ExxonMobil and Chevron posted their quarter one profits for 2022 and their profits merely double or quintupled from the prior year. I'm sure the Republic party will be OUTRAGED they're going to have to pay reduced taxes while reaping some of the highest profits in the history of both companies. It's worth noting ExxonMobil may have tripled it's prior year earnings if they didn't write-down a Russian endeavor, not that those assets are going anywhere, or that Russia announced seizing equipment or demanded a payout.
American's are facing their own records -- energy derived inflation in all things from food, consumer products, fuel expenses. But THANKFULLY that money is going into the pockets of gleeful oil industry executives. You know, the ones who have publicly stated they're keeping oil supply low to boost oil prices.
https://oilprice.com/Energy/Energy-G...ices-Soar.htmlExxon And Chevron Post Blockbuster Earnings As Oil Prices Soar
ExxonMobil (NYSE: XOM) doubled its earnings to $5.5 billion for Q1 compared to the same period of last year, despite a $3.4 billion after-tax charge related to its decision to exit the Russia Sakhalin-1 project.
Chevron (NYSE: CVX), for its part, reported adjusted earnings of $6.5 billion, or $3.36 per diluted share, for first quarter of 2022. That’s more than triple the adjusted earnings of $1.7 billion for the first quarter of 2021, and the highest quarterly earnings for Chevron since 2012.
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