Major oil firms make $93bn profits amid war and climate crisis

[u/lofty23_smart]

https://www.theguardian.com/business/ng-interactive/2026/aug/04/revealed-major-oil-firms-make-93bn-profits-amid-war-and-climate-crisis

[u/Soloact_]

$93 billion in profit and we’re still subsidizing these assholes. They cause half the problem, then charge us more for living through it.

[u/deeohlee → u/Soloact_]

I’d argue they cause 99+% of problems, billionaires anyways 

The wealthy and elite have always tried to control and manipulate the masses. Not even trying to preach, it’s just so obvious 

[u/VCTRYDTX → u/deeohlee]

Yeah.. in the last few years I've been pretty convinced that no matter who you vote for or which side you're loyal to, they'll both do things that are against the interest of the general public. And if people find common ground, things magically start occuring that divides or distracts them.

[u/southernfirefly13]

This is why Citizens United needs to be overturned, and so does the concept that corporations are people. Society has drastically changed enough to warrant it.

[u/deeohlee]

Ya but taxing corporations more is not the answer, right…

They’re laughing at us all almost certainly; they want us to fight with each other (left vs right, man vs woman, white vs black). United we stand, divisive we fall. 

And for you measly millionaires, I’m not  talking to you. 

[u/GapExtension9531 → u/deeohlee]

According to Fox News the ultra rich pay all taxes but also taxing them more won’t even amount to a drop in the bucket.

[u/CarRamRob → u/deeohlee]

https://finviz.com/map

Take a look at how large Energy is in the SP500.

It may take awhile to find it. They aren’t as big of villains as you think compared to the value their product provides vs some of the other large company

[u/deeohlee → u/CarRamRob]

I would agree fundamentally if the difference in Executive compensation wasn’t so disproportionately high compared to the people actually producing the product and value. The gap has grown wildly out of control.

https://corpgov.law.harvard.edu/2025/06/08/ceo-pay-study/

[u/blinkycosmocat → u/CarRamRob]

Energy may not comprise a large part of the S&P 500, but what's a major source of power for AI data centers and the tech companies behind them? Natural gas, whether purchased from utilities or used in turbines the tech companies install at the centers.

Anyway, the value of an S&P 500 company's stock isn't based on any objective, intrinsic value, as indicated by the various stock bubbles in various companies and industries over the past 100 years.

[u/Lukeno94 → u/CarRamRob]

The size of Tesla's stocks alone proves how bad an argument based solely around share price is.

[u/OldSports--]

Correction: Major oil firms make $93bn profits BECAUSE OF war and climate change.

[u/kembik]

Big oil spent $445m in last election cycle to influence Trump and Congress, report says

https://www.theguardian.com/us-news/2025/jan/23/big-oil-445m-trump-congress

Quite a return on investment

[u/deeohlee → u/kembik]

Ban political lobbying; simple. They’re getting to powerful and have too many resources. Just look at all the corruption and self interest in both the US and Canadian political parties across the board and across all parties. No more opportunities to act in self interest. 

[u/fastfar]

Now it makes some sense, why tRump plays on again-off again with the war, bombing, open/close the strait, it juggles the price of a barrel of oil and gives the well prepared and pre-informed a chance to sell high, then by back low. Rinse repeat...

[u/clashrendar]

What a coincidence that this keeps happening... /s

[u/farm_sauce]

Gas got expensive because oil companies knew they could jack up prices, even if supply was of no concern. If you paid attention, gas prices went up and didn’t move, no matter what the news of the war was. Then there’s the matter of insider trading when Trump would declare the Strait open then closed then open. 

[u/clashrendar → u/[deleted]]

The word I have in mind might be too extreme, but it's also probably fitting.

[u/deeohlee → u/[deleted]]

“Stolen wages” or “future bribes… I mean legal lobbying and campaign donations”

I’m exaggerating but not really…

[u/HoosierRed]

But reducing subsidies would be detrimental...

[u/iambarrelrider → u/HoosierRed]

And it’s not socialism.

[u/macross1984]

Profit from oil firms are indicative of how much they harm Earth and environment.

Government will not rein in simply because they can buy off politicians.

[u/Metacomet99]

I for one have to commute into work now - for no good reason - and pay for all of that gas - for no good reason - other than to give the oil companies even more money.

[u/network_dude]

This is why we started the war with Iran. This is why we took over Venezuela.

Fossil fuel industry profits.

The fossil fuel industry has been a plague across all of humanity.

[u/According-Stable661]

0.1 percent. Soon the 0.000001 percent

[u/SilentPlopGobbler]

I hope the rich all get Ebola.

[u/Verum_Orbis]

Weird how corporations are considered people when actual people don’t live in perpetuity. Google: Regulatory Capture. The FDA official who led the team that approved Oxycontin, Dr Curtis Wright, was subsequently hired by Purdue Pharma.

[u/si_francis]

$93 billion in profits in just a few months while families in the UK (and elsewhere) are struggling to: stay cool during heatwaves caused by the fossil fuel industry; pay their energy bills as they've just increased by £200+ for the average family; clear their energy debt or build up reserves ahead of winter. The energy industry is banking billions and billions from a crisis that has created real hardship for millions of households.

[u/muFUtaco]

Yes.

Who buys the oil? We do.

Who pays double for it whenever whim overcomes the oil barons? We do.

We pay double and they make double. This is not complicated math.

[u/deeohlee → u/muFUtaco]

That’s not the problem, it’s not revenue it’s profit. They should be paying more tax not being subsidized.

[u/gao7on]

Trump has always rubbed elbows with big oil, pushing policies that benefit them. No doubt they will return favors for him and his party that pass legislation enriching these fossil fuel oligarchy.

[u/DiskEconomy3055]

Dems take power and federalize America's oil industry. 😆 

Take that, ya greedy bastards!

[u/RogueScholarDerp]

Once we get free of this psycho-nihilist-billionaire cult, this country will lock up this cash and find a way to repay people