The Lie of Gas Prices. Spoiler Alert: Big Oil Made Profits During the US War with Iran.
Right now, you are being gouged at the gas pumps.
The US war with Iran isn’t a reason why prices are so high?
How do we know?
Look at the profits US and Canadian gas companies are making right now:
Exxon’s second-quarter profit more than doubled to $14.5 billion, while Chevron’s profit rose from approximately $2.5 billion to $12.1 billion. ConocoPhillips’ quarterly earnings increased from $2 billion to $3.9 billion, despite some disruption to its Qatar production.
Yes.
The broad US energy fund XLE gained approximately 13.5% between 27 February and 5 October, excluding dividends.
Exxon Mobil gained about 7.5%, rising from $152.50 to roughly $164.
Chevron gained about 10.6%, rising from $186.76 to $206.47.
You are being hosed at the pump. There is absolutely no need to pay these prices considering the significant profits being made.
Which impacts shipping, the price of food, and the standard of living.
Yet the US and Canadian governments are doing zip about it.
So, how long are you going to keep silent and let billionaires steal more of your pennies?

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