The economic recovery from the COVID-19 pandemic and Russia’s invasion of Ukraine sent oil prices skyrocketing this year, bringing extremely high profits to energy companies. In recent weeks, companies including ExxonMobil, Chevron, Shell and BP reported billions of dollars in 2022 profits, many of which broke records. The announcements spurred political backlash, including from the White House, as Democrats seek to draw a contrast between the pay the companies receive and the economic struggles of ordinary Americans. “You may have noticed that Big Oil just reported record profits. Last year, they made $200 billion in the midst of a global energy crisis. It’s outrageous,” Presi
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