Energy company profits
Yes, profits, profits, and more profits:
Shell, Exxon, and Chevron have raked in $104 BILLION in profits so far this year.
— Public Citizen (@Public_Citizen) October 28, 2022
That’s more than TRIPLE last year’s profits.
Inflation has always been an excuse for their greed. pic.twitter.com/lBaPURU6tx
Where do the profits go? If you listen to the oil companies, back to the consumers:
"There has been discussion in the US about our industry returning some of our profits directly to the American people. That's exactly what we're doing in the form of our quarterly dividend," Exxon's CEO said https://t.co/2oAg6u5Cri
— Bloomberg Green (@climate) October 28, 2022
Really? Dividends? Why does this not make me feel any better?
And then there are buybacks:
Shell will buy back $4 billion worth of shares and increase its dividend by 15% after posting another gigantic quarterly profit thanks to strong oil and gas prices https://t.co/WnrDRHGFGf
— CNN (@CNN) October 27, 2022
So, who is to blame for high gas prices?
Thank goodness, West Virginia’s Shelley Moore Capito knows who is responsible for the rise in energy prices:
This administration is fiercely determined to kill the oil and gas sector and baseload power sector in this country—rule-by-rule—executive action by executive action and hardworking Americans are paying for it at the pump.
This, of course, has been Capito’s argument against the Biden administration since Day 1 of the Biden presidency. But that’s not what the evidence suggests:
There's been lots of misinformation circulating about Biden "destroying" US energy production.
— Karin Kirk (@karinkirk_mt) October 18, 2022
Here are 3 graphs that show what's actually happening. Energy production of oil & gas and renewables are ALL growing, and net exports are at record highs.
Re-use and share freely. pic.twitter.com/ykbTHFkk4L
Of course, Capito feels free to assert whatever – she knows that no state stenographer will ever call her out on her claims. She also knows that energy interests are a significant contributor to her campaign fundraising:
$415,000 -- Not too bad.
