Oil Companies do
🛢️ High prices have been good for Chevron and Exxon. While most of the world sees high diesel prices as a cause for concern, the CEOs of Chevron and ExxonMobil probably don’t. Both companies reported windfall Q3 profits yesterday amid prices being driven up by wars in Iran and Ukraine. Chevron’s profit grew to $9.9 billion, almost 200% compared to the same period last year, while Exxon’s profit doubled to $15.4 billion. Both companies’ stocks touched record highs yesterday. But all that profit isn’t great for political optics, with gas and diesel prices high and the midterms looming—President Trump said both companies were making “too much money” in August.
Comments