The New York Times reported that the country’s 50 largest oil and gas companies raked in a massive profit from April to September. The $130 billion profit margin eclipses the $47 billion that these companies made during the same six-month period last year. The last comparable economic windfall was after Russia’s invasion of Ukraine in 2022, when the oil and gas industry made slightly higher profits.
Once again, it is massive corporations that stand to gain the most from violence and conflict.
“And while oil prices are temporarily high … the United States oil and gas business is making hundreds of billions of dollars.... Our country is making hundreds of billions of dollars ‘cause of what’s happened in the Middle East … trillions of dollars,” he told a rally crowd in Georgia on Saturday. “My people said, ‘Please don’t mention that sir, because people are paying a little higher’ ... I said, ‘I don’t give a damn, I’m gonna say it: We’re making a freaking fortune.’”
When the president says “we,” he means Exxon, Chevron, and Valero. Not you.
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