Big Oil majors booked profits of a combined $174 billion for the first nine months of the year as they focused on returning cash to shareholders instead of boosting production to arrest a price rally, The Guardian reported this week, citing a report shared exclusively by Accountable.US, a government corruption watchdog.
According to the information in the report, the 24 biggest oil companies made $74 billion in net profits, with Accountable.US accusing the majors of "taking advantage of bloated prices, fleecing American families along the way."…Big Oil Posts $174 Billion In Profits This Year: Report
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