Climate Power Releases New National Ad Blasting Big Oil For Profiteering as Families Suffer
Ahead of Q3 Profits, Six Figure Spot Criticizes Oil Companies for Corporate Greed
WASHINGTON, DC — Today, Climate Power announced a new national ad blasting oil and utility companies for price gouging Americans across the country. The over half a million spot, titled “Next Time,” will air nationally on CNN and MSNBC for the next three weeks, as oil and utility companies release their Q3 earnings and profits. In the first half of 2022, oil and gas companies profits skyrocketed to a historic, unprecedented $210 billion.
The new spot attacks oil and gas CEOs for raising prices on working families, while reminding viewers that the Inflation Reduction Act turbocharges America’s clean energy economy and lowers costs for families.
“It’s shameful that greedy oil and gas companies have raised costs on families—forcing them to make the difficult decision between heating their homes and buying groceries,” said Lori Lodes, Climate Power Executive Director. “Unfortunately, Big Oil’s greed is nothing new. The truth is working families are struggling to pay for gas because Big Oil is choosing to price gouge and enrich their CEOs and investors. We saw this last quarter when oil and gas companies reported that nearly $70 billion of their $116 billion profit went to executives and shareholders. We’ll learn in the next few weeks just how much oil and gas companies are exploiting people’s pain for profit.”
The next time you fill up the tank, remember why it costs so much.
Because the biggest oil companies decided they needed to profit even more.
They make record profits, even as Americans struggle to pay the bills.
Call it price gouging.
Call it greed.
Call it enough already.
With President Biden’s landmark bill, we are producing more clean energy than ever before.
Energy that’s made in America.
Energy that costs less for families.
Energy that will power our future.
Fossil fuel companies and CEOs profiteering is nothing new. As gas prices hit record highs the first six months of 2022, oil and gas companies profits soared as well, to the tune of $210 billion, making 2022 one of Big Oil’s most profitable years on record. Notably, as Chevron profited a total $17.5 billion in the first half of 2022, they rewarded their shareholders $13.5 billion. Over the next two weeks oil and gas companies will release their profits. Some notable oil companies include:
- Shell: October 27
- ExxonMobil: October 28
- BP: November 1
- ConocoPhillips: November 3
- Chevron: November 4
Despite gas prices dropping nationally, Big Oil and their congressional supporters are spreading misinformation and pushing a fictitious war on energy. While they claim that the U.S. isn’t producing enough energy domestically, or that the Biden administration isn’t acting to reduce oil costs as OPEC+ cuts output, in reality, domestic energy production has never been higher.