“When you compare that to the hundreds of millions of people who are struggling with rolling #blackouts, with #electricity curbs, #rationing, waiting in line for #food queues, or the disruption to #fertilizers & the potential impact that that has on food #prices, we don’t think that it’s a justifiable price for the rest of the world to be paying,” Galey added.
#BigOil #WarProfiteering #FossilFuels #ClimateChange #TrumpsWar #IranWar #US #Iran #Trump #economy #inflation #affordability #oil #energy
#Energy companies such as #Exxon & #Chevron do not set the price of #US #oil, which ricocheted from $68 to $115 a barrel during the quarter. It’s driven by supply & demand, & what traders, refiners & other buyers are willing to pay.
Nevertheless, #Democrats in #Congress introduced bills in March to tax major oil producers for profits they show from 2026 onward & have the tax proceeds redistributed to #consumers.
#BigOil #WarProfiteering #FossilFuels #TrumpsWar #IranWar #economy #affordability