How ‘Bout Those Oil Company Profits!

Letters to the editor are a powerful way to make sure your voice is represented in the media. Here’s one from Gary Sanders, long time progressive activist from Iowa City, published in the print version of the Cedar Rapids Gazette.  Yes, many of us still read actual newspapers.  Posted here with permission from the author.

Dear Editor,

Like most people, I’ve been worrying about the price of gasoline. Even my economical little 2016 Ford Focus eats up about $41 when I fill the tank.  I know that there are a lot of causes for high gasoline prices, but I have been wondering how the oil companies have been doing. I got my answer to that question on the front page of the July 30 Wall Street Journal:

 “Soaring Fuel Prices Catapult Oil Giants to Record Profits”

As reported in the Wall Street Journal, here are the oil giants profits for just the second quarter of 2022:

Exxon, the largest US oil company, reported profits of $17.9 billion, its highest ever!

Shell reported its second consecutive record profit–$16.7 billion!

Chevron also posted a record profit–$11.6 billion!

    You might want to chew on those numbers the next time you fill your gas tank.

Gary Sanders

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