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ExxonMobil Makes Record-Breaking $59 Billion in Profits

HeadlineFeb 01, 2023

ExxonMobil announced a record-smashing $59 billion in profits last year, up by over 150% from the previous year. This comes after Chevron recently announced $35.5 billion in 2022 profits, also a new record. Climate groups say the massive earnings underscore the need for a windfall profits tax. The group Stop the Oil Profiteering said, “We’re paying more for gas and electricity because Big Oil companies are gouging Americans and benefiting from a rigged system that keeps prices high in times of war and crisis.”

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