WEEK AHEAD: With $60 Billion Profits Already Announced, Big Oil Set to Rack Up Billions More

Oil Companies are Price Gouging Americans Families at the Pump, While Rewarding Rich Investors

WASHINGTON, DC — Last week, some of the biggest oil and gas companies released their third quarter profits, breaking profit and buyback records, while working families continue to pay inflated prices at the pump. 

This upcoming week, we’ll see continue to profits come out from Big Oil, including: 

Here are some of last week’s staggering profits: 

Inflated gas prices and skyrocketing record profits is nothing new for Big Oil. According to a new study, surplus cash for the industry could nearly double, potentially reaching $1.4 trillion. And instead of lowering costs to consumers, oil companies are using their profits to elect MAGA Republicans in office, who plan on repealing the Inflation Reduction Act, and ensuring that Big Oil continues to make staggering profits with little oversight.