Oil companies love times like this, and people who invest in these companies love it too. Exxon Mobil, Chevron report record earnings https://www.msn.com/en-us/money/mar...report-record-earnings/ar-AA106oqd?li=BBnb7Kz July 29 (UPI) -- Exxon Mobil and Chevron reported record profits in the second quarter that shattered industry estimates, resulting in soaring stock prices Friday as futures for U.S. crude oil spiked nearly 3%. Exxon Mobil Corp. posted $17.9 billion in earnings in the second quarter while Chevron reported earnings of $11.6 billion during the same three-month period, more than tripling last year's second-quarter earnings of $4.7 and $3.08 billion respectively. The news comes a day after Shell Corporation announced $11.5 billion in second-quarter earnings, aided by high prices for gasoline and natural gas, which have both been affected by Russia's war in Ukraine. "Earnings and cash flow benefited from increased production, higher realizations, and tight cost control," Exxon chairman and CEO Darren Woods said in a statement. Energy stocks have made tremendous gains this year driven by the surge in cost for oil and gas. The Biden administration has been pressuring the oil industry to increase output as surging inflation and historic gas prices continues to make life miserable for millions of Americans still struggling financially from the pandemic. The companies said they are dealing with labor and supply chain issues that have strained business as usual.
US Government collects record profits.. no, I mean, Taxes... https://www.usgovernmentrevenue.com/current_revenue Liberals entirely ignore this.
And zero republicans will be able to comprehend this coupled with the massive cuts made by OPEC could be causing higher than normal fuel prices. I bet the deflections will be instantaneous.
Why would they ignore record revenues? They are probably smiling and rubbing their hands together. State revenues are hitting records too due to rapid appreciation of housing values, which equates to record property tax revenue. Heck, California had a massive budget surplus. You are not making much sense.
soooooo, it's no longer Trrrruuummmppp, it's no longer Pooootttin, it's now those eeeevil oil companies they are the reason we are in a recession and experiencing hyper-inflation...................got it
You are the only one here who has mentioned Trump, Putin, evil corporations or hyper-inflation. Project much?
It’s a combination of events and past and present leadership along with global issues. Too much nuance, I know.
