Welcome to Thursday, August 4th, milk and cookies...
Oil giants reported record-breaking sales in this year’s second quarter, in line with high energy prices worldwide.
Collectively, the five biggest Western oil companies, Exxon, Chevron, Shell, BP, and TotalEnergies, reported some $60 billion in profits.
These increased profits are mainly due to the Russian invasion of Ukraine, which caused a surge in crude oil, natural gas, and gasoline prices this year, and bring political pressure on the companies to increase production and lower costs to consumers who are feeling the financial strain of inflation and high costs of living.
Do you want the government to curb oil profits?
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