Invasion of ukraine sparked a energy crisis around the world. but it is important to keep in mind that oil companies aren t hurting, in fact the opposite, exxon just posted its highest profits ever. 19.7 billion dollars for just one quarter. chevron reap record profits in the prior quarter, over 12 billion dollars. today, president biden slammed what he called war profiteering. in the last six months, six of the largest oil companies have made more than 100 billion. 100 billion. what kind of capitalist i have no problem with corporations turning a for profit and getting the return on their investment on innovation. but this is not remotely what is happening. oil companies, they are not because they are doing something new or innovative, the profits are a result of war. a windfall from the brutal conflict that is ravaging ukraine and hurting tens of millions of people around the globe. the president went on to
rather than increasing our investments in america or giving consumers a break, their excess profits are going back to shareholders and buying back the stocks. give me a break. enough is enough. look, i m a capitalist. you ve heard me say this before. i have no problem with corporations turning a fair profit and getting a return on their investment but this isn t remotely what s happening. reporter: in the speech on monday the president suggested he wanted to work with congress to figure out some ideas and ways to potentially punish some of these oil and energy companies if they don t pay it forward and try to help bring down consumer prices. some of the ideas that have been discussed include windfall corporate taxes, also other restrictions to, again, go after some of these companies but it is important to note that these ideas would require congressional approval. something that is just simply not going to happen given the makeup of congress right now but all of this really does go to
Tough talk against bill oil threatening to impose a windfall profit tax on the industry. what does it mean and what would it mean to you? edward lawrence on fox business is live at the white house with the landscaping. good to hear it. they just started. it s not quite as loud as it has been but they did. windfall tax. the president is saying unless oil companies increase production he will put that tax on any of their profits. the windfall profits they see. this is the last ditch effort by this president to force gas prices lower before the mid-term elections because the saudis refused to delay production cuts. instead he is not changing his energy policies, he has turned back to the blame game on oil executives. industry groups say more taxes will further reduce investment. this as president biden s closing message before american voters decide who controls the house and senate. president biden: give me a break. enough is enough. i m a capitalist. you ve heard me say this before. no problem with corporations
The prior quarter, over 12 billion dollars. today, president biden slammed what he called war profiteering. in the last six months, six of the largest oil companies have made more than 100 billion. 100 billion. what kind of capitalist i have no problem with corporations turning a for profit and getting the return on their investment on innovation. but this is not remotely what is happening. oil companies, they are not because they are doing something new or innovative, the profits are a result of war. a windfall from the brutal conflict that is ravaging ukraine and hurting tens of millions of people around the globe. the president went on to warn that if oil companies don t want to lose profits, they could face taxes on excess profits. that would be what is called a windfall tax. it works something like a tax on lottery winners.
Buying back stocks. give me a break. enough is enough. look, i m a capitalist. you heard me 0 say this before. i have no problem with corporations turning a fair profit or getting a return on their investment in innovation. but this is remotely not what is happening. oil companies, record profits today are not because they re doing something new or innovative. their profits are a wind fall of war. the wind fall from the conflict ravaging ukraine and hurting tens of millions of people from around the globe. at a time of war, any company receiving historic profits like this has a responsibility to act beyond their narrow self-interests of the executive shareholders. i think they have a responsibility to act in the interest of their consumers, community and their country to invest in america by increasing production and refining capacity. because they have they don t want to do that. they have the opportunity to do that.
Average proflts that they ve been making by refuningining oi last 20 years. if they pass the rest on to consumers, the price of gas would come down around an additional 50 cents. if they re investing profits in historic rates, and their u.s. operations, then america will be producing more oil today and it will be down even further. but rather than increasing investments in america or giving american consumers a break, the excess profits are going back to the shareholders and buying back stocks to the executive pays are going to skyrocket. give me a break. enough is enough. i m a capitalist. you heard me say this before. i have no problem with corporations turning to fair profit or getting the return on in their investment. but this is what is happening. oil companies, record profits today are not because they re doing something new or
Isn t it? it s a dress, otherwise i would need to be wearing pants. greg: so demanding. there are a lot of anchors that don t wear pants. so. greg: i m not going to name names but stuart varney. nobody owes anybody a job. i m a capitalist. i know people say they are but i actually am. i watch a christmas carol and i m like scrooge has a point! we ve all had to work on christmas. i certainly have. suck it up. greg: even when you pretape a show we re going to pretape a show for thanksgiving and christmas, it s still working on the holiday, because you did the work and it s on that day.
Manhattan. i had come to see her to discuss her work at the bbc as a presenter and director on the late show 30 years ago. on that programme she picked up directing skills that have led to a very successful for making career. she is probably best known for american psycho. i simply am not there. i controversial and violent film that became a cultural landmark the world over. the world over. your card, what ou the world over. your card, what you think? the world over. your card, what you think? a the world over. your card, what you think? a satire the world over. your card, what you think? a satire on - you think? a satire on capitalist you think? a satire on capitalist greed - you think? a satire on capitalist greed and i capitalist greed and masculinity starring christian bale. , ,, ., masculinity starring christian bale. ., bale. this confession has meant nothinu. bale. this confession has meant nothing- her bale. this confession has meant nothing. her time bale. this confession has meant nothing. her time at bale. this confession has meant nothing. her time at the - bale. this confession has meant nothing. her time at the late i nothing. her time at the late show at the nothing. her time at the late show at the bbc nothing. her time at the late show at the bbc was - show at the bbc was instrumental in preparing her for being a film director. it was my film school. i really learned everything at the late show. tonight we will be dissecting the extraordinary image which one this year? while press photography award. you are allowed to make a short
That s a that s an old navy sweater, isn t it.n t it? i don t know. yeah , yeah, it s a dress. otherwise i would need to be wearing pants. okay, so demanding. th there are a lot of people out of anchors who don t wearat pants. so i m not his name. names over at fbn, but stuart varney. look, i mean, it s just nobody owes anyone a job. i m an, okay, so i m a capitalist. i know a lot of people say they are, but i really am. like, i watch a christmas carola . like scrooge kind of hashristmar a point. oh, i m prolo christmas carol is communist propaganda. it really is .i certainl yeah. yeah. like we ve all had to worksuck i on christmas. yes. t upi certainly am. pretape a se even when you it up, even when you pretape a show and theyll wo go , we re going to pretape a show for thanksgiving or did thel working. y.