Profits at oil companies this quarter continued to reflect oil prices that almost doubled in the second quarter from the year earlier.
Exxon Mobil on Thursday reported that second-quarter profit rose 14 percent, to $11.68 billion, the highest-ever profit by an American company. Exxon broke its own record.
The profit of $2.22 a share compared with $10.26 billion, or $1.83 a share, in the quarter a year ago.
Earlier in London, Royal Dutch Shell, Europe’s largest oil company, reported a 33 percent increase in second-quarter profit on Thursday, helped by a higher oil price even as production declined.
It seems very, very clear: limit profits, limit fuel prices. Or say “We can’t,” and accept that a few oil executives will buy new mansions at the expense of everyone who drives a car or stays warm in the winter.