Politics
Oil companies heist is so blatant even Trump is complaining
Ecocidal oil companies are raking in so much money that even the most corrupt American president in history – Donald Trump – has to make a public show of disapproval at least.
US-based Chevron reported its largest quarterly net profit ever, at $12.1 billion; ExxonMobil’s $14.5 billion second-quarter income and Shell’s $10.8 billion in net earnings represented their most profitable quarters spince 2022, when they previously benefited from the Russia-Ukraine war.
Trump pipes up
Trump told reporters on Monday:
I don’t like it. Chevron, too much money. ExxonMobil, too much. Too much money.
You going to stop taking their money then, Trump? Of course not!
Redistribution for the worse
The Iran war is a redistribution machine: Big oil profits have shot up to historic highs. Our research shows that 50% of fossil fuel profits go to the richest 1% in the U.S. The rich are the ultimate beneficiaries of the war windfalls. The bottom 50% claim a mere 1% of profits… pic.twitter.com/lh1XJVtEY4
— Isabella M Weber (@IsabellaMWeber) August 1, 2026
She also lashed out at JP Morgan CEO Jamie Dimon’s record quarter and for him saying the banking environment was ‘close to as good as it gets.’
War kills.
War makes life unaffordable for the many.
But war is great for profits.
“Profits accounted for 13.9% of US economic output in the first quarter, the highest share recorded.”
JPMorgan CEO Dimon said the environment was “getting close to as good as it gets”. pic.twitter.com/MT4phbFB9J
— Isabella M Weber (@IsabellaMWeber) August 3, 2026
The banking environment sure is great, isn’t it, Dimon? Never mind the genocide and ecocide that paved the way.
Corporate America’s profit frenzy
The Financial Times reported that US companies are off to a “blistering start in second-quarter earnings season, reporting double-digit profit growth despite higher energy costs, elevated interest rates and cautious spending by consumers.”
America’s biggest companies report ‘rock solid’ profits as consumers face higher costs https://t.co/2GPbec4Z3F
— Financial Times (@FT) August 2, 2026
S&P 500 earnings are on track for 47.4% year-on-year growth, their strongest quarter in five years.
Defence companies and tech companies are also cashing in, the FT said. Lockheed, General Dynamics, and Raytheon are all reporting higher profits as the US shifts to a “war footing.”
Google’s net income quadrupled to $112 billion, thanks to a little help from its SpaceX investment, just casual billions. Amazon’s profits more than tripled.
As Weber said:
War kills. War makes life unaffordable for the many. But war is great for profits.
By The Canary
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