Unprecedented profit for major oil drillers as prices soared

Posted on AllSides July 29th, 2022
From The Left

Oil companies swam in record profits over the last few months at a time when Americans struggled to pay for gasoline, food and other basic necessities.

On Friday, Exxon Mobil booked an unprecedented $17.85 billion profit for the second quarter and Chevron made a record $11.62 billion. The sky-high profits come one day after the U.K.’s Shell shattered its own profit record.

Soaring energy prices have rattled consumers and become a political flash point. Last month, President Joe Biden said that “Exxon made more money than God this year. ”

Consumers are facing...

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Associated Press

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