A Biden statement trying to tackle May inflation data was harsh — both for the oil industry as a whole and for Exxon in particular. “Why don’t they drill? Because they make more money without producing more oil,” he said. “Exxon, start investing and start paying your taxes.” The President also said that everyone would know how much profit Exxon had. “Exxon made more money than God last year.” In terms of taxes, Exxon Income Taxes for the first quarter of 2022 alone were $ 2.8 billion, with income taxes for the entire year 2021 at $ 7.6 billion, according to Macrotrends and CSI Market . Biden’s statement against oil follows a similar statement Thursday, with National Economic Council Deputy Director Bharat Ramamurti telling CNN in a telephone interview: “It is outrageous that oil and gas companies can benefit and benefit profits from what they have. it happened when there was no war. ” Asked if the White House was backing a proposal for an unexpected profit tax, Ramamurti said they were “open to many different ideas. We realize there is a problem here that we have to deal with”. By Julianne Geiger for Oilprice.com More top readings from Oilprice.com:
