“Big Oil poised to smash annual profit records — sparking outcry from campaigners and activists”
January 27, 2023
“Some of the world’s largest oil and gas companies are poised to report record annual profits, raking in extraordinary revenues following a year of volatile fossil fuel prices amid Russia’s onslaught in Ukraine.
Oil majors Exxon Mobil, Chevron
, BP, Shell and TotalEnergies 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.
Flush with cash, the energy giants are expected to use their windfall profits to reward shareholders with higher dividends and share buybacks…”
It’s not the oil companies fault governments around the world shut down pipelines and halting construction of new ones. It’s the governments that created this problem and now they want to blame companies for making profits.