A White House statement says Exxon Mobil's profit margin is particularly galling as Americans paid record-high prices at the pump.
Exxon Mobil Corporation
Oil majors are expected to break their own annual records due to high prices and soaring demand, pushing their combined take to near $200 billion. The scale has brought renewed criticism of the oil industry and sparked calls for more countries to levy windfall profit taxes on the companies.paid record-high prices at the pump
“The latest earnings reports make clear that oil companies have everything they need, including record profits and thousands of unused but approved permits, to increase production, but they’re instead choosing to plow those profits into padding the pockets of executives and shareholders while House Republicans manufacture excuse after excuse to shield them from any accountability,” the White House said.for much of the last year for enjoying surging profits as gasoline prices soared.
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