Chevron, ConocoPhillips, Exxon and Shell all reported record profits in 2022 — a year in which collided with the post-pandemic economic recovery to drive oil prices to their highest levels in history.
The record profits come after a year of skyrocketing gas prices. After slumping hard in 2020, global consumption of oil and gasoline bounced back far slower than production, putting pressure on gas prices. Russia's invasion of Ukraine a year ago further shrank the world's oil supplies, bringing the average price of gas in the U.S.Shell on Thursday reported a nearly $40 billion profit for last year.
"Companies clearly have everything they need — record profits and thousands of approved permits — to increase production.
Perhaps they have high profits because the freaking Government ( Biden and Dems) closed down the pipeline, refuse to drill on federal land and won't frack. Supply and demand ...
EXXON and it's fellows have EXPLOITED every last one of us during a worldwide epidemic to make the highest profits ever. Backed by Texas Greg Abbott, for one.
This headline is bought and paid for by big oil. It’s price gouging, which you refer to as inflation.
It's almost like fossil fuel companies are actual deep state
Just how many times did you publish fake, lying stories of Trump Russia collusion? Losers.
GavinNewsom says they’re going to pay but I haven’t seen anything yet.
And of Course 'it's BiDen'S FAult'...wake up people, the oil company is gouging us...yes, Businesses have a right to make a profit...but at What expense?...
The greedy bastards. They definitely made it up on the back end.
little wonder
Joe Biden loves big oil. What do you think Ukraine is about?
Profiteering and price gouging.
Sales? What was the profit?
Awesome news!
Yup and our elected officials all got their cut. So the people will continue to suffer.
'highest ever profits since people started using petroleum' . . . R U daring us to fact check some Standard Oil data here ?
Corporate greed
treason
Good. They lost a lot of money during the trump years.