President Joe Biden accused Exxon Mobil Corp. and other oil companies of exploiting high gasoline prices after a report showed inflation soaring to a new 40-year record.
“We’re going to make sure everyone knows Exxon’s profits. Exxon made more money than God last year,” Biden said during an event at the port of Los Angeles.
Exxon’s profits are forecast to almost double to $43 billion this year, which would be its second-best performance on record. The Texas oil giant’s fortunes directly collide with those of consumers, who are paying more for fuel than ever before. Regular gasoline averaged $4.99