"The excess profits come from the pockets of ordinary people as they pay high prices to fill up their vehicles and power their homes, as well as from businesses incurring higher energy bills."
"Dozens of countries have cut fuel taxes to help struggling consumers, meaning those nations, including Australia, South Africa, Italy, Brazil and Zambia, are raising less money for public services."
The oil and gas industry has seen significant profit increases since the onset of Trump's conflict with Iran. An analysis revealed that the top 100 oil and gas companies earned an additional $30 million per hour since the conflict began. In the first month alone, the industry made $23 billion in windfall profits, with projections indicating a total of $234 billion by year-end if oil prices remain high. Major beneficiaries include Saudi Aramco, Kuwait Petroleum Corp., and ExxonMobil, while consumers face rising fuel costs.
Read at Truthout
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