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Oil Giants Profit as Global Crises Spike Prices | Raleigh News
Oil giants are reaping record profits as global tensions spike fuel prices and disrupt supply chains, with ExxonMobil and Chevron poised to report massive earnings. While consumers face shortages and rationing in places like Australia, Nepal, and Sri Lanka, Europe’s top oil firms saw a 43% profit surge in Q1. Companies with integrated production and refining operations are especially thriving amid record refinery margins. Now, lawmakers are pushing for a windfall profits tax to redistribute gains back to the public, targeting firms with high daily output and profits above last year’s average…
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