Tuesday, January 31, 2023

Gas Prices

Hmm. I wonder why gas prices were so high last year?
The oil industry has begun reporting its huge profits from this past year. Exxon Mobil Corp announced on Tuesday that it had its highest-ever annual profit, pulling in $55.7 billion in 2022.
Well, that's just one company.
Oil majors Exxon Mobil, Chevron, BP, Shell and Total Energies are slated to report a combined profit of $190 billion for 2022 when their final quarterly results are released in the coming days, according to estimates from analysts collated by Refinitiv.
Okay, they gouged the crap out of us. Well, at least they could use this profit to invest in clean energy or safer, more secure infrastructure, right?

Oops. Guess not.
Chevron, which just announced its largest annual profit year of $36.5 billion, has also announced plans to begin a $75 billion stock buyback program that will start on April 1, 2023.
All that profit won't go into lowering gas prices for the rest of us or helping fight climate change. It will go right back into the pockets of shareholders. Perfect.

(Oh, and in case you've forgotten, the U.S. provides about $20 billion every year in subsidies to these hugely profitable companies.)

We need to stop subsidizing them and tax the shit out of these greedy, selfish assholes.


ahtitan said...

.............but her emails! Hunter Biden! Drag Queens!

Ipecac said...

You make a persuasive argument. I'm convinced. Go MAGA!