Biden to spotlight oil companies’ huge profits amid high prices at the pump ...Middle East

President Biden will deliver remarks Monday highlighting reports of huge profits raked in by oil companies, while Americans are facing high prices at the pump. Exxon Mobil on Friday morning reported its highest earnings ever at $19.7 billion for the quarter, while Shell reported its second highest of $9.5 billion. The soaring profits in the third quarter of 2022 continue a trend of massive profits for the oil industry as Russia’s invasion into Ukraine is driving up gas prices. Biden will give remarks at 4:30 p.m. at the White House on “reports over recent days of major oil companies making record-setting profits even as they refuse to help lower prices at the pump for the American p

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