In response to the top four international oil and gas companies’ announcement of their second quarter earnings report today, TCS VP Autumn Hanna released the following statement:

Today’s announcement of massive profits by Exxon, Chevron, Shell and Total SE adds to the overwhelming evidence that the oil and gas industry is raking in the dough while consumers continue to struggle at the pump. These companies are doing the bidding of investors who are happy pocketing their profits while consumers are emptying theirs. It makes no sense to continue decades-old subsidies to these well-heeled industries and their fat cat lobbyists. Taxpayers should cut off this wealthy industry and stop the layers of corporate welfare, including below-market leasing giveaways and preferential tax treatment. It’s past time the oil and gas industry be held accountable for the mounting costs of climate change made worse by their products.

For more information see TCS’s research, tracking, and data on:

Oil and Gas Political Footprint
Oil and Gas Profits Analysis
Oil and Gas Leasing Reforms
Oil and Gas Tax Subsidies