Exxon Mobile is criticized for $56 billion profit
The White House expressed a negative assessment of the record profit of Exxon Mobile in 2022. The company earned $56 billion, and it’s a maximum for both itself and the whole oil industry of Western countries.
The profit of oil companies may reach $200 billion in 2022. This created a new wave of criticism and calls for more countries to levy additional income taxes on oil producers.
A White House statement said that the amount of Exxon’s profit is dislikable because the Americans were forced to endure record high prices at the stations.
According to this statement, oil companies have all the necessary resources, record profits, and many approved but unused permissions to increase production. However, companies instead continue to increase profits for shareholders and executives.
Exxon's CFO Kathryn Mikells responded to criticism and said that a tax increase isn’t a way out. She thinks that it is wrong to tax something from which they seek to increase profits.
Demand for gold surged to an 11-year high last year. This is due to large-scale purchases on the back of high activity by retail investors and a slowdown of ETF outflows.
1 FebruaryThe White House expressed a negative assessment of the record profit of Exxon Mobile in 2022. The company earned $56 billion, and it’s a maximum for both itself and the whole oil industry of Western countries.
1 FebruaryThe US Interior Department’s Bureau of Land Management supports an accelerated plan of oil production. It includes 3 new wells across the Willow site in the Petroleum Reserve-Alaska, instead of having 5 wells predetermined earlier.
1 FebruaryOn February 2, the focus is on natural gas reserves in the United States. On February 3, data on oil rigs from Baker Hughes and speculative positions on oil and gas, gold, silver, aluminum and copper are on the agenda.
2 FebruaryJapan was buying aluminum at a surcharge. Shipments from January to March were at $85-86 per ton, which is 13-14% less than in the previous quarter. Resources report weak demand and strong reserves of aluminum.
1 February