'Shocking': Saudi Aramco Posts Largest-Ever Annual Profit for a Fossil Fuel Company

in net income last year, a record for the U.S. firm but nowhere close to the Saudi corporation's haul.

in a statement."It is all the more shocking because this surplus was amassed during a global cost-of-living crisis and aided by the increase in energy prices resulting from Russia's war of aggression against Ukraine."its banner profits—driven by"stronger crude oil prices, higher volumes sold, and improved margins for refined products"—were up nearly 47% compared to 2021, a windfall the company has used to reward investors.

While Aramco said it intends to devote resources to"lower-carbon technologies" and carbon-capture initiatives that climate campaigners have dismissed as

No reason we can't use our own oil/gas, and price it affordably in the US - we don't need the Saudis. Our output was higher than theirs in gas/oil under Trump. He sold it to China, dumb, but it kept gas prices low globally. We need to get completely out of the Middle East.

I’m sure gov Canada can find them a subsidy.

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Saudi oil giant Aramco becomes latest energy firm to post record profits | CNN BusinessSaudi Arabian oil giant Aramco on Sunday reported a record annual net profit of $161.1 billion for 2022, up 46% from the year earlier, the latest international firm to benefit from high energy prices. Perhaps fuel can start coming down then? I need shares in this company The Ukraine war has really cut into their profit margin.
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