#warprofiteering

Nonilex @Nonilex@masto.ai · Jul 31, 2026

Replying to @Nonilex@masto.ai

“When you compare that to the hundreds of millions of people who are struggling with rolling #blackouts, with #electricity curbs, #rationing, waiting in line for #food queues, or the disruption to #fertilizers & the potential impact that that has on food #prices, we don’t think that it’s a justifiable price for the rest of the world to be paying,” Galey added. #BigOil #WarProfiteering #FossilFuels #ClimateChange #TrumpsWar #IranWar #US #Iran #Trump #economy #inflation #affordability #oil #energy

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Nonilex @Nonilex@masto.ai · Jul 31, 2026

Replying to @Nonilex@masto.ai

#Energy companies such as #Exxon & #Chevron do not set the price of #US #oil, which ricocheted from $68 to $115 a barrel during the quarter. It’s driven by supply & demand, & what traders, refiners & other buyers are willing to pay. Nevertheless, #Democrats in #Congress introduced bills in March to tax major oil producers for profits they show from 2026 onward & have the tax proceeds redistributed to #consumers. #BigOil #WarProfiteering #FossilFuels #TrumpsWar #IranWar #economy #affordability

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Nonilex @Nonilex@masto.ai · Jul 31, 2026

Replying to @Nonilex@masto.ai

Six of #Europe’s largest #oil companies posted combined first-quarter profits of $22 billion, more than 40% higher than last year. “There are constituencies around the world who are having a very good crisis, & the oil producers are one of them,” said Patrick Galey, #FossilFuels lead at Global Witness, a nonprofit organization that investigates environmental issues. #BigOil #WarProfiteering #ClimateChange #TrumpsWar #IranWar #US #Iran #Trump #economy #inflation #CostOfLiving #EnergyCrisis

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Nonilex @Nonilex@masto.ai · Jul 31, 2026

Replying to @Nonilex@masto.ai

The money that #oil companies accrued between the beginning of April & the end of June could receive extra scrutiny this year. #Gasoline, #diesel & #JetFuel prices climbed sharply during that period, increasing costs for drivers & airline passengers. Supplies ran low in some countries, leading to sporadic #fuel #rationing in Australia & government office closures in Nepal & Sri Lanka. #BigOil #WarProfiteering #ClimateChange #TrumpsWar #IranWar #US #Iran #Trump #economy #affordability #energy

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Nonilex @Nonilex@masto.ai · Jul 31, 2026

Replying to @Nonilex@masto.ai

#ExxonMobil on Friday reported that its second quarter profits doubled to $14.53 billion, boosted by record #diesel production. The #oil giant, based in Spring, Texas, brought in $116.02 billion in revenue, up 42%. #Chevron, based in Houston, nearly quadrupled its profits to $12.07 billion & revenue jumped 56% to $70.06 billion. #BigOil #WarProfiteering #FossilFuels #ClimateChange #TrumpsWar #IranWar #US #Iran #Trump #economy #inflation #affordability #CostOfLiving #oil #energy #EnergyCrisis

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Nonilex @Nonilex@masto.ai · Jul 31, 2026

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