Big Oil Makes Huge Q2 Profit As Trump Continues to Beg Industry for Campaign Cash 

Washington, D.C. – Big Oil’s heaviest hitters reported $25.3 billion in profits, $11.6 million in dividends, and $15 billion in stock buybacks, all while the industry continues to power Donald Trump’s campaign fundraising. Trump promised to implement their pro-polluter agenda while asking the industry for  $1 billion in campaign donations. Fossil fuel lobbyists even wrote the first chapter of his Project 2025 playbook. Ultrawealthy CEOs know that a $1 billion fundraising investment in his campaign isn’t just a discount – it’s a steal. 

This quarter: 

• Exxon reported $9.2 billion in profits, with $4.3 billion spent on dividends and $5.2 billion on stock buybacks. 
• Chevron reported $4.7 billion in profits and spent $3 billion on dividends and $3 billion on stock buybacks.
• BP reported $2.8 billion in profits, with $1.2 billion spent on dividends and $1.8 billion on stock buybacks.
• Shell reported $6.3 billion in profits, with $2.2 billion spent on dividends and $4 billion on stock buybacks.
• ConocoPhillips reported $2.3 billion in profits and spent $915 million on dividends and $1 billion on stock buybacks.

Climate Power’s senior advisor for oil and gas Alex Witt released the following statement: “Big Oil’s huge profits are a preview of the bigger payouts they’re plotting to get from Donald Trump at the start of his day one dictatorship,” said Climate Power senior advisor for oil and gas Alex Witt. “The industry is literally writing Trump’s plan for a second term and he’s promised to rubber stamp their pro-polluter agenda. Vice President Harris’ long record of holding Big Oil accountable for putting harmful chemicals into our air and water and ripping off the middle class has them frantically cutting checks before they’re out of time.”