SHOT: Biggest Five Oil Corps Make $116 Billion in 2023 as ConocoPhillips Reports $10.6 Billion

WASHINGTON, D.C. – This year, the biggest five oil and gas corporations together brought in a staggering $116 billion in profits. ConocoPhillips, the last of the big five today reported $2.9 billion in Q4 profits, with $1.4 billion spent on dividends and $1.1 billion on stock buybacks. As Big Oil made billions off the backs of working families this year, NOAA announced that 2023 was the hottest year on record and projections show that 2024 is on track to set more records.  And tonight, climate denier Donald Trump, is set to win the caucuses in Nevada where Reno and Las Vegas lead the nation as the first and second-fastest warming cities in the U.S.

“In 2023, Big Oil let the world burn as long as the profits continued to roll in,” said Climate Power’s senior advisor for oil and gas, Alex Witt. “Big Oil is projected to rake hundreds of billions this year on the backs of hardworking families – while the fossil fuel industry continues to pollute our air and water. President Biden has stood up to the oil and gas industry, while Donald Trump appointed fossil fuel lobbyists to key climate positions and continues to beg the oil lobby for money to cover his legal bills.”

President Biden’s climate plan is moving the U.S. away from reliance on profiteering oil and gas companies. In the year since the clean energy plan became law, businesses have announced more than 210,000 new clean energy jobs across 45 states and Puerto Rico totaling $310 billion in new investments. If elected, Donald Trump has promised to gut President Biden’s historic climate investments, giving Big Oil license to keep polluting.