Last year, President Biden slammed Exxon Mobil for making “more money than God.”
That moment underlined a sharp turnaround from 2020, when the pandemic slashed oil prices and ground energy companies to a near-halt. That year, Exxon posted a $22B loss — its first in decades.
Last year, though — as global demand skyrocketed while supply remained tight, especially amid Russia’s invasion of Ukraine — the industry boomed.
Source: the HUSTLE
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