Friend,

Exxon just reported a profit of $17.9 billion in the last THREE MONTHS -- triple what the country made a year ago.(1)

Exxon and the rest of Big Oil is not delivering a product that’s three times as good as it was in 2021. They are just profiting off media coverage of war and scarcity, pumping up record high prices so they can deliver huge dividends to their shareholders. Meanwhile, the rest of us struggle to fill our tanks.

President Biden has criticized oil and gas companies’ massive profits, but unlike other governments around the world, his administration has so far refused to endorse the one action that would actually hold Big Oil accountable -- a windfall profits tax.

Watch the exclusive report by our friends at More Perfect Union Media and then add your name to our petition to President Biden, calling on him to endorse a windfall profits tax on Big Oil.

Let’s look at the United Kingdom to see what’s possible: Every household in the UK receives a £400 discount on their energy bill -- roughly $480. On top of that, the 9 million poorest households get another £650 (about $775) as a direct payment. Pensioners and people with disabilities get even more. All of those payments are funded, in part, by a 25% surcharge on the windfall profits of oil and gas companies.

We must do it here, too. A windfall tax would take some of those billions back and give them directly to people who are struggling the most with the skyrocketing cost of living.

It’s not just the UK.

Italy, Spain, Romania, and Bulgaria are spending big to provide tangible inflation relief for working people, and they’re using excess oil and gas profits to do it.

In America, we do none of these things. And instead of Big Oil paying their employees more or transitioning to green energy, they are pumping billions of dollars into stock buybacks -- a Wall Street scam that increases CEO pay at the expense of investments in workers, innovation, and workplace safety.

The Biden administration must follow in the footsteps of the UK, Spain and Italy, and deliver real relief. Sign our petition to the president demanding he fight for a windfall profits tax plan with direct rebates to consumers like the one authored by Senator Sheldon Whitehouse.

Instead of begging oil executives to start playing nice, Democrats need to start holding them accountable and delivering for working people.

Thank you for taking action today.

–Irene, along with Amber, Angela, Annie, Mai, Isidra, Jay, Lindsay, LisaMarie, Mai, Raquel and Scottie (the Courage team)

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