WATCH: ExxonMobil’s Third Quarter Profits Higher Than 41 Countries’ GDP
Five of the world’s major oil companies made a combined $27 billion in profits during the third quarter of 2023 — filling the pockets of oil giant CEOs while people in the U.S. struggle with the impacts of the climate crisis.
ExxonMobil reported an estimated $9.1 billion in profits, which exceeded the GDP of 41 countries.
‘Once again, the largest Big Oil companies reported multi-billions in profits, and their CEOs, executives, and shareholders benefited while the families they’re ripping off struggle to make ends meet,’ said Alex Witt, Climate Power’s senior adviser for oil and gas.
‘Here on the Gulf Coast, we’ve been on the front lines for decades — fighting oil and gas companies that pollute our communities, and often paying the price for them to rake in billions,’ said Rev. Lennox Yearwood, president and CEO of the Hip Hop Caucus. ‘Now with the climate crisis accelerating, the rest of the country is feeling it, too. It’s time to divest from fossil fuels and commit to a future where we all can thrive.’
This was made with support from Climate Power.