Big Oil Wages ‘All-out War on American Consumers’ While Racking up Billions in Profits

ExxonMobil and Chevron, the largest oil companies in the U.S., posted respective third-quarter profits of nearly $20 billion and $11.2 billion on Oct. 28 as American consumers continue to face high prices at the pump, intensifying outrage from advocates and lawmakers who say the corporations are actively fleecing the public.

April 1, 2023 | Source: The Defender | by Common Dreams

ExxonMobil and Chevron, the largest oil companies in the U.S., posted respective third-quarter profits of nearly $20 billion and $11.2 billion on Oct. 28 as American consumers continue to face high prices at the pump, intensifying outrage from advocates and lawmakers who say the corporations are actively fleecing the public.

“It’s no surprise that after months of extreme price gouging, Chevron and Exxon raked in a whopping $73 billion in profits so far this year,” said Jordan Schreiber, director of energy and environment at Accountable.US.

“But, instead of providing badly needed relief to consumers, they spent over $32 billion to enrich their wealthy shareholders while forcing American families to foot the bill.”

“Make no mistake,” Schreiber added, “Big Oil has launched an all-out war on American consumers this year, needlessly extracting every last dime out of working and middle-class people.”