'Thanks to Trump's Iran War, Big Oil Raking in $30 Million Per Hour in Windfall Profits'
"An analysis published by The Guardian on Wednesday estimated that the 100 biggest oil and gas companies have collectively raked in an extra $30 million per hour since Trump launched his war with Iran without any congressional authorization in late February."
"In just the first month of the conflict, The Guardian reported, Big Oil made $23 billion in windfall profits, and the industry is projected to haul in an additional $234 billion in windfall profits by the end of the year if the price of oil stays in the $100 range."
"The top beneficiaries of the Iran conflict are Saudi Aramco, which is projected to earn $25.5 billion in windfall profits by the end of the year; Kuwait Petroleum Corp., which is projected to earn $12.1 billion; and ExxonMobil, which is projected to earn $11 billion."
“ '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,' The Guardian noted. '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.' "
Continued at link:
https://www.commondreams.org/news/iran-war-windfall-profits
And in a 47-52 Vote, Senate Republicans just blocked another Iran War Powers Resolution...
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