BREAKING: Exxon & Chevron, $30B Q3 Profits, Shows More Outrageous Profiteering at Wisconsinites’ Expense as Ron Johnson Protects Big Oil Funders
MADISON, Wisc. – Today, just 11 days before the midterm elections, Exxon and Chevron reported more than $30 billion in quarterly profits between the two companies. Exxon reported $19.6 billion for Q3, a 191.26% increase over last year, an all-time record. Chevron reported $11.2 billion for Q3, an 89% increase. All told, in the first three quarters of the year, the oil and gas industry reported enough payments to their wealthy shareholders that they could give every American over $1,300 in cash. In a surprise to no one, they choose to keep this money for themselves, wealthy investors, and shareholders.
The tens of billions in Big Oil profits were collected as Senator Ron Johnson and other Republicans shielded their Big Oil contributors from the blame they deserve for price gouging and profiteering as Wisconsin families struggle to make ends meet.
Republicans like Senator Ron Johnson will stop at nothing to blame high prices on President Biden and the Democrats because their campaign coffers are funded by Big Oil’s record profits.
Senator Johnson has received more than $296,000 from the oil and gas lobby to support his reelection and more than $855,000 in his career.
Big Oil’s blockbuster Q3 reports also come as a new report this week reveals the lengths to which Big Oil has funneled millions to Republican Super PACs to support candidates like Senator Johnson that spread energy disinformation to protect the oil industry from their critics like Mandela Barnes.
Senator Johnson has not provided any meaningful solutions to stop this price gouging, lower costs for working families, or address the climate crisis. That’s a mistake – polling shows strong support for clean energy, and a majority of voters blame high energy prices on price gouging by fossil fuel companies.