WASHINGTON, (Reuters) – The White House today expressed outrage at record profits recorded by Exxon after the company reported net profit in 2022 of $56 billion.
A White House statement said the profit margin was particularly galling as Americans paid high prices at the pump and dismissed attempts by Republicans in the House of Representatives to push policies aimed at supporting the oil industry.
“The latest earnings reports make clear that oil companies have everything they need, including record profits and thousands of unused but approved permits, to increase production, but they’re instead choosing to plow those profits into padding the pockets of executives and shareholders while House Republicans manufacture excuse after excuse to shield them from any accountability,” the White House said.