Stalin
Well-Known Member
- Joined
- Apr 4, 2008
- Messages
- 4,379
did you know that the greedy oil companies get over a trillion dollars in subsidies ??
"...According to an investigation by the Guardian, the results of which were published on Wednesday, with oil at around $100 per barrel the major oil conglomerates in Saudi Arabia, Russia, the United States, Britain and Europe will collect an additional $234 billion in profit for 2026, an extra inflow of $30 million an hour for the rest of the year.
The biggest winner is Saudi Arabia’s Aramco, which is expected to make a war profit of $25.5 billion, with the Russian petro-giants set to make an additional $23.9 billion.
The US firm ExxonMobil will take in an additional $11 billion. Shell’s revenue will rise by $6.8 billion, and Chevron stands to make an additional $9.2 billion.
The additional profits are on top of the $1 trillion the oil industry takes in every year while receiving explicit subsidies which totalled $1.3 trillion in 2022, according to calculations by the International Monetary Fund.
There are other benefits as well flowing from the rise in share prices. The market value of ExxonMobil has increased by $118 billion, while that of Shell is up $34 billion.
as is now normal, the worst people in the world are cashing in
Apart from the oil producers, trading firms which deal in oil, food, metals and other necessary commodities, largely dominating global markets, are already cashing in. The Wall Street Journal reported that the Swiss commodities trader Gunvor said it had already made as much money in the first quarter of this year as it did in all of 2025 when it made a profit of $1.6 billion. Others will be experiencing a similar boost.
Also not surprisingly, US arms manufacturers have been cashing in. On the first day of the US attack on Iran major firms recorded a rise in their total market value of up to $30 billion.
The profit and price gouging extends across the US economy under conditions where, according to a recent article in the New York Times, corporate profits “have reached a record share of the US economy.” Corporate America intends to keep it that way.
Sonu Varghese, the global macro strategist at the Carson group, a financial firm, told the Times that many companies viewed inflation from “outside shocks,” such as war, “as an opportunity to raise prices and boost margins” and that there was going to be some “margin expansion.”
This points to a repeat of the experience of the inflation surge of 2022 when, as the Times reported, data from the US Producer Price Index “showed that wholesalers and retailers generally expanded the margin between their sales prices and their cost of acquiring goods.”
Major US banks have also been cashing in on the opportunities generated by the war. The six major US banks reported collective profits of $47.6 billion for the first quarter, much of it generated because market volatility provided conditions for significantly profitable trading.
comrade stalin
moscow
"...According to an investigation by the Guardian, the results of which were published on Wednesday, with oil at around $100 per barrel the major oil conglomerates in Saudi Arabia, Russia, the United States, Britain and Europe will collect an additional $234 billion in profit for 2026, an extra inflow of $30 million an hour for the rest of the year.
The biggest winner is Saudi Arabia’s Aramco, which is expected to make a war profit of $25.5 billion, with the Russian petro-giants set to make an additional $23.9 billion.
The US firm ExxonMobil will take in an additional $11 billion. Shell’s revenue will rise by $6.8 billion, and Chevron stands to make an additional $9.2 billion.
The additional profits are on top of the $1 trillion the oil industry takes in every year while receiving explicit subsidies which totalled $1.3 trillion in 2022, according to calculations by the International Monetary Fund.
There are other benefits as well flowing from the rise in share prices. The market value of ExxonMobil has increased by $118 billion, while that of Shell is up $34 billion.
as is now normal, the worst people in the world are cashing in
Apart from the oil producers, trading firms which deal in oil, food, metals and other necessary commodities, largely dominating global markets, are already cashing in. The Wall Street Journal reported that the Swiss commodities trader Gunvor said it had already made as much money in the first quarter of this year as it did in all of 2025 when it made a profit of $1.6 billion. Others will be experiencing a similar boost.
Also not surprisingly, US arms manufacturers have been cashing in. On the first day of the US attack on Iran major firms recorded a rise in their total market value of up to $30 billion.
The profit and price gouging extends across the US economy under conditions where, according to a recent article in the New York Times, corporate profits “have reached a record share of the US economy.” Corporate America intends to keep it that way.
Sonu Varghese, the global macro strategist at the Carson group, a financial firm, told the Times that many companies viewed inflation from “outside shocks,” such as war, “as an opportunity to raise prices and boost margins” and that there was going to be some “margin expansion.”
This points to a repeat of the experience of the inflation surge of 2022 when, as the Times reported, data from the US Producer Price Index “showed that wholesalers and retailers generally expanded the margin between their sales prices and their cost of acquiring goods.”
Major US banks have also been cashing in on the opportunities generated by the war. The six major US banks reported collective profits of $47.6 billion for the first quarter, much of it generated because market volatility provided conditions for significantly profitable trading.
Iran war brings massive price and profit gouging
Global oil companies are raking in additional profits at the rate of $30 million per hour as the result of the price hikes induced by the war.
www.wsws.org
comrade stalin
moscow
