Published 1 year ago

Biden to spotlight oil companies’ huge profits amid high prices at the pump

Summary by Ground News

Exxon Mobil on Friday morning reported its highest earnings ever at $19.7 billion for the quarter, while Shell reported its second highest of $9.5 billion. The soaring profits in the third quarter of 2022 continue a trend of massive profits for the oil industry as Russia's invasion into Ukraine is driving up gas prices.

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Associated Press News

Biden to float windfall tax on energy producers

President Joe Biden on Monday will raise the possibility of imposing a ‘windfall tax’ on energy companies, as his administration aims to combat high gas prices just days before the midterm elections .

1 year ago·United States

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USA Today

Biden floats tax on oil companies that don't lower pump prices, increase production

Days before the midterm elections, President Joe Biden went after energy producers for raking in profits instead of lowering pump prices.

1 year ago·United States

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abc News

AP source: Biden to float windfall tax on energy producers

President Joe Biden plans to raise the possibility of imposing a ‘windfall tax’ on oil companies if they don’t boost domestic production

1 year ago·United States

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Washington Times

AP source: Biden to float windfall tax on energy producers

President Joe Biden on Monday will raise the possibility of imposing a 'windfall tax' on energy companies, as his administration aims to combat high gas prices just days before the midterm elections.

1 year ago·United States

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The Washington Post

AP source: Biden to float windfall tax on energy producers

President Joe Biden plans to raise the possibility of imposing a ‘windfall tax’ on oil companies if they don’t boost domestic production

1 year ago

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KIFI

AP source: Biden to float windfall tax on energy producers

By ZEKE MILLER and SEUNG MIN KIM Associated PressWASHINGTON (AP) — President Joe Biden plans to raise the possibility of imposing a ‘windfall tax’ on oil companies if they don’t boost domestic production. This comes as his administration aims to combat high gas prices just days before the midterm elections. The White House says Biden will deliver remarks on Monday to respond ”to reports over recent days of major oil companies making record-setti…

1 year ago·Idaho Falls, United States

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