$2,245.62 a second: ExxonMobil scores enormous profit on record gas prices

[IronLionZion]

https://www.cnn.com/2022/07/29/energy/exxonmobil-chevron-earnings/index.html

New York (CNN Business)ExxonMobil and Chevron both reported record massive profits thanks to record gasoline prices during the quarter.

Exxon's profit, excluding special items, came to $17.6 billion in the second quarter, nearly double what it made in its very profitable first quarter as oil and gas prices started to soar in the wake of Russia's invasion of Ukraine. Second-quarter profit was up 273% from the same period a year ago.

Chevron earned $11.4 billion excluding special items, up 74% from the first quarter and 247% from a year ago.
Including one-time items, both earned hundreds of millions more: ExxonMobil's net income reached $17.9 billion, while Chevron brought in $11.6 billion.

ExxonMobil's net income came to $2,245.62 every second of every day of the 92-day long quarter. On that basis, Chevron earned $1,462.11 per second.

Since it takes about two minutes to pump 20 gallons of gas, that means between them the two oil giants earned more than $400,000 between them in the time it took you to fill you tank.

Yet idiots blame Biden.

[underpants]

1. Unbelievable

[Autumn]

3. Obscene.

[inthewind21]

4. But

But But it's all Biden's fault!

[gratuitous]

6. Please keep this little tidbit in mind

And when you see some ignoramus blaming Biden for high pump prices, point them to this article. Ask them if they see any connection whatsoever between Exxon's obscene prices and the gouging they took at their last fill up. And do they need a seeing eye dog?

[RestoreAmerica2020]

5. Just stunning..I say America boycott..close them down now! Walk,bike, carpool

..take public transit..but electric vehicles. Where's whats his name ..that grotesquely rich guy who wants to slowly populate Mars with his own..his..ok took me a minute to recall his name--Musk.

Com'on Musk cough up an incentive for Americans to buy electric..I'm thinking fucking 20,000 off ..and 1st replacement battery free..[ my son says that's why people are leery a out buying electric..batteries! ]. Haven't checked electric car manufacturers but they can all offer a minimum $10,000 incentive to get these fucking fossil fuel machines to the wrecking yard to make room for 21st century innovations.

[IronLionZion]

7. I walk or use transit as much as I can

my city has aggressive drivers and expensive parking so it's not worth driving to some places.

[Takket]

8. I know it is disgusting but...

We all knew they were exaggerating the gas prices to increase profits. There should be legislation to stop this. Can’t depend on them to police themselves.

[Yo_Mama_Been_Loggin]

9. I'm sure that comes as no surprise

[onecaliberal]

10. Share this far and wide.

[Bettie]

11. Someone explain to me how this isn't

price gouging.

They aren't 'sharing the pain', there are no shortages, this is just, well, piracy.

[ck4829]

12. K&R