing to profit off of Putin’s criminal war in Ukraine.
John,
At a time when Americans are struggling with record-high gas prices, Big Oil companies are continuing to profit off of Putin’s criminal war in Ukraine.
Last month, Exxon Mobil and Chevron, the two largest U.S. oil companies, reported a second consecutive quarter of robust earnings, while simultaneously decreasing their global production of oil and natural gas. While ordinarily we would applaud decreasing production of fossil fuels, Exxon and Chevron didn’t suddenly have some revelation about climate change. No, this was about exploiting a crisis to drive up their profits.
The reason is simple. Big Oil knows every day people currently have no alternative but to pay their outrageous prices at the pump.
Big Oil is perfectly content price gouging American consumers in the midst of an energy crisis. As SEEC member Congresswoman Katie Porter put it, “While Americans struggle to pay for gas at the pump, fossil fuel companies are raking in cash at families' expense. Let's call this what it is: profiteering."
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