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Big Oil Soars as Consumers Struggle | Guyana News
Big Oil is cashing in as global oil prices soar—ExxonMobil and Chevron raked in over $14 billion and $12 billion respectively last quarter, fueled by Middle East and Eastern Europe conflicts disrupting supply. Their refining divisions are also booming, with record-high margins on gasoline, diesel, and jet fuel due to reduced global capacity. While this windfall echoes past boom cycles—including Exxon’s $22 billion pandemic loss—it’s hitting consumers hard: Americans have paid $76 billion more at the pump. Even industry allies are now calling for price transparency and faster relief as Big Oil…
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