Gas prices are displayed at a Mobil gas station in Los Angeles on Oct. 28, 2022. ExxonMobil posted record earnings in 2022, benefitting from a surge in oil prices.Gas prices are displayed at a Mobil gas station in Los Angeles on Oct. 28, 2022. ExxonMobil posted record earnings in 2022, benefitting from a surge in oil prices.
But he also gave his company credit for being able to take advantage of those prices."We leaned in when others leaned out," he said.The high profits have also revived perennial conversations about how much profit ismuch profit for an oil company — especially as urgency over the need to slow climate change is mounting around the world.
Last year, between dividends and share buybacks, Exxon returned $30 million to shareholders, while Chevron paid out more than $22 billion. Exxon plans to hold production flat in 2023, while Chevron plans to increase production by 0 to 3%.If you do the math, Exxon made some $6.3 million in profit every hour last year — more than $100,000 every minute.
Those accusations have become especially charged because Russia's invasion of Ukraine were central to the drive-up in crude oil prices last year. Europe has
The 'record profits' still wasn't enough to make up for the loss of stock revenue and loss of assets value. It's why they can't just build a not profitable well. Not only that, Alaskan fed lands, the 1 supplier of us oil, is now completely restricted to drilling permits
Sean_Brace They had to make their money back from the pandemic somehow. Rich stay rich, poor stay poor.
ScoutLadyNY IMPORTANT Article.
inflation
Money they looted from the working class taxpayers.
I still haven't forgot how NPR helped Insurrectionist Leader Trump in 2016 tho....and you show up in my TL. BLOCKING TIME!!!
Disgusting!
ricardoricacio
I don’t think exxonmobil has any control over global price for oil. It is based on supply and demand. If only the US was allowed to produce its own, it can supplement global supply hence lowering the price of oil.
The apocalypse may be boring, but it’s also profitable!
Price gouging pays off.
Biden’s leadership at the pump
Stephanik will be throwing accusations against the FBI DOJ - to cover the insurrectionists’ asses - but won’t be condoning the disgusting profits made on the back of middle class America by the oil giants because they bankroll their election and buy themselves lawmakers
Crazy all these record profits line up with record inflation
This is UNITED STATES 🇺🇸. The big companies won’t pay tax and they own our working class people pockets. They choose what to give us.
The executives of oil and gas companies are basically criminals who are allowed to rob from consumers
Have you no staff economist? Russian oil/gas sanctions + Saudi production cutback + Biden killing Keystone pipeline = very tight supply. Econ 101.
The same people who sit on the boards of energy companies, blocking ability to address climate reality, are also those who helped Rumsfeld engineer this global holocaust & hoard the world's resources. We're supposed to die quietly so they can prey in peace UNOSAPG UNODC_TPB
Greed.
But inflation, right? Anyone? Bueller?
VioletReads Price gouging to drive up record profits while using inflation as a cover.
I wonder how the fuck this happened? Ya- it was totally BiDeNs FaUlt FoR hIgH GaS pRiCe right? Wrong- this is proof. Fuck exxon
insatiableGREEDkills insatiableGREEDlies gut fossil fuels
OGNurseRatchet Greedy, backbreaking scum; pure and simple. Proof that the 'free market' will never self-regulate to a degree that is compatible with an egalitarian society, like the US Constitution (including amendments) calls for.
Waiting for MAGA to blame Biden for the high gas prices
do Pfizer next
Pure corruption
Outstanding corporate team.
People should boycott ExxonMobil. I’ll never fill gas from their gas stations.
How many things did you write when they lost 22 billion a few years back ? DefundNPR
cathymcmorris is this Biden’s fault?
Jim_Jordan will investigate why they didn’t charge more !
Can’t wait until they go bankrupt from paying reparations to literally everyone alive and who will live
So they can pay back what they took in subsidies! Right?
exxonmobil should be ashamed of itself. Capitalism has failed this country and corporate greed is king.
Good
For perspective, that's on $414 B of revenue, a profit margin of 13.5%. Anyone blaming corporate profits for high gas prices either has no clue what they're talking about or is simply lying.
Could it do with instability of the oil market? Like keystone pipeline
Don't let anyone ever tell you that the President of the United States is causing inflation when its actually corporate greed just using global issues as a scapegoat.
Good for them, you know? They work hard, they play hard, and they do honest work. Never had an accident or ecological disaster or anything, either!
Inflation!
But Biden did or didn't do something, because he's the CEO of a publicly traded company n'shit. This is 100% free market capitalism. Stop buying gas guzzlers, take public transportation, use less gas. Supply and demand even though it's stacked against us.
Honestly suprised their ceo and board havent been dragged into the street and beaten to death
Wow. So what are we going to do about APPLE? Apple annual gross profit for 2022 was $170.782B, a 11.74% increase from 2021. Apple annual gross profit for 2021 was $152.836B, a 45.62% increase from 2020. ...
I think the word “earned” is doing a lot of heavy lifting in this headline. Scammed seems more appropriate.
Works well for people smart enough to invest in Energy Sector stocks. Consider investing in Energy to mitigate the expense of gas.
They are still keeping prices artificially high. Unless they're forced to reduce prices they will continue on their greedy path!
BILLION 😳
GREED in America
Inflation my ass!
Just gross!
Ofcourse it did!! That's what 10 months of blatantly gas raping will do!
Of course they did!
Infuriating…
But but but Biden was responsible for gas prices going up, right? Even Europe too right?That’s what all those stickers at the pumps told me. Or maybe he is responsible for them going down? Wait, I got it. The oil companies set their own prices arbitrarily and earn record profits
“Earned” hahaha Corporate greed is off the rails. At the expense of us ordinary people just trying to get by every day.
Biden allowed that
THIS SHOULD BE ILLEGAL
Cool
Yeah, it's called price gouging. And war profiteering.
But inflation....🙄
Surprise, surprise! F*cking gouging!
You mean gas is going back up now that the mid-terms are over?! Who could have predicted this? Color me shocked 🤡🤡
We know……..
American taxpayers subsidize this crap!!!
Tar and feathers is what this country needs.
And for the low low price of life on earth
hey gwr heres a horrible one
Corporate greed
'Earned'=gouged.
56 billion lol
“Earned”
Such greed on the backs of struggling Americans.
And I was so sure the oil companies were forced to raise prices or risk their demise. NOT!!!
But it’s Biden’s fault for gas prices…
Disgusting!!!!
Why didn’t Biden push the lower gas price button!
If you ever ask yourself...'Where does all the money go when gas prices get so high?'...I present to you...THE ANSWER.
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