NEW YORK (AP) — 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.
High energy prices have caused political tension
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.”